Here's our latest Friday wrap-up of key news from the week.
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While the cat bond market has slowed with the start of the Atlantic wind season, we are still seeing new deals.
Fidelis Partnership linked Syndicate 3123 is targeted for its first cat bond protection, with a $75m Woody Re deal.
Leadenhall Capital Partners backed reinsurer Nectaris Re is also in the market for its first cat bond, a $60m Tranquil Re offering.
Swiss Re has also returned this week, targeting broad North American retro from a $275m Matterhorn Re cat bond, its third of the year.
In addition, a World Bank cat bond could be on the cards for Morocco under a new Morocco Climate & Risk Finance Program.
We also reported on a new $14.85 million Raptor Re 2026-1 private cat bond issued by Aon's White Rock.
Achmea priced and secured a one-third upsized €100m Windmill III Re cat bond this week.
Arch Capital also priced its new 50% upsized $150m Ramble Re cat bond.
While Mercury Insurance has both upsized its new Luca Re cat bond to $150m, while adjusting the price guidance down three times.
In other stories this week, Everest launched the Annapurna Re casualty sidecar with a $600m capital deployment target, anchored by Stone Point.
Augment Risk hired well-known insurance-linked securities market executive Brad Livingston.
Twelve Securis said it believes El Nino will drive a redistribution of risk across the re/insurance and ILS markets.
Solidum Partners said it plans to shift its cat bond portfolio closer to the market index for hurricane season, given the forecasts and El Nino.
Youssef Sfaif, the President and Chief Operating Officer of Mt. Logan Capital Management, Ltd. is set to depart from the company later this year.
Stone Point Capital LLC successfully raised $610.5 million in a first close for a new strategy, named the Stone Point Insurance Solutions Fund.
USAA extended the maturity dates for two tranches of its ResRe 2022-1 annual aggregate cat bond issuance, amounting to $95 million of notes.
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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