London-based Inigo Insurance issued $115 million Montoya Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds, versus the originally targeted $105 million. They will cover peak perils of U.S. named storm, U.S. and Canada earthquake, Japan earthquake, and Japan typhoon., based on a PCS industry loss index trigger, with coverage on an annual aggregate basis.

The Findel Group Pension Fund has agreed a £175 million full scheme buy-in deal with Standard Life. The transaction, which was agreed in February and carried out in March, has enabled the trustee to secure full benefits for around 2,000 members.

London-based Inigo Insurance is now looking to issue at least $115 million Montoya Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds, versus the originally targeted $105 million. They will cover peak perils of U.S. named storm, U.S. and Canada earthquake, Japan earthquake, and Japan typhoon., based on a PCS industry loss index trigger, with coverage on an annual aggregate basis.

The Air Canada (UK) Pension Trust Fund signed a £380 million buy-in with Pension Insurance Corporation in 2021. The transaction secures the benefits of about 1,400 members, 40% of which are deferred members. The scheme is one of several Air Canada defined benefit pension funds. Also, the Keysight Technologies UK Limited Retirement Benefits Plan completed a £58 million buy-in with Just Group in December 2021. It follows a £250 million buy-in secured earlier in 2021. Together, the two transactions have secured the liabilities of all 900 of the scheme’s pensioner members.

Allstate is now looking to issue $550 million of Sanders Re III Ltd. (Series 2022-1) single-tranche four-year CAT bonds, versus the original $450+ million. They will provide per-occurrence and annual aggregate multi-peril protection against losses from US named storms, earthquakes, severe weather, wildfires, volcanic eruptions, and meteorite impacts, across all states except Florida, on an indemnity trigger basis.

According to Mercer, £28.6 billon of bulk annuity deals were struck spread across 157 transactions in 2021, versus £31.8 billon across 141 deals in 2020, and £43.8 billion across 151 deals in 2019. The pace of deals picked up in the second half of 2021, with only £8.7 billion worth written in the first half. Also, bulk annuity deals of £1 billion or under reached a new high in 2021 - £22.9 billion of such "core" deals, a 10% increase on the previous year.

Florida-based Heritage Insurance Holdings is looking to issue at least $100 million Citrus Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will initially cover north-east US named storm risks, across certain states, on a per-occurrence and indemnity trigger basis. Heritage can elect to include a broader range of states at resets, but no south-east and Gulf states.

The North Carolina Insurance Underwriting Association issued $330 million Cape Lookout Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds (versus the original $300 million target which was later moved up to $350 million). The bonds will cover losses from named storms and severe thunderstorms that impact the state of North Carolina, structured using an indemnity trigger and be afforded on an annual aggregate basis.

The North Carolina Insurance Underwriting Association is now targeting to issue up to $350 million Cape Lookout Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds (versus the original $300 million). The bonds will cover losses from named storms and severe thunderstorms that impact the state of North Carolina, structured using an indemnity trigger and be afforded on an annual aggregate basis.

U.S. primary insurer Safepoint Insurance Company is looking to issue at least $125 million of Manatee Re II Ltd. (Series 2022-1) two-tranche three-year CAT bonds. It will cover losses from US named tropical storms and hurricanes, initially across its core states of Alabama, Florida, Louisiana, Mississippi, New Jersey and Texas, through an indemnity trigger with coverage on a per-occurrence basis.

Direct-to-consumer Insurtech Kin Insurance is looking to issue at least $100 million of Hestia Re Ltd. (Series 2022-1) single-tranche CAT bonds of unknown term to maturity. It will cover Kin's personal property line portfolio losses from named storms impacting Florida.

ARX Holding issued $135 million of Bonanza Re Ltd. (Series 2022-1) three-year single-tranche CAT bonds. It will cover major US named storm and hurricane losses on an indemnity trigger and per-occurrence basis.

Swiss Re issued $325 million of Matterhorn Re Ltd. (Series 2022-1) three-year two-tranche CAT bonds, versus the original $200 million sought. They will provide aggregate protection against losses caused by certain U.S. named storms and U.S. and Canadian earthquakes, on an industry loss basis. [Read more]

"The Newell Rubbermaid UK Pension Scheme has agreed a £225 million buy-in for its Combined Newell and Record Section with Legal & General Assurance Society. The buy-in was agreed in February and secures the benefits of more than 800 retirees and 900 deferred members. It is the scheme’s second buy-in policy with L&G, as it previously completed a bulk annuity transaction for its other section, the Combined Parker and Sanford Section, in 2013."

Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance are looking to issue at least $240 million Tomoni Re Pte Ltd. Series 2022-1 and 2022-2 two-tranche four-year CAT bonds. All four tranches will cover certain losses caused by typhoons and floods in Japan, on an indemnity trigger basis.

London-based Inigo Insurance is looking to issue at least $105 million Montoya Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. They will cover peak perils of U.S. named storm, U.S. and Canada earthquake, Japan earthquake, and Japan typhoon., based on a PCS industry loss index trigger, with coverage on an annual aggregate basis.

"Howard Kearns, longevity director at insight, speaks to professor David Blake, professor in the faculty of finance at bayes business school and director of the pensions institute, on the impact of the pandemic on longevity, the consequences for pension schemes, and the future of the longevity hedging market."

Longevity analytics firm, Club Vita will integrate its longevity risk classification services into Longitude Exchange’s digital marketplace. This will enable risk takers and cedents to tailor longevity risk derivative instruments specifically to their needs while encouraging the development of a liquid secondary market.

Eclipse Re issued $75 million Eclipse Re Ltd. (Series 2022-1A) two-year CAT notes.

Pool Re, the UK government-supported mutual terrorism reinsurance provider, issued £100 million Baltic PCC Limited (Series 2022-1) single-tranche three-year terrorism risk CAT bonds. This is a renewal of the £75 million Baltic PCC Limited (Series 2019) bonds issued in 2019 maturing next month. They cover terror-related losses that occur in England, Scotland and Wales.

The North Carolina Insurance Underwriting Association (NCIUA) is looking to issue at least $300 million Cape Lookout Re Ltd. (Series 2022-1) x-tranche three-year CAT bonds. The bonds will cover losses from named storms and severe thunderstorms that impact the state of North Carolina, structured using an indemnity trigger and be afforded on an annual aggregate basis.

Swiss Re is looking to issue at least $200 million of Matterhorn Re Ltd. (Series 2022-1) three-year two-tranche CAT bonds. They will provide aggregate protection against losses caused by certain U.S. named storms and U.S. and Canadian earthquakes, on an industry loss basis.

Allstate is looking to issue at least $450 million of Sanders Re III Ltd. (Series 2022-1) three-tranche four-year CAT bonds. They will provide per-occurrence and annual aggregate multi-peril protection against losses from US named storms, earthquakes, severe weather, wildfires, volcanic eruptions, and meteorite impacts, across all states except for Florida, on an indemnity trigger basis.

Fidelis Insurance Holdings Limited appears to have performed a renewal transaction of sorts under its Socium Re collateralised and quota share focused reinsurance sidecar for 2022.

ARX Holding is looking to issue at least $135 million of Bonanza Re Ltd. (Series 2022-1) three-year single-tranche CAT bonds. It will cover major US named storm and hurricane losses on an indemnity trigger and per-occurrence basis.

The circa £11 million Cornish Mutual Assurance Company Staff Pension Scheme has agreed a buyout with Legal & General Assurance Society. The deal was concluded in November 2021 and secures the benefits of more than 70 scheme members.

AXIS Capital is issuing another collateralized reinsurance sidecar issuance through its Alturas Re Ltd. vehicle for 2022, with the sidecar issuing a Series 2022-2 (R) tranche of shares. Details in terms of size of the transaction are unknown.

Reinsurance Group of America (RGA) has completed a longevity reinsurance transaction with the Netherland's NN Life covering €4 billion of underlying reserves.