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Collateralized / ILS take 66% of Florida Citizens reinsurance renewal, Nephila $587m

Collateralized capital markets backed reinsurance capacity and insurance-linked securities (ILS) fund managers have taken roughly two-thirds of Florida Citizens traditional reinsurance tower at the recent renewals, with Nephila Capital remaining the largest of those markets. Florida’s Citizens Property Insurance Corporation has placed increasing reliance on the capital markets to support

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Swiss pension Nest Sammelstiftung notes diversifying contribution of ILS to returns

Switzerland based pension fund Nest Sammelstiftung, or the Nest Collective Foundation, has highlighted the diversifying benefit of its insurance-linked securities (ILS) allocation, pointing to ILS market returns as a bright spot from 2023. Nest Sammelstiftung considers itself an ecological-ethical pension investor, following sustainable investment strategies, one of which is the

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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

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UCITS catastrophe bond funds now make up 25% of the market

Catastrophe bond funds in the UCITS format saw their combined assets under management grow to $12.2 billion by the end of the first-half of 2024, rising 4% in the second-quarter and 11% in the first-half. Impressively, as a share of the outstanding cat bond market, these UCITS fund strategies now

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