Visualising higher catastrophe bond spreads & pricing

With reinsurance rates having hardened considerably, pricing in the catastrophe bond and broader insurance-linked securities (ILS) market has followed suit. In fact, the new reinsurance and retrocession pricing regime that has been installed through the January 1 2023 renewal season really became visible first in the catastrophe bond market, as Artemis’ data shows. Today, we […]

PICC P&C’s Great Wall Re cat bond listed on Bermuda Stock Exchange

The Bermuda Stock Exchange (BSX) has become the listing home for another Hong Kong issued catastrophe bond, with the notes from Chinese domestic insurer PICC Property and Casualty Company Limited’s $32.5 million Great Wall Re Limited cat bond now listed on the exchange. The Bermuda Stock Exchange (BSX) continues to be the listing venue of choice […]

ILS demand to be elevated throughout 2023: Aon

Analysts at Aon have said they expect demand for all forms of alternative capital to remain elevated throughout 2023 as insurers and reinsurers look to mitigate both macro-economic and reinsurance market challenges. In a new report on January reinsurance market dynamics, the broker noted that ILS capital has become an “essential source of capacity” for […]

TWIA Board wary of cat bond costs in 2023. Targets $2.92bn reinsurance

Members of the Board of the Texas Windstorm Insurance Association (TWIA) expressed concerns over the potential cost of catastrophe bond coverage in 2023, having an expiring $400 million cat bond it wants to renew as part of a target to buy up to $2.92 billion of reinsurance for the coming storm season. TWIA’s Board met […]

ILS “poised for strong market growth” on returns & diversification: Aon

Elevated, near-record returns and still-evident asset class diversification benefits, leave insurance-linked securities (ILS) and alternative capital in reinsurance poised for strong growth, according to Aon’s Reinsurance Solutions. A supply-demand imbalance that became evident in the catastrophe bond market in 2022, alongside the reaction to increased catastrophe activity over the last five years, has “pushed the […]

Capital entering reinsurance in 2023 will be rewarded: Aon’s Monaghan

New capital that enters the reinsurance market in 2023 is expected to be rewarded, thanks to strong demand for protection and the attractive terms that capital can be deployed at, according to Joe Monaghan, Global Growth Leader at Aon’s Reinsurance Solutions. After a “turbulent” January reinsurance renewal season, that Monaghan says came to a “pragmatic” […]

Stone Ridge backs $100m retro cyber quota share for Hannover Re

Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance and insurance-linked securities (ILS), has provided US $100 million in capital to support an innovative retrocession cyber quota share arrangement for global reinsurance firm Hannover Re. Hannover Re claims this is the first transfer of cyber risks to […]

157 Re sidecar key for CCR Re to grow its property cat portfolio: Halm

French reinsurance company CCR Re has been growing its property catastrophe portfolio in recent years and wants to continue this trend in 2023, seeing its 157 Re collateralised reinsurance sidecar as a key tool in this respect, Mathieu Halm, Chief Retrocession & Alternative Capital Officer at CCR Re explained to Artemis. In an interview, Halm […]

Great Wall Re cat bond issued in Hong Kong for PICC P&C

Chinese domestic insurer PICC Property and Casualty Company Limited has sponsored a $32.5 million Great Wall Re Limited deal to provide it with earthquake reinsurance in the third catastrophe bond issuance to be domiciled in and issued out of the Hong Kong market. PICC P&C set up Great Wall Re as a special purpose insurer (SPI) […]

Great Wall Re catastrophe bond issued in Hong Kong for PICC P&C

Hong Kong now has its third catastrophe bond, after Chinese domestic insurer PICC Property and Casualty Company Limited sponsored a $32.5 million Great Wall Re Limited deal, to provide it with earthquake reinsurance in China. We reported earlier this week that the third catastrophe bond transaction to be issued out of Hong Kong was in the […]