Catch up on our top stories of the last week
Best of Artemis, week ending March 16th 2025 | | |  - Market makers – A dream come true for secondary cat bond liquidity: SIFMA 2025
The entry of market makers to enhance liquidity options in the secondary market for trading catastrophe bonds would be a dream come true, speakers suggested at the SIFMA ILS 2025 conference in Miami. - Fidelis to get $98m from Herbie Re 2021-1 cat bond for CA wildfire, 2024 hurricane losses
Fidelis is set to benefit from a roughly $98 million additional retrocessional reinsurance recovery from its aggregate industry-index trigger Herbie Re Ltd. (Series 2021-1) catastrophe bond, as losses from the California wildfires, added to those from hurricanes Helene and Milton earlier in the risk period, have eaten into the remaining principal of these notes. - Pool Re seeks £100m UK terrorism catastrophe bond with third Baltic PCC issuance
Pool Re, the UK government-backed mutual terrorism reinsurance facility, has returned to the catastrophe bond market as anticipated, seeking UK £100 million or more in protection from a second renewal of its landmark terror catastrophe bond, with a Baltic PCC Limited (Series 2025-1) issuance. - Florida Citizens targets $2.94bn of new reinsurance and cat bonds for 2025
Florida's Citizens Property Insurance Corporation, the state's insurer of last resort, is aiming to purchase $2.94 billion of new traditional reinsurance and catastrophe bonds for the 2025 hurricane season, which would take its total risk transfer to $4.54 billion this year. - New capital, coupons, cash from maturities. All drive strong cat bond execution in 2025
The catastrophe bond market has seen very attractive execution on behalf of sponsors so far this year, with a number of factors driving this that have all resulted in abundant capital being available to settle new cat bond issuances, typically at larger sizes and lower pricing. - Lloyd's puts California wildfire loss at $2.3bn
The Lloyd's insurance and reinsurance market has announced a $2.3 billion net loss estimate for the Los Angeles wildfires, as the market reports another solid year of underwriting profit and premium growth. - Bermuda to remain a key innovator as ILS broadens beyond cat: MultiStrat CUO
In an interview with Artemis around the Bermuda Risk Summit 2025, Kier James, Chief Underwriting Officer (CUO) of MultiStrat, discussed how the company believes that the island will continue to maintain its dominance of the insurance-linked securities (ILS) market as it broadens beyond catastrophe-focused ILS into casualty and specialty lines of business. - Allstate secures 150% upsized $750m Sanders Re 2025-1 cat bond, it's joint largest yet
Allstate has now successfully priced its latest catastrophe bond transaction, securing the upsized 150% target of $750 million of collateralized multi-peril and multi-year catastrophe reinsurance protection from the Sanders Re II Ltd. (Series 2025-1) issuance, which marks the company's joint-largest cat bond sponsorship ever. - Porch agrees $7.1m settlement with Vesttoo Creditors Liquidating Trust
Porch Group, the owner of insurer Homeowners of America Insurance Company (HOA) which was impacted by the Vesttoo reinsurance letter of credit (LOC) collateral fraud, has agreed a $7.1 million settlement over constructive trust claims with the Vesttoo Creditors Liquidating Trust, court documents show. - Healthcare of Ontario Pension Plan (HOOPP) grows ILS 39% in 2024 to US $1.32bn
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by approximately 39% in 2024, lifting its investments in the ILS market to approximately US $1.32 billion. | Featured Conferences & Events | Conferences in 2025 and beyond? Please save these dates for upcoming Artemis conferences: Artemis London 2025 - September 2nd, 2025, London UK.
We will be at a new and larger venue in the centre of the City this year, with space for 300 or more attendees. Tickets will be on sale soon! Artemis ILS NYC 2026 - February 6th, 2026, New York City.
We will be back at our usual venue in Midtown NYC for our next installment of the ILS NYC event, with space for up to 450 attendees. | Reinsurance News is a our sister service which delivers the reinsurance news that matters directly through our responsive website and by email to your inbox. This single daily email contains the most important reinsurance news, hand selected by an experienced team of researchers and journalists with years of reinsurance industry experience. | Stay in touch with Artemis | | | | |
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