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American Integrity returns with $375m target for Integrity Re III catastrophe bond
American Integrity returns with $375m target for Integrity Re III catastrophe bond
American Integrity Insurance Company is looking to issue $375 million Integrity Re III Ltd. (Series 2025-1) seven-tranche catastrophe (CAT) bonds of varying terms to maturity from two to three years. All tranches will cover losses from named storm reinsurance protection across the states of Florida, Georgia, North Carolina and South Carolina, on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]
#ART#CAT#ILS#UnitedStates
·artemis.bm·
American Integrity returns with $375m target for Integrity Re III catastrophe bond
GeoVera secures its largest cat bond yet, as $450m Veraison Re 2025-1 priced
GeoVera secures its largest cat bond yet, as $450m Veraison Re 2025-1 priced
GeoVera Insurance Holdings, Ltd. will issue $450 million Veraison Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $275 million target. They will cover losses from US earthquakes on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
GeoVera secures its largest cat bond yet, as $450m Veraison Re 2025-1 priced
MS Amlin grows Phoenix Re sidecar to $90m for 2025
MS Amlin grows Phoenix Re sidecar to $90m for 2025
"Re/insurer MS Amlin has again returned to the capital markets for a fifth renewal of its collateralized catastrophe quota share reinsurance sidecar vehicle Phoenix Re and it takes the sidecar platform to its largest yet at $90 million for 2025." [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
MS Amlin grows Phoenix Re sidecar to $90m for 2025
Hiscox sponsoring second Ocelot Re cat bond with $200m target
Hiscox sponsoring second Ocelot Re cat bond with $200m target
Hiscox Group is looking to issue at least $200 million Ocelot Re Ltd. (Series 2025-1) two-tranche four-year catastrophe (CAT) bonds. They will cover losses from US and Canada named storms and earthquakes. One tranche of will be structured to provide annual aggregate and weighted PCS industry-loss trigger based coverage, while the second will provide industry-loss index trigger second and subsequent event occurrence protection. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
Hiscox sponsoring second Ocelot Re cat bond with $200m target
2024 was record year for bulk annuities, data shows
2024 was record year for bulk annuities, data shows
According to Willis Tower Watson (WTW), combined UK bulk annuity and longevity swap volumes reached £60 billion in 2024. This consisted of about £52 billion worth of bulk annuity deals (record year exceeding 2023’s £49.1 billion figure) and £8 billion in longevity swaps. WTW forecasts that the two markets will exceed £70 billion in total this year (2025) amid continued high demand from defined benefit (DB) pension schemes. https://www.wtwco.com/en-gb/news/2025/01/wtw-forecasts-pound-70bn-in-pension-bulk-annuity-and-longevity-swap-transactions-in-2025 [Source: Pensions Expert]
#ART#Pensions#Longevity#UnitedKingdom
·pensions-expert.com·
2024 was record year for bulk annuities, data shows
L&G insures Sanofi pension fund for £1.4bn
L&G insures Sanofi pension fund for £1.4bn
Legal & General (L&G) has completed a £1.4 billion buy-in with the Sanofi Pension Scheme. The deal insures the benefits of 4,900 retirees and 5,600 deferred members. It means that the pension scheme is now fully insured with L&G, following a 2021 £760 million buy-in. [Source: Pensions Expert]
#Pensions#Longevity#ART#UnitedKingdom
·pensions-expert.com·
L&G insures Sanofi pension fund for £1.4bn
Security First seeks $210m Florida named storm cat bond, First Coast Re IV 2025-1
Security First seeks $210m Florida named storm cat bond, First Coast Re IV 2025-1
Florida-based Security First Insurance Company is looking to issue at least $210 million First Coast Re IV Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from Florida named storms on an indemnity trigger per-occurrence and cascading basis (the reinsurance will cascade down the tower if layers beneath are eroded). [Source: Artemis.bm]
#ART
·artemis.bm·
Security First seeks $210m Florida named storm cat bond, First Coast Re IV 2025-1
Hannover Re secures upsized $200m aggregate retro from 3264 Re 2025 cat bond
Hannover Re secures upsized $200m aggregate retro from 3264 Re 2025 cat bond
Hannover Re will issue $200 million 3264 Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $175 million. They will cover losses from North America named storms and earthquakes, US severe thunderstorms and winter storms, Puerto Rican and US Virgin Islands earthquakes, Japanese typhoons and earthquakes, Canadian severe thunderstorms and winter storms, European windstorms; Italian earthquakes, Turkish earthquakes, Australian tropical cyclones and earthquakes, and New Zealand earthquakes, on an annual aggregate basis using either PCS or PERILS industry loss index triggers. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
Hannover Re secures upsized $200m aggregate retro from 3264 Re 2025 cat bond
Swiss Re prices Matterhorn Re 2025-1 cat bond for $210m retro at reduced spreads
Swiss Re prices Matterhorn Re 2025-1 cat bond for $210m retro at reduced spreads
Swiss Re will issue $210 million Matterhorn Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $150 million target. They will cover losses from North American earthquakes and named storms on an annual aggregate and weighted industry loss index trigger basis. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
Swiss Re prices Matterhorn Re 2025-1 cat bond for $210m retro at reduced spreads
Rockwool pension scheme completes £53m buy-in with Royal London
Rockwool pension scheme completes £53m buy-in with Royal London
The Rockwool Limited Penson Scheme completed a £53 million full-scheme buy-in with Royal London. The transaction was led by Isio, which worked alongside the scheme’s professional corporate sole trustee Independent Governance Group (IGG), legal adviser Eversheds Sutherland, and Royal London. [Source: PensionsAge]
#Pensions#UnitedKingdom#Longevity#ART
·pensionsage.com·
Rockwool pension scheme completes £53m buy-in with Royal London
Inigo secures 15% upsized $115m Montoya Re cat bond
Inigo secures 15% upsized $115m Montoya Re cat bond
Inigo Insurance will issue $115 million Montoya Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover losses from U.S. named storms, and U.S. and Canada earthquakes, using a PCS industry loss index trigger, the Class A tranche on an annual aggregate basis and the Class B tranche on a second and subsequent event per-occurrence basis. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
Inigo secures 15% upsized $115m Montoya Re cat bond
Aetna secures sixteenth Vitality Re health ILS as largest ever at $250m
Aetna secures sixteenth Vitality Re health ILS as largest ever at $250m
U.S.-based Aetna will issue $250 million Vitality Re XVI Ltd (Series 2025) three-tranche four-year health and medical benefits catastrophe (CAT) bonds. They will cover payouts on Aetna's health and medical insurance on a medical benefit claim ratio basis, which is effectively an indemnity trigger based on the health and medical benefits insurers’ claims experience. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
Aetna secures sixteenth Vitality Re health ILS as largest ever at $250m
SageSure seeks $410m first/second event Gateway Re 2025-1 cat bond
SageSure seeks $410m first/second event Gateway Re 2025-1 cat bond
SageSure is looking to issue at least $410 million Gateway Re Ltd. (Series 2025-1) five-tranche three-year catastrophe (CAT) bonds. Three tranches are coupon bearing and designed to secure per-occurrence excess-of-loss reinsurance protection, while two others are zero-coupon notes designed to secure excess-of-loss second and subsequent coverage. They will cover losses from US named storms on an indemnity trigger basis, with slight variations between tranches as to which states are covered. [Source: Artemis.bm]
#ART#CAT#ILS#UnitedStates
·artemis.bm·
SageSure seeks $410m first/second event Gateway Re 2025-1 cat bond
CEA targets $200m of quake reinsurance with Ursa Re 2025-1 catastrophe bond
CEA targets $200m of quake reinsurance with Ursa Re 2025-1 catastrophe bond
The California Earthquake Authority (CEA) is looking to issue at least $200 million Ursa Re 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]
#ART#CAT#ILS
·artemis.bm·
CEA targets $200m of quake reinsurance with Ursa Re 2025-1 catastrophe bond
Are pension funders turning against insured annuities?
Are pension funders turning against insured annuities?
A Schroders report implies that the cost of U.K. pension scheme buy-ins and buy-outs is becoming increasingly expensive, as the yield spread between gilts and interest rate swaps ("z-spread") widens. This impacts buy-in and buy-out costs because insurance companies are required to value their liabilities relative to swaps. However, according to Schroders, for those pension schemes not looking to buy-in or buy-out, or seeking to run their scheme on, the yield on gilts versus that available on swaps remains very attractive and could be seen as an opportunity rather than a risk." https://www.schroders.com/en-gb/uk/institutional/insights/the-widening-gilt-swap-spread/
#Pensions#Longevity#ART
·henrytapper.com·
Are pension funders turning against insured annuities?
Pension risk transfer market set for vibrant 2025
Pension risk transfer market set for vibrant 2025
Lane Clark & Peacock (LCP) is forecasting £40-50 billion of buy-ins for the third year running and over 300 transactions for the first time. Well-funded schemes are finding themselves in a position of real choice between insurance, run-on, or a combination of the two. However, LCP expects insurance to remain the ultimate endgame for the majority of schemes, driving continued high demand for buy-ins over the next decade. Numbers of smaller scheme transactions will continue to grow as insurers increase their dedicated capacity, which will propel 2025 transaction numbers to new heights. LCP expects buy-in pricing to remain favorable as insurance capacity continues to exceed demand and as new entrants make their presence felt, further increasing competition. [Source: LCP]
#Pension#UnitedKingdom#ART#Longevity
·lcp.com·
Pension risk transfer market set for vibrant 2025
Compass takes a bite out of DB risk with £1.5bn buy-in
Compass takes a bite out of DB risk with £1.5bn buy-in
"Compass Group has secured the “majority” of its defined benefit (DB) scheme’s membership through a £1.5 billion bulk annuity deal with Standard Life. The buy-in covers 14,000 pensioner members and 11,000 deferred members of the Compass Group Pension Plan." [Source Pensions Expert]
#Pensions#UnitedKingdom#Longevity#ART
·pensions-expert.com·
Compass takes a bite out of DB risk with £1.5bn buy-in
C&J Clark pension fund completes £540m buy-in with PIC
C&J Clark pension fund completes £540m buy-in with PIC
"C&J Clark Pension Fund completed a £540 million buy-in with Pension Insurance Corporation (PIC), securing the pensions of almost 5,000 pensioners and dependents and over 3,000 deferred policyholders. It follows the scheme's first buy-in with PIC, for £280 millions in 2022, and means the PIC has now insured all £820 million of the fund's defined benefit (DB) liabilities." [Source PensionsAge]
#Pensions#UnitedKingdom#Longevity#ART
·pensionsage.com·
C&J Clark pension fund completes £540m buy-in with PIC
GeoVera targets largest Veraison Re earthquake cat bond yet, at $275m
GeoVera targets largest Veraison Re earthquake cat bond yet, at $275m
GeoVera Insurance Holdings, Ltd. is looking to issue at least $275 million Veraison Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from US earthquakes on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
GeoVera targets largest Veraison Re earthquake cat bond yet, at $275m
TD Insurance secures debut C$150m MMIFS Re cat bond priced at lowest-end
TD Insurance secures debut C$150m MMIFS Re cat bond priced at lowest-end
Canada-based TD Insurance will issue C$150 million MMIFS Re Ltd. (Series 2025-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from earthquakes and severe convective storms (SCS) in Canada on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
TD Insurance secures debut C$150m MMIFS Re cat bond priced at lowest-end
Ark renews Outrigger Re sidecar for 2025 at slightly smaller $230m
Ark renews Outrigger Re sidecar for 2025 at slightly smaller $230m
White Mountains Insurance Group subsidiary Ark Insurance Holdings has renewed its collateralized reinsurance sidecar Outrigger Re Ltd. for the 2025 calendar year. White Mountains contributed $150 million of capital of its $230 million funding. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Ark renews Outrigger Re sidecar for 2025 at slightly smaller $230m
Swiss Re seeks $150m wind / quake retrocession from Matterhorn Re 2025-1 cat bond
Swiss Re seeks $150m wind / quake retrocession from Matterhorn Re 2025-1 cat bond
Swiss Re is looking to issue at least $150 million Matterhorn Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from North American earthquakes and named storms on an annual aggregate and weighted industry loss index trigger basis.. [Source: Artemis.bm]
#CAT#ILS#ART
·artemis.bm·
Swiss Re seeks $150m wind / quake retrocession from Matterhorn Re 2025-1 cat bond
Hannover Re seeks worldwide peril aggregate retro with $175m 3264 Re 2025 cat bond
Hannover Re seeks worldwide peril aggregate retro with $175m 3264 Re 2025 cat bond
Hannover Re is looking to issue at least $175 million 3264 Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from North America named storms and earthquakes, US severe thunderstorms and winter storms, Puerto Rican and US Virgin Islands earthquakes, Japanese typhoons and earthquakes, Canadian severe thunderstorms and winter storms, European windstorms; Italian earthquakes, Turkish earthquakes, Australian tropical cyclones and earthquakes, and New Zealand earthquakes, on an annual aggregate basis using either PCS or PERILS industry loss index triggers. [Source: Artemis.bm]
#CAT#ART#ILS
·artemis.bm·
Hannover Re seeks worldwide peril aggregate retro with $175m 3264 Re 2025 cat bond
CCR Re launches seventh 157 Re reinsurance sidecar
CCR Re launches seventh 157 Re reinsurance sidecar
France-based CCR Re announced the successful renewal and launch of a seventh property catastrophe (CAT) sidecar in the 157 Re series of deals. Now in its seventh year, the company has sponsored a 157 Re reinsurance sidecar annually since 2019, but the sizes of the sidecars have never been disclosed. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
CCR Re launches seventh 157 Re reinsurance sidecar
Inigo seeks $100m fourth Montoya Re cat bond
Inigo seeks $100m fourth Montoya Re cat bond
Inigo Insurance is looking to issue at least $100 million Montoya Re Ltd. (Series 2025-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from U.S. named storms, and U.S. and Canada earthquakes, using a PCS industry loss index trigger, the Class A tranche on an annual aggregate basis and the Class B tranche on a second and subsequent event per-occurrence basis. [Source: Artemis.bm]
#CAT#ART#ILS
·artemis.bm·
Inigo seeks $100m fourth Montoya Re cat bond