Collateralised reinsurance

The facility will initially focus on US, Bermudian and European business.

The resource was developed by leading ILS managers and investors.

Scott Cobon's most recent title was MD, insurance management services.

Hannover Re Capital Partners is in talks with two investors for 1 January launch.

The ratings agency warned negative PYD on US casualty will likely continue.

The CUO has added the role of head of private ILS, joining the executive team.

The reinsurer’s capacity is hugely important to ILS firms, with few alternative providers.

The vehicle will support Platinum Specialty Underwriters, XPT Group’s MGA underwriting unit.

We discuss progress in collateral management with our Outstanding Contributor winner.

Some $400mn of bonds priced in the past week, after a record-setting H1.

The Diversified Alternative Fund’s allocation to cat bonds was up by 31% from $386mn at 31 January.

The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.

The programme’s total limit this year is down $594mn to $1.36bn.

The total return for the Swiss Re Global Cat Bond Index stood at 0.61% for the month.

The documents figure in a potential criminal case against a CCB employee.

ILS offers efficient capital for underwriters, but casualty ILS transactions are complex.

The bond will provide protection for storms, quakes and fires in seven US states.

The bond protects against losses in the US, Canada, Europe and Australia.

The bond will cover named storms in five US states.

The bond will offer retrocession coverage for Hannover Re.

The carrier increased its cession by around 13% year over year.

An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.

The bond will provide fire protection for MGA Bamboo’s California business.

The Class A section of the bond has doubled in size, at lower pricing.

The Class B segment of the bond has priced below initial guidance.

The bond provides coverage for storms, earthquakes and severe weather events.

Price guidance for the bond is 7.00%-7.75%.

The former Credit Suisse ILS head Niklaus Hilti said working on life buyout hedges could rejuvenate the life ILS market.

Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.

The vehicle is smaller by 8% as White Mountains’ participation grew.

Over-subscriptions have been evident on well-priced US cat treaties.

The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.

Initial spread guidance for the three-year bond is set at 425-500bps.

The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.

The fund will invest in listed and private transactions.

Reserve risk specialist Enstar has struck its first deals in the ILS space this year.

Losses from the hurricane may not significantly impact on many funds’ annual returns.

Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.

The manager’s ILS allocation now spans six of its seven investment funds.

Quick-moving cat risk trading may become more prevalent in the ILS market.

The deal economics take into account the investment return that Longtail Re can leverage.

The bond’s pricing for southern US storms landed at the upper bound of guidance.

The parametric bond provides coverage for named storms.

Its Class 13 and 14 notes priced roughly at the midpoint of expectations.

Managers have tightened buffer terms and added extension spreads to enhance illiquid strategies.

The bond will provide protection against Japanese flood and quake events.

The bond will insure against named storms in eight US states.

The firm has integrated a trustee bank API into the RUDDR platform.

The deal is a large expansion on last year’s cat-bond coverage.

The $175mn bond is priced lower than the original range set out in January.

Pricing on Class A notes has reduced for a second time.

The health insurer now expects to secure the lowest-risk tranche of its health bond for under a 3% spread.

Improving the speed and efficiency of settlements is required to help the market grow.

Allstate has expanded the size of the bond twice, now reaching $400mn.

The bond will provide protection from named storms in Florida for three years.

The bond provides protection for North American named storms and earthquakes.

The amount offered in Class A and B notes has also expanded slightly.

The three-year instrument provides cover for US named storms and earthquakes and European windstorms.

Pricing guidance is currently at 6.75%-7.50% for the Class A notes.

The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.

With fundraising still difficult outside the liquid ILS segment, managers are looking for ways to shore up their economic proposition.

The carrier has also narrowed the pricing on its Class A and Class B notes.

The bond provides aggregate coverage for French weather events.

The bond’s price guidance is between 6.00% and 6.75%.

The pair are seeking $125mn in coverage for named storms across eight US states.

The new offering is structured to solve ongoing ILS market problems including trapped capital, extended settlement times, economic inflation, social inflation, non-modelled risks and pricing uncertainty.

The InsurTech has moved its pricing for the instrument to the top of its initial range.

The transaction builds on a $1.15bn first-of-its-kind hybrid bank and ILS capital deal in April last year.

For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.

The bond will provide coverage up to 2026, extendable to 2029.

The fund will take a vertical cut of all non-life business written by Latam specialist Ocean Re.

The firm’s founder said he originated and structured 70% of all ILS deals issued for Japanese perils in the past 12 years.