CEA prices Ursa Re 2025-1 cat bond for 100% upsized $400m of reinsurance
The California Earthquake Authority (CEA) has now priced its latest catastrophe bond issuance, successfully doubling the Ursa Re Ltd. (Series 2025-1) offering in size to provide it with $400 million in multi-year collateralized California earthquake reinsurance protection. The CEA recently returned to the catastrophe bond market with an initial target to secure $200 million or more in multi-year […]
NCIUA sponsoring $350m named storm cat bond, Cape Lookout Re 2025-1
The North Carolina Insurance Underwriting Association (NCIUA) has returned to the capital markets seeking $350 million of annual aggregate named storm reinsurance protection through this Cape Lookout Re Ltd. (Series 2025-1) catastrophe bond. Returning in 2025, the North Carolina Insurance Underwriting Association (NCIUA) is sponsoring the seventh catastrophe bond under its Cape Lookout Re Ltd. program of deals. […]
Hannover Re lifts retrocession cover to €1.2bn for 2025 as K-Cessions sidecar shrinks again
Global reinsurer Hannover Re increased its natural catastrophe retrocession protections at the January 1st, 2025, reinsurance renewals by EUR 100 million to a little more than EUR 1.2 billion, with growth in the aggregate excess of loss and whole account excess of loss covers more than offsetting a reduced K-Cessions sidecar for the year. This […]
CEA lifts Ursa Re 2025-1 cat bond target to as much as $375m
The California Earthquake Authority (CEA) has increased the targeted amount of multi-year collateralized California earthquake reinsurance protection it seeks from capital market investors through its new Ursa Re Ltd. (Series 2025-1) issuance, with now up to $375 million of coverage being sought, while the price guidance has been fixed at 7.5%, Artemis has learned. The CEA recently […]
LA wildfires trigger cat bond market’s first-ever negative January return: Icosa
Recent estimates suggest that insured losses from the Los Angeles, California wildfires could be higher than anticipated. As a result, catastrophe bond prices are showing signs of weakness, with the market’s benchmark recording its first-ever negative January return since its inception over two decades ago, according to cat bond fund manager Icosa Investments AG. With […]
“Breakthrough” parametric ILS fund is “capacity for profitable growth” – GC&C / Descartes
The launch yesterday of the Lumyna – Twelve Capital Parametric ILS Fund, a dedicated parametric insurance and insurance-linked securities (ILS) investment strategy managed by ILS manager Twelve Capital, is a “breakthrough” in the parametric space and provides “capacity for profitable growth”, senior execs at GC&C and Descartes Underwriting said. The Lumyna – Twelve Capital Parametric […]
Hannover Re vehicle Kaith Re issues $84m Seaside Re 2025 private cat bonds
Kaith Re Ltd., the transformer vehicle owned by global reinsurance firm Hannover Re, has issued seven series of private catastrophe bond notes, all Seaside Re (Series 2025), for a total of $84 million of notes sold to investors. Hannover Re remains a key facilitator to ILS market participants and its clients, through the matching of […]
AXCO: Despite Strong Growth in the Catastrophe Bonds Market, Something Seems to be Missing
The catastrophe bonds (cat bonds) market, the vast majority of the insurance-linked securities (ILS), has experienced substantial growth in recent decades, driven by increased (re)insurer demand for alternative risk transfer solutions and investor appetite to diversify their investment portfolios. According to market statistics, cat bonds issuance increased more than sevenfold between 2003 and 2023. There […]
AXCO: Is ILS regulation keeping pace?
The catastrophe bonds (cat bonds) market, the vast majority of the insurance-linked securities (ILS), has experienced substantial growth in recent decades, driven by increased (re)insurer demand for alternative risk transfer solutions and investor appetite to diversify their investment portfolios. According to market statistics, cat bonds issuance increased more than sevenfold between 2003 and 2023. There […]
Hannover Re secures upsized $200m aggregate retro from 3264 Re 2025 cat bond
Hannover Re has now secured its upsized target for $200 million of retrocession covering worldwide peak perils on an annual aggregate basis, from its new 3264 Re Ltd. (Series 2025-1) cat bond transaction, Artemis has learned. The reinsurance company ventured back to the cat bond market earlier this month, with an initial target to secure $175 million in […]