Here's our latest Friday wrap-up of key news from the week.
New catastrophe bonds continued to emerge this week, as Brit returned with a deal being issued using the Lloyd's ILS structure, and Pool Re returned with a second renewal of its landmark terror cat bond.
The UK's Flood Re secured the targeted £140 million in UK flood retro reinsurance from its debut issuance.
Also this week, AXIS Capital, Core Specialty, and Allstate upsized their latest issuances, with the latter's secured at $750 million.
It was revealed that Fidelis is set to benefit from a roughly $98 million recovery from its Herbie Re Ltd. (Series 2021-1) deal.
The two riskier tranches of FEMA's FloodSmart Re 2022-1 cat bond tranches have seen the expected partial repayments of principal.
Elsewhere in the cat bond world, Hannover Re highlighted cat bonds as a nicely growing part of its business, and King Ridge Capital Advisors discussed the cat bond opportunity.
The Government Superannuation Fund Authority of New Zealand reported that its cat bond and cat ILS investments delivered a 14.7% return in the year to mid-2024.
It was also reported that the cat bond fund strategies in the UCITS format averaged another month of positive returns in February 2025.
We also reported on the very attractive cat bond execution on behalf of sponsors so far this year.
In other news, we reported that Hannover Re shared a much larger proportion of its large nat cat losses with ILS capital sources in Q4'24.
Canada's Healthcare of Ontario Pension Plan expanded its investment allocation to ILS by approximately 39% in 2024.
We also reported that Miami International Holdings launched a fully-integrated trading, clearing, settlement and depository tech platform for the BSX.
Florida Citizens revealed a target of $2.94bn of new reinsurance and cat bonds for 2025, while the Centre for Disaster Protection commented on the IBRD CAR Jamaica 2024 cat bond and its failure to trigger after Beryl.
Around the Bermuda Risk Summit, we spoke with MultiStrat's CEO about the island's dominance in the ILS space.
The specialist Lloyd's re/insurance marketplace announced LA wildfire losses of $2.3 billion, while broker Aon warned of hundreds of millions or higher in losses from tropical cyclone Alfred in Australia.
Finally, if you haven't seen them, Artemis has a wealth of data and analytics on the catastrophe bond and broader ILS market. View our charts and Deal Directory.
Catch up on our video interviews with ILS market leaders here.
If you prefer to listen, subscribe to our podcast series for audio interviews & additional special episodes.
We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
No comments:
Post a Comment