Munich Re secures Eden Re II reinsurance sidecar at $150m again for 2025
Having begun its Eden Re II Ltd. collateralized reinsurance sidecar placements with the largest Class A tranche of notes since 2019, global reinsurer Munich Re has now added the usual Class B issuance, but this tranche has been placed at just $85.5 million, which is the smallest size for that layer since right back in […]
Guy Carpenter property catastrophe reinsurance indices all decline at 1/1 2025 renewal
Property catastrophe reinsurance rates declined across the globe at the January 1st 2025 reinsurance renewals, with broker Guy Carpenter’s rate-on-line indices for the world, US, Europe and Asia Pacific all falling to start the new year. For the majority of the indices, it is the first decline in property catastrophe reinsurance rates-on-line seen since 2017, […]
Insurance Authority welcomes Silk Road Re cat bond, sixth under Hong Kong ILS regulations
Hong Kong’s Insurance Authority (IA) has welcomed the recent issuance of the latest and sixth catastrophe bond under its insurance-linked securities (ILS) regulatory regime, saying the US $35 million Silk Road Re Limited cat bond sponsored by Taiping Re reinforces its commitment to the sector. As we’ve been reporting, Taiping Re secured a three-year source of fully-collateralized retrocessional […]
Competitive ILW pricing drives considerable buyer interest at renewal: Howden Re
Competitive pricing for industry-loss warranty (ILW) protection has driven “considerable interest from a growing demographic of buyers” at the January 1st 2025 reinsurance renewals, according to broker Howden Re. Industry-loss warranty (ILW) market activity has continued to be strong, as had been seen through the hard cycle, the reinsurance broker explained in its new renewals […]
Property cat pricing declines 8%, retrocession falls 13.5% at January renewal: Howden
At the January 2025 reinsurance renewals broking group Howden estimates that risk-adjusted pricing for property catastrophe treaty business declined by 8%, while retrocession pricing fell further by 13.5%. The company titles its latest renewals report “Past the Pricing Peak”, saying that a new phase of the market cycle ushers in price reductions and a renewed […]
Silk Road Re cat bond achieves “effective diversification” for Taiping Re: CEO
Silk Road Re Limited, the debut catastrophe bond sponsored recently by Taiping Re and issued out of Hong Kong, has helped the reinsurance company achieve “effective diversification” within its catastrophe risk management, as it looks to pursue a dual-pillar protection approach of retrocession and insurance-linked securities (ILS), its CEO said today. The company also hailed […]
Flood drives 78% of $18.2bn major non-US international cat losses in 2024: CRESTA
The CRESTA organisation, which tracks catastrophe events outside the United States that have generated insurance industry losses of over US $1 billion, has reported the 2024 annual total as reaching US $18.2 billion, of which 78% came from flood events. Aggregate insured losses from non-US catastrophe loss events came in slightly below the long-term average […]
2024 climate disasters cause billions in losses highlighting urgent need for action: Christian Aid
The year 2024 saw several extreme climate disasters that resulted in billions of dollars in insured losses, underscoring the urgent need to reduce carbon emissions, accelerate the transition to renewable energy, and provide funding for vulnerable populations, according to Christian Aid. In its latest report, Christian Aid identified the 10 most costly climate-related disasters of […]
Galapagos Capital gets SUSEP authorisation for SSPE structure to issue ILS in Brazil
Galapagos Capital has now received the expected official authorisation from Brazil’s insurance regulator SUSEP to establish its own Sociedades Seguradoras de Propósito Específico (SSPE), a special purpose reinsurance vehicle that can issue Letra de Risco de Seguro (Insurance Risk Letters), which are insurance-linked securities (ILS). The move puts Galapagos Capital on track to achieve its […]
Alternative reinsurance capital grew 7% to $107bn in 2024: Guy Carpenter, AM Best
Dedicated reinsurance capital grew by 6.9% over the course of 2024, but alternative capital that largely represents the capacity deployed by insurance-linked securities (ILS) fund managers and through other ILS structures expanded slightly faster by 7% to reach $107 billion this year, according to Guy Carpenter and AM Best. Previously, the reinsurance broker and the […]