Author: Admin

Centre for Disaster Protection adds World Bank ILS expertise

The UK-funded Centre for Disaster Protection has announced a number of new additions to its team, with an experienced disaster risk financing expert joining it from her most recent role at the World Bank, where she had worked on catastrophe bonds and insurance-linked securities (ILS) arrangements. The Centre for Disaster Protection was launched in 2017 […]

Hurricane Agatha to slam Mexico. Unlikely to trouble World Bank cat bond

Hurricane Agatha is verging on reaching major Category 3 storm status as it nears the Mexican coastline with 110 mph sustained winds, but the central pressure remains far higher than would be needed to trigger the Government of Mexico’s World Bank issued catastrophe bond. Hurricane Agatha formed over the weekend and rapidly intensified as it […]

CEA to complete Ursa Re II 2022 cat bond at reduced $245m

The California Earthquake Authority (CEA) will now secure its latest catastrophe bond to provide a reduced $245 million in collateralized California earthquake reinsurance protection through the Ursa Re II Ltd. (Series 2022-1) issuance. The initial target size was $275 million when the CEA came back to market for its latest catastrophe bond earlier in May. The CEA […]

Peak Re gets Black Kite Re cat bond at top of raised target – $150m

Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) has now secured $150 million of Japanese typhoon retrocession with its first ever catastrophe bond, as the Hong Kong domiciled Black Kite Re Limited (Series 2022-1) issuance priced near the top-end of raised guidance. Peak Re entered the catastrophe bond market for the first time a […]

TWIA secures new Alamo Re catastrophe bond at upsized $200m

The Texas Windstorm Insurance Association (TWIA) has now successfully secured its new catastrophe bond backed reinsurance protection at an upsized $200 million, with pricing for the Alamo Re Ltd. (Series 2022-1) cat bond finalised at the top of initial guidance. That’s quite a result for TWIA, in managing to increase the size of its cat bond […]

45% expect to use more ILS & third-party capital at renewals: Survey results

We’ve just published the results of our latest global reinsurance market survey, in which we polled market participants on the state of the market as the key mid-year renewal season fast-approaches. Artemis and our sister publication Reinsurance News polled our email and Linkedin subscribers over the last ten days, asking a range of questions designed to take […]

TWIA renewal FoT’s imply ~29% increase in reinsurance rate-on-line YoY

Firm order terms (FOT’s) for the 2022 traditional reinsurance renewal for the Texas Windstorm Insurance Association (TWIA) suggest an increase of roughly 29% in rate-on-line (RoL), which translates into a spend higher than budgeted, but that is aligned with market conditions and TWIA’s growing program. At a Board meeting today that is ongoing, TWIA officials […]

Cat bond issuance surpasses $5.1bn, $2.2bn more in pipeline

Issuance of new catastrophe bonds and related insurance-linked securities (ILS) has already surpassed $5.1 billion in 2022 and there are already another nearly $2.2 billion in the pipeline that could complete before the middle of the year. However, despite how buoyant catastrophe bond market activity appears to be, we’re still a long way off the […]

Speed key to capitalise on cat bond spreads multi-year high: Twelve

For investors considering entering the catastrophe bond market, or increasing their allocations to it, during this period of multi-year high cat bond spreads, “speed is of the essence” according to investment manager Twelve Capital, as this opportunity won’t last for long. In a new paper, Twelve Capital explains its view as to what has driven […]