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The Hanover Insurance Group will issue $200 million Commonwealth Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds versus the original $150 million target. They will cover losses from US named storms, earthquakes, severe thunderstorms, winter storms and wildfires on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]

Supermarket chain Morrisons secured a £270 million buy-in with Aviva covering 32,000 deferred members of its cash balance defined benefit plan. Aviva also underwrote a “winding-up lump sum” exercise for approximately 30,000 pension scheme members. This enabled members to take their benefits as a one-off cash payment rather than take a regular retirement income. [Source: Pensions Expert]

Vermont Mutual Insurance Company is looking to issue at least $200 million Baldwin Re Ltd. (Series 2025-1) single-tranche four-year catastrophe (CAT) bonds. They will cover losses from US Northeast, named storm, earthquake, severe weather, and fire on an indemnity and per-occurrence basis. [Source: Artemis.bm]

AmTrust Financial Services is looking to issue at least $100 million Solis Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms that impact U.S. northeast states on an indemnity and per-occurrence basis. [Source: Artemis.bm]

Fidelis Insurance will issue $90 million Herbie Re Ltd. (Series 2025-1) single-tranche two-year catastrophe (CAT) bonds, versus the original $75 million target. They will cover losses from North America named storms, North America earthquakes, US severe thunderstorms, US wildfires, US winter storms, US Caribbean earthquakes, Japan typhoons, Japan earthquakes, Canada severe storms, Canada winter storms, European windstorms, Italy earthquakes, Turky earthquakes, Australia earthquakes, Australia tropical cyclones, and New Zealand earthquakes on an annual aggregate and industry loss index basis. [Source: Artemis.bm]

Canopius Group is looking to issue at least $125 million Finca Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from US named storms and earthquakes (including Puerto Rico and the US Virgin Islands) on a territory-weighted industry loss trigger basis, while the coverage will be annual aggregate in nature, with an index franchise deductible in-force for qualifying events to be above a certain threshold over each annual risk period. [Source: Artemis.bm]

The Massachusetts Property Insurance Underwriting Association (MPIUA) will issue $225 million Mayflower Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds, versus the original $150 million target. They will cover losses from Massachusetts named storms, severe thunderstorms and winter storms on an indemnity and annual aggregate basis. [Source: Artemis.bm]

Canada's Yellow Pages Limited purchased a C$210 million group annuity contracts from BMO (Bank of Montreal) Life Assurance Company. It will cover the pension benefits of approximately 860 pensioners and beneficiaries of the company. Following the transaction, Yellow Pages will have reduced its defined benefit pension plan obligations by approximately 50 percent. [Read more at Yellow Pages]

Allstate will issue the targeted $150 million of Sanders Re II Ltd. (Series 2025-2) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from Florida named storm, earthquake, severe weather, wildfire, volcanic eruption, and meteorite impact on a cascading indemnity and per-occurrence trigger basis. [Source: Artemis.bm]

Assicurazioni Generali S.p.A. will issue EUR 200 million Lion Re DAC (Series 2025-1) two-tranche four-year catastrophe (CAT) bonds. They will cover losses from windstorms across Europe and earthquakes in Italy on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]

Hannover Re will issue $150 million 3264 Re Ltd. (Series 2025-2) single-tranche three-year catastrophe (CAT) bonds, versus the original $100 million target. They will provide per-occurrence coverage for northeast US named storms and annual aggregate retrocessional reinsurance for North American earthquakes, using an industry-loss trigger and based on industry losses reported by PCS for personal, commercial and auto lines of business. [Source: Artemis.bm]

The California Earthquake Authority (CEA) is looking to issue at least $250 million Ursa Re II Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from California earthquakes on an indemnity trigger and annual aggregate basis. [Source: Artemis.bm]

U.K.-based CommScope Connectivity fully insured its Andrew Limited Pension and Life Assurance Plan defined benefit (DB) pension scheme with Aviva for £63 million. [Read more at Pensions Expert]

U.S.-based Kingstone Companies will issue $125 million 1886 Re Ltd. (Series 2025-1) single-tranche four-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover losses from named storms across New York, New Jersey, Connecticut, Massachusetts and Rhode Island on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]

The Hanover Insurance Group is looking to issue at least $150 million Commonwealth Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from US named storms, earthquakes, severe thunderstorms, winter storms and wildfires on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]

Japanese insurer Zenkyoren will issue $100million Liongate Re DAC single-tranche three-year catastrophe (CAT) bonds. They will cover losses from Japanese earthquakes on an aggregate and indemnity trigger basis, and German earthquakes on a per-occurrence parametric basis. [Source: Artemis.bm]

Cancer Research UK completed a £280 million buy-in with Standard Life that covers around 2,800 members of its defined benefit pension scheme. It covers more than half of the scheme’s liabilities, valued at £402.5 million as of March 31, 2024. [Source: PensionsExpert]

Allstate is looking to issue at least $150 million Sanders Re II Ltd. (Series 2025-2) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from Florida named storm, earthquake, severe weather, wildfire, volcanic eruption, and meteorite impact on a cascading indemnity and per-occurrence trigger basis. [Source: Artemis.bm]

The Texas FAIR Plan Association (TFPA) (managed by the Texas Windstorm Insurance Association (TWIA)) will issue $200 million Bluebonnet Re Ltd. (Series 2025-2) single-tranche two-year catastrophe (CAT) bonds. They will cover losses from named storms, severe thunderstorms and wildfires in the State of Texas on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]

An illiquid asset sales platform is preparing for its first auction of investments from private sector defined benefit (DB) pension schemes. The platform, MeltX, is designed to help DB schemes sell illiquid assets such as infrastructure and real estate to access additional liquidity as they prepare for potential bulk annuity transactions. [Source: PensionsExpert]

Fidelis Insurance is looking to issue at least $75 million Herbie Re Ltd. (Series 2025-1) single-tranche two-year catastrophe (CAT) bonds. They will cover losses from North America named storms, North America earthquakes, US severe thunderstorms, US wildfires, US winter storms, US Caribbean earthquakes, Japan typhoons, Japan earthquakes, Canada severe storms, Canada winter storms, European windstorms, Italy earthquakes, Turkey earthquakes, Australia earthquakes, Australia tropical cyclones, and New Zealand earthquakes on an annual aggregate and industry loss index basis. [Source: Artemis.bm]

Slide Insurance Company will issue $250 million Purple Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms that impact Florida and South Carolina on an indemnity and per-occurrence basis. [Source: Artemis.bm]

US Coastal Insurance Company and US Coastal Property & Casualty Insurance Company will jointly issue $330 million Chartwell Re Ltd. (Series 2025-1) three-tranche three-year catastrophe (CAT) bonds, versus the original target of $310 million. They will cover losses from named storms that impact Alabama, Florida, Mississippi, New Jersey, New York, Rhode Island, and Texas, on an indemnity trigger, per-occurrence basis. [Source: Artemis.bm]

Citizens Property Insurance Corporation will issue $1,525 million Everglades Re II Ltd. (Series 2025-1) four-tranche three-year catastrophe (CAT) bonds, versus the original $975 million target. They will cover losses from named storms that impact Florida on an indemnity trigger basis. [Source: Artemis.bm]

USAA will issue $400 million Residential Reinsurance 2025 Limited (Series 2025-1) three-tranche four-year catastrophe (CAT) bonds, versus the original $400 million target. They will cover losses from U.S. tropical cyclones, earthquakes (plus fire following), severe thunderstorm, winter storm, wildfire, volcanic eruption, meteorite impact, other perils (all including auto & renter policy flood losses) on an annual aggregate and indemnity basis. [Source: Artemis.bm]

Ocean Harbor Insurance Group will issue $75 million Oceanside Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storm and severe weather risks in the state of New York on a per-occurrence basis and using an indemnity trigger. [Source: Artemis.bm]

The U.K. defined benefit (DB) risk transfer market is witnessing a “fundamental transformation” with insurer supply now exceeding demand for the first time in several years, Hymans Robertson has suggested... It credited a combination of growing insurer appetite, efficiency innovations and new providers joining the market for “significantly” boosting capacity, particularly for schemes under £100 million, which it said is leading to greater insurer competition across all transaction sizes. [Source PensionsAge]

The Massachusetts Property Insurance Underwriting Association (MPIUA)is looking to issue at least $150 million Mayflower Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from Massachusetts named storms, severe thunderstorms and winter storms on an indemnity and annual aggregate basis. [Source: Artemis.bm]