Hong Kong ILS Grant Scheme to be extended again, this time by three years
The government of Hong Kong is budgeting for a further three year extension to its Pilot ILS Grant Scheme, as the Special Administrative Region continues to target bringing catastrophe bond and insurance-linked securities (ILS) issuance to its financial market. Hong Kong aims to continue developing its still nascent insurance‑linked securities (ILS) market, with attracting issuers […]
Tropical cyclone risk could be increasing in the Northwest Pacific: Chaucer
According to global specialty insurance and reinsurance group Chaucer, evidence from observational data and climate models shows that tropical cyclones, known as typhoons in the Pacific, are showing signs of being influenced by climate change, with a notable trend of their peak intensity shifting northward in the Northwest Pacific. In a new report, Chaucer explains […]
Future of cyber ILS market hinges on evolving to meet challenges: Gallagher Securities
According to Gallagher Securities, the specialist insurance-linked securities (ILS) and investment banking arm of reinsurance broker Gallagher Re, the future of the cyber ILS market is not a question of growth, but rather how quickly the market can evolve to meet evolving opportunities and challenges. As the cyber ILS market continues to expand, with a […]
TWIA sets PML at $6.227bn for 2025, to require $4.227bn of reinsurance & cat bonds
The Board of the Texas Windstorm Insurance Association (TWIA) met today and one item up for discussion was the setting of the 1-in-100 year probable maximum loss (PML), a critical figure for defining its funding needs for the hurricane season and therefore its purchases of reinsurance and catastrophe bonds for 2025. With reinsurance costs having […]
Cyber cat bonds one source for alternative reinsurance capacity growth in 2025: Fitch
Fitch Ratings, a provider of credit ratings, research, and risk analysis, expects to see a further expansion of alternative reinsurance capacity in 2025, supported by cyber catastrophe bond issuances, which will add to the reinsurance sector’s capital base and help absorb earnings volatility. Looking back at 2024, three cyber cat bonds were introduced to the […]
Alternative capital to reach new heights, fills gaps left by traditional: S&P
With alternative capital in the reinsurance industry standing at a record $113 billion in 2024, analysts at S&P Global Ratings projects that it will continue to reach new heights in 2025, as it fills gaps left by traditional capital. According to insurance and reinsurance broking group, Aon, global reinsurance capital reached an all-time high of […]
Twelve Securis merger completes, creating one of the largest ILS managers with $8.5bn
Twelve Securis has been established with $8.5 billion of assets under management (AUM) making the newly branded and combined ILS manager one of the largest in the sector, after the merger of Twelve Capital and Securis Investment Partners has now completed. Twelve Capital and Securis Investment Partners had originally announced their intention to merge in July […]
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 […]