TWIA targets $185m+ Alamo Re 2022-1 for cat bond renewal

The Texas Windstorm Insurance Association (TWIA) is back in the catastrophe bond market as it puts together its reinsurance tower, seeking a $185 million or greater Alamo Re Ltd. (Series 2022-1) cat bond that will act as a renewal of a maturing issuance from 2019. As we previously reported, for 2022 the Board of the Texas […]

CEA targets $275m Ursa Re II 2022 California quake catastrophe bond

The California Earthquake Authority (CEA) is back in the catastrophe bond market for the first time in more than a year, seeking $275 million or more of collateralized California earthquake reinsurance protection through an Ursa Re II Ltd. (Series 2022-1) issuance. The California Earthquake Authority (CEA) is among the most prolific sponsors of catastrophe bonds, collateralised […]

Peak Re targets Hong Kong cat bond Black Kite Re for Japan typhoon retro

Peak Reinsurance Company (Peak Re), the Hong Kong headquartered global reinsurer, is sponsoring its first ever catastrophe bond, with a $75 million Hong Kong domiciled Black Kite Re Limited (Series 2022-1) issuance. Peak Re is seeking $75 million of industry loss trigger based Japanese typhoon retrocessional reinsurance with its debut Black Kite Re cat bond deal. […]

Jamaica cat bond may grow, or expand to cover Caribbean: World Bank MD

When a renewal comes up for consideration for the first catastrophe bond transaction to be sponsored by Jamaica, there is already some discussion regarding the need for a larger cover to be in place, or for it to be expanded to cover additional Caribbean island nations, a World Bank Managing Director has said. Speaking with […]

SCOR expands reinsurance sidecar capacity to US $400m

France headquartered globally active reinsurance firm SCOR has increased its third-party capital support in the first-quarter of 2022, taking the capital managed under its collateralised reinsurance sidecar platform to US $400 million. SCOR has been leveraging third-party capital from investors more meaningfully in recent months, as it both de-risks its reinsurance book by reducing catastrophe […]

Allstate lifts cat reinsurance to $6.6bn. Agg cover lowered on event deductibles

US primary insurance giant Allstate has renewed its main excess catastrophe reinsurance towers for 2022 into 2023 and the company has raised the top of its per-occurrence reinsurance coverage to $6.6 billion, but on the aggregate side the tower has shrunk with coverage attaching lower-down now thanks to the use of event deductibles. For the […]

Cat bond funds lead private ILS, as returns demonstrate decorrelation

Insurance-linked securities (ILS) fund strategies delivered a second month in a row of muted performance in March 2022, as some catastrophe exposure and continued price pressure in catastrophe bonds, dented returns for some strategies, but overall the sector remains positive for Q1, further underscoring the decorrelation potential for investors. On average, insurance-linked securities (ILS) funds […]

USAA’s new Residential Re cat bond upsized again to $430m

USAA has further upsized its latest catastrophe bond issuance to $430 million in size, demonstrating that investor appetite remained strong for the higher layers of its new Residential Reinsurance 2022 Limited (Series 2022-1) issuance. USAA returned to the catastrophe bond market earlier in April, seeking $375 million or more of collateralized multi-peril reinsurance from a five […]

Aspen Capital Markets AuM reaches $918m, fee income hits $61.4m

Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance company, has increased its third-party and insurance-linked securities (ILS) assets under management to almost $918 million, while earning $61.4 million in fees from these activities in 2021. The capital utilised in Aspen Capital Markets’ activities at the company rose by some 35% over the course […]

The role of insurance in meeting the financial need to preserve biodiversity

Biodiversity loss will be an increasingly important source of risk and opportunity for the insurance sector. The significant degradation of ecosystems has the potential to materially impact global finance, economies, and societies alike. Understanding the physical and transition risks associated with biodiversity loss and working to mitigate the damage to biodiversity will be a key […]