TWIA renewal FoT’s imply ~29% increase in reinsurance rate-on-line YoY

Firm order terms (FOT’s) for the 2022 traditional reinsurance renewal for the Texas Windstorm Insurance Association (TWIA) suggest an increase of roughly 29% in rate-on-line (RoL), which translates into a spend higher than budgeted, but that is aligned with market conditions and TWIA’s growing program. At a Board meeting today that is ongoing, TWIA officials […]

Cat bond issuance surpasses $5.1bn, $2.2bn more in pipeline

Issuance of new catastrophe bonds and related insurance-linked securities (ILS) has already surpassed $5.1 billion in 2022 and there are already another nearly $2.2 billion in the pipeline that could complete before the middle of the year. However, despite how buoyant catastrophe bond market activity appears to be, we’re still a long way off the […]

Speed key to capitalise on cat bond spreads multi-year high: Twelve

For investors considering entering the catastrophe bond market, or increasing their allocations to it, during this period of multi-year high cat bond spreads, “speed is of the essence” according to investment manager Twelve Capital, as this opportunity won’t last for long. In a new paper, Twelve Capital explains its view as to what has driven […]