Positive cat bond market momentum will continue: Klugman, Swiss Re
There is “no doubt” that the positive momentum witnessed in the catastrophe bond market over recent years will continue, according to Judy Klugman at Swiss Re, who anticipates another strong year for the market in 2022. The latest insurance-linked securities (ILS) market report from reinsurance firm Swiss Re tells a story of a growing catastrophe […]
FEMA targets $325m fifth FloodSmart Re NFIP catastrophe bond
The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market again, seeking to secure at least $325 million of additional reinsurance protection for its National Flood Insurance Program (NFIP) through a FloodSmart Re Ltd. (Series 2022-1) issuance, which will be FEMA’s fifth cat bond. We explained back last July that FEMA was exploring […]
Catastrophe bonds increase in importance again: Fitch
Catastrophe bonds increased in importance for the global reinsurance industry again in 2021, Fitch Ratings has said, as the record levels of issuance seen helped to make cat bonds an even larger pool of risk capital supporting reinsurer businesses. Momentum in the catastrophe bond market continues to increase, Fitch said in a recent report, highlighting […]
Catastrophe bonds integral to insurance ecosystem: Schultz, Aon Securities
Just over twenty-five years since the issuance of what is considered the first true, widely syndicated, catastrophe bond transaction, the structure has cemented its role within the insurance ecosystem, according to Aon Securities CEO Paul Schultz. Commenting on the record year of 144A catastrophe bond issuance seen in 2021, Schultz of Aon Securities, the investment […]
Hannover Re seeks $100m peak peril aggregate 3264 Re retro cat bond
Global reinsurance firm Hannover Re has returned to the catastrophe bond market in search of a collateralized source of worldwide peak peril annual aggregate and industry loss based retrocessional reinsurance protection, with a $100 million or greater 3264 Re Ltd. (Series 2022-1) cat bond deal. While this is a Series 2022-1 catastrophe bond transaction, the first […]
City National Rochdale begins marketing mutual ILS fund
The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused ILS mutual fund has opened for commitments, as Royal Bank of Canada subsidiary City National Rochdale, LLC, part of City National Bank, has now started to market the fund to investors. As we’ve covered before, the City National Rochdale Select Strategies […]