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Fontana 2.0 will encompass a more flexible investment strategy than the 2022 vehicle. -
The cat bond market is on course for $56bn of notional outstanding by the end of this year.
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The outcome of Eaton Fire subrogation is an uncertainty for some vehicles.
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The peril has been historically difficult to model compared to others.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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The issuance will be the fourth deal offered by the Lloyd’s carrier.
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The shift in multiples is indicative of price softening in the cat bond the past two years.
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Japanese firm MS&AD acquired 80% of ILS manager Leadenhall Capital Partners in 2019 from another affiliate.
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The average weighted spread on the deals was 651bps, skewed upward by cyber and wildfire deals.
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Carriers are grappling with a rush of investor interest in longer-tail lines.
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The ratings agency first indicated it would consider a new methodology in March.
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The single Class A note is offering an initial spread range of 1,050-1,150 to investors.
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Hole will spearhead the launch of the underwriting and analytics platform.
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One William Street priced its debut cat bond 13% below the midpoint of guidance.
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As the P&C market shifts, carriers are looking for growth from acquisitions.
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The sponsor has $200mn of cat bond protection maturing in December this year.
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Cassis joins from Swiss Re, where she was a senior ILS structurer since February 2022.
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Covea’s Hexagon IV Re deal priced 13% below the initial target on a weighted average basis.
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Total gains for the year reached 7.71%.
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Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
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Many commercial risks will have London coverage, but insured values are relatively low.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
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So far this year, there have been 11 first-time sponsors to place a deal.
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Competition on price from traditional markets is weighing on bond market momentum.
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The insurer of last resort’s exposure was $696bn as of last September.
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The bond will provide protection against US wind with a PCS trigger.
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The cedant’s current deal is due to mature at the end of January 2026.
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Spreads on USAA’s latest deal priced below comparative issuances in 2023-2024.
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The executive is charged with defrauding investors out of nearly $500mn.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
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Mory Katz joined the broker earlier this year.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The funds will combine credit and ILS holdings.
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Ryan Saul will work at Ledger’s broker-dealer subsidiary Ledger Capital Markets.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Newsom has yet to sign a pending bill to create a public cat model.
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
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The allocation is around 3% of the fund’s total assets.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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The facility will initially focus on US, Bermudian and European business.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Pricing has hit historically soft market lows, based on secondary market pricing.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The manager’s largest ILS holding is in the cat-bond-heavy High Yield fund.
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Cat bonds have outpaced the returns on private strategies in the year to date.
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The new Verisk SCS model is increasing expected losses on aggregate bonds.
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The tropical cyclone is expected to be named Imelda.
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In the new role, Edward Johnson will be rejoining former Aon Securities colleague Chris Parry.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The CEA had $19.3bn of claim-paying capacity as of 31 July.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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ILS executives talked pricing, capacity and opportunities in casualty at an ILS roundtable in Monte Carlo.
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The market has learned lessons from earlier soft market phases that it will apply now.
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Victory Pioneer Cat Bond Fund also added assets in the past month.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Scott Cobon's most recent title was MD, insurance management services.
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The sponsor extended two notes issued in 2022.
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It is understood that CyberCube has been considering a sale of the business.
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The volume of property cat aggregates placed grew 50% in 2025.
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Bohm has held senior roles at BMS, Swiss Re and Aon during his career.
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The trend for private credit in alternative asset management is “set to continue”.
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The investment bank had stopped offering ILS services last September.
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The data modeling firm said losses previously averaged $132bn annually.
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The agency noted inflows to cat bond funds and investor interest in private ILS.
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Competition from cat bonds in the top layers of programmes applied downward pressure on reinsurance pricing in 2025.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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Funds encompassing private ILS outperformed cat bond strategies in July.
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The global specialty player is also exploring ILS offerings across specialty and cat bonds.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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Market participants have until 13 October to provide any comments.
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A trend towards higher-risk ILW bonds helped keep yields in double-digits despite softer rates.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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The purchase brings Sompo an established ILS platform as part of the deal.
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Last year marked the second consecutive year in which carriers made a positive return.
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The group claims the White House is undermining disaster preparedness.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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The vehicle will support Platinum Specialty Underwriters, XPT Group’s MGA underwriting unit.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The estimate covers property and vehicle claims.
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The reinsurer plans to repeat its 2025 purchasing for property and specialty protections.
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The firm booked net losses from the LA wildfires of EUR615.1mn in the first half.
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ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
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Both organisations still predict an above-average hurricane season.
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The Florida carrier said ceded premiums will rise slightly to $106mn in Q3.
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The sidecar took $19mn of cat losses relating to the California wildfires.
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The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
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The forecast has increased since the early July update due to several additional factors.
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The Texas insurer of last resort previously had to have funding for a 1-in-100 year storm.
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California wildfires account for $40bn of the insured loss tally in H1.
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The company also purchased $15mn of SCS parametric coverage.
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In Q2 last year, Everest ceded $26mn in losses to Mt Logan.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The ILS Advisers Fund Index reported a profit of 1.11% in June.
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