Here's our latest Friday wrap-up of key news from the week.
This week, just one new cat bond offering had come to light as of the time of this email, a $75m Oceanside Re cat bond from first-time sponsor Ocean Harbor Insurance.
Elsewhere in the cat bond market, reinsurer SCOR priced its new Atlas deal to provide the upsized target $240m of retro.
Florida Peninsula priced its latest cat bond transaction, securing the 43% upsized target of $250m of named storm reinsurance.
SafePoint also finalised its latest Nature Coast cat bond, securing a 50% upsized $150m of reinsurance at reduced pricing.
We also reported that Kin's $175m Hestia Re 2022-1 cat bond is expected to return the majority of capital to investors at the end of its risk period, with just $5m to be extended.
In other news this week, Lane Financial forecast that the cat bond market can return ~8.5% in 2025 after an expected level of losses.
We discussed the April reinsurance renewal outcome, with softening continuing but discipline still evident.
The Brookmont Catastrophic Bond ETF began trading on April 1st.
Alternative and ILS capital in reinsurance grew by 7% in 2024, to end the year at a new high of $115 billion, according to Aon.
AmRisc renewed its E&S property focused collateralized reinsurance sidecar Trouvaille Re Ltd. at an upsized $580m.
Early 2025 hurricane forecasts suggest seasonal activity aligned with the recent 10-year average.
The reinsurance sidecar market is seen around 50% bigger by Gallagher, while Aon noted Q1 wildfire impacts to the structures.
Swiss Re Insurance-Linked Investment Management has a new CEO, as long-standing employee Bernard Bachmann stepped into the role.
Radix ILS made two hires in Bermuda, adding underwriting and actuarial expertise in instruments including property, retrocession and industry-loss warranties (ILWs).
Aon said US property cat demand could rise ~$7.5bn at the mid-year renewals, while Gallagher Re said US rates fell as much as 15% for loss free accounts at April 1st.
The first video from our ILS NYC 2025 conference is now available to view, with a private ILS focus and featuring market leaders.
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.
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