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UnipolSai seeks €100m cat bond quake reinsurance with Azzurro Re II 2022

Italian primary insurance company UnipolSai Assicurazioni S.p.A. has returned to the catastrophe bond market for what will be its fourth issuance, with a €100 million Azzurro Re II DAC (Series 2022-1) issuance that seeks to extend its sources of earthquake reinsurance protection from the capital markets. This new Azzurro Re catastrophe

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USAA targets $375m+ Residential Re 2022-1 aggregate cat bond

USAA, the U.S. primary mutual insurer, is sponsoring a $375 million plus aggregate catastrophe bond transaction, with a Residential Reinsurance 2022 Limited (Series 2022-1) deal being marketed to cat bond funds and investors. This is USAA’s regular May sponsorship of an annual aggregate catastrophe bond, as the insurer continues to place

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Catastrophe bond market hits new high on busy start to 2022: Report

The outstanding market for catastrophe bonds and related insurance-linked securities (ILS) reached a new all-time high at the end of the first-quarter of 2022, as a busy start to the year took Artemis’ measure of the sector to $37.5 billion. This is according to the latest quarterly report on the catastrophe

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PGGM ILS portfolio at ~$8.2bn, as Aeolus, SCOR & Nightingale Re added

PGGM, the Dutch pension fund investment manager that continues to be the largest single investor in the insurance-linked securities (ILS) market, increased its ILS portfolio to roughly US $8.2 billion, while adding new mandates with Aeolus, SCOR and a managed account structure named Nightingale Re. PGGM’s ILS portfolio reached EUR

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Australia passes cyclone reinsurance pool legislation

Australia has passed legislation to enable the establishment of a reinsurance pool for cyclone and cyclone-related flood for homes, strata corporations and small businesses, in a move welcomed by the Insurance Council of Australia (ICA). The ICA says it is now incumbent upon the Australian Reinsurance Pool Corporation (ARPC) to

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Swiss Re raises 2021 nat cat insured losses to $111bn

The global insurance and reinsurance industry faced $111 billion of natural catastrophe losses in 2021, according to Swiss Re, which is a 6% increase on its $105 billion estimate from December. Global economic losses from natural catastrophes are estimated at $270 billion, making the protection gap significant again as just

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Aon’s White Rock issues $16.2m Asagao V private cat bond

Aon’s Bermuda domiciled Class 3 and Class C insurer and segregated accounts company White Rock Insurance (SAC) Ltd. has issued a fifth transaction in the Japanese Asagao private catastrophe bond series, with a $16.2 million Asagao V completed. The first Asagao private catastrophe bond, or cat bond lite, came to market

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