Here's our latest Friday wrap-up of key news from the week.
This week was considerably quieter, perhaps due to the Easter break, but still two new catastrophe bonds were added to the pipeline from one returning and one new sponsor.
The Texas Windstorm Insurance Association (TWIA) targets $375m of reinsurance from a Bluebonnet Re 2025-1 deal.
While piggybacking on the same structure, first-time sponsor the Texas FAIR Plan Association (TFPA) targets $200m in reinsurance from a Bluebonnet Re 2025-2.
Also in cat bonds, Zenkyoren finalised its new $100m Nakama Re deal with pricing near the low-end of guidance, while Louisiana Citizens is aiming to upsize its new Bayou Re 40% to $280m, and Great American could upsize its new Riverfront Re deal to as much as $350m.
We also looked at the records that continue to fall in the catastrophe bond market, as issuance continues at pace in 2025.
Registration is now open for our cat bond and ILS market conditions at mid-year 2025 live webinar. Sign up to attend or watch on-demand.
One piece of news reported late last Friday, after our recap email, was that despite its price recovering almost to par one of Allstate's aggregate cat bonds had its maturity date extended by three years.
In other news this week, Swedish pension AP2 saw its ILS allocation rise in value to around US $1.1bn by the end of 2024, with the asset class exceeding its long-term return expectations.
Mariagiovanna Guatteri, CEO of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), highlighted ILS as a reliable source of yield, diversification, and macroeconomic resilience.
Brookmont Capital Management, LLC is reportedly looking at options to bring its US listed catastrophe bond ETF to Europe.
We reported on Hannover Re's growing stature as a key ILS market facilitator.
In addition there were a raft of people moves.
Nephila Capital promoted Bermuda-based employee Mark Richardson to the position of Head of Underwriting.
Euler ILS Partners hired Alexander Loosley as Head of Capital Formation and Strategic Initiatives.
Acrisure Re has taken Roman Romeo as Head of Acrisure Re Bermuda, and Barry Gordon, a specialist in broking industry-loss warranty (ILW) instruments, from rival Aon.
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.
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We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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