Twelve Capital and Securis to merge, creating founder-led ILS manager with $7.8bn
Breaking news today as established insurance-linked securities (ILS) investment managers Twelve Capital and Securis Investment Partners have announced their intention to merge, with the resulting ILS manager set to be a significant founder-led business with around $7.8 billion in assets under management. Both sets of shareholders are set to remain fully invested in the combined […]
$60.5m of Hannover Re’s Seaside Re private cat bonds mature, $78.25m extended again
Some $60.5 million of the Seaside Re private catastrophe bond transactions facilitated by global reinsurance firm Hannover Re have now been allowed to mature, reducing the amount outstanding with their maturity dates extended to $78.25 million and those remaining have had their maturity dates pushed further out to October. There have been repeated extensions of […]
Hannover Re’s vehicle Kaith Re issues $5m LI Re 2024-1 private cat bond
A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor. Hannover Re has facilitated the transaction, helping the unnamed cedent […]
ARC pays out $32m as Zimbabwe’s parametric drought insurance triggers
The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products and risk pooling for countries and other entities in Africa, has made a US $32 million payout to benefit Zimbabwe after the parametric drought cover was triggered. We’d reported back in April that the African Risk Capacity (ARC) was expecting a severe drought […]
ARC pays out $32m as Zimbabwe’s parametric drought insurance triggers
The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products and risk pooling for countries and other entities in Africa, has made a US $32 million payout to benefit Zimbabwe after the parametric drought cover was triggered. We’d reported back in April that the African Risk Capacity (ARC) was expecting a severe drought […]
PCRIC names Richard Poulter Chief Risk Officer
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive management where the Board of Directors will have a comprehensive view of how key risks are managed and controlled across […]
Hannover Re secures upsized $140m target for 3264 Re cat bond
Hannover Re, the German global reinsurance company, has now successfully upsized its latest retro catastrophe bond, securing $140 million of retrocessional cover from the 3264 Re Ltd. (Series 2024-1) issuance. Hannover Re came back to the catastrophe bond market earlier this month, initially targeting $100 million of named storm and hurricane retrocessional protection for parts of […]
ARC gets Dutch Gov support to make parametric insurance more accessible in Africa
African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, has received a $27 million contribution from the Dutch government to help in boosting climate resilience in Africa. The Netherlands has now become the sixth contributor to the African Development Bank’s Africa Disaster Risk […]
ILS fund diversity makes multiple ILS allocations a consideration: SIGLO research
The landscape of insurance-linked securities (ILS) fund products is relatively broad and diverse, even though the majority of ILS funds are crowded into similar sizes and target similar levels of risk, meaning that, for investors, there is value in considering multiple ILS allocations, according to SIGLO Capital Advisors AG. In fact, analysis undertaken by Swiss […]
SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond
France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance. SCOR last sponsored a catastrophe bond one year ago, from which it secured $75 million in […]