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Swiss Re seeking first Matterhorn Re catastrophe bond of 2021
Swiss Re seeking first Matterhorn Re catastrophe bond of 2021
Swiss Re is looking to issue $150 million or more Matterhorn Re Ltd. (Series 2021-1) four-year single-tranche CAT bonds. They will cover certain U.S. named storm and U.S. and Canadian earthquake losses, triggered on a per-occurrence basis, using weighted industry loss index triggers from Property Claim Services (PCS).
#ART#CAT#ILS
·artemis.bm·
Swiss Re seeking first Matterhorn Re catastrophe bond of 2021
Hannover Re seeks $100m peak peril aggregate 3264 Re retro cat bond
Hannover Re seeks $100m peak peril aggregate 3264 Re retro cat bond
Hannover Re is looking to issue $100 million or greater of 3264 Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. The bonds will cover losses from U.S. named storms, thunderstorms, wildfires and winter storms, as well as U.S. & Canada earthquakes, European windstorms, Caribbean earthquakes, Japan typhoons and earthquakes, Italy earthquakes, Turkey earthquakes, Australian cyclones and earthquakes, and New Zealand earthquakes, on an industry loss trigger basis.
#ART#ILS#CAT
·artemis.bm·
Hannover Re seeks $100m peak peril aggregate 3264 Re retro cat bond
COVID-19 concerns see La Vie Re mortality cat bond issuance pulled
COVID-19 concerns see La Vie Re mortality cat bond issuance pulled
Securian Financial Group, the life insurance subsidiary of Minnesota Life Insurance Company has been looking to issue $100 million or more of La Vie Re Limited (Series 2021-1) three-year mortality bonds. However, it has now apparently been cancelled after investor feedback related to investor concerns over the inclusion of coverage for increased mortality due to the COVID-19 pandemic. It was to have provided extreme mortality protection on an indemnity basis, with the notes triggering based on the Minnesota Life's annual loss ratio and for the covered business.
#ART#Mortality#ILS#CAT
·artemis.bm·
COVID-19 concerns see La Vie Re mortality cat bond issuance pulled
Farmers lifts Topanga Re cat bond target to $150m - 160m
Farmers lifts Topanga Re cat bond target to $150m - 160m
US insurer Farmers Insurance Group, a subsidiary of Zurich Insurance Group, is increasing the issuance target of its Topanga Re Ltd. (Series 2021-1) four-year two-tranche CAT bonds from $100 million to $150-160 million. It will cover certain losses from named storms, earthquakes, severe weather and wildfires affecting the United States, on a per-occurrence and indemnity trigger basis.
#ART#ILS#CAT
·artemis.bm·
Farmers lifts Topanga Re cat bond target to $150m - 160m
Longevity swaps expected in 2022, but capacity may be more limited: Mercer
Longevity swaps expected in 2022, but capacity may be more limited: Mercer
There have been £12 billion worth of longevity swaps in the UK pension risk transfer market in 2021, with total risk transfer including bulk annuity buy-in and out deals expected to reach £40 billion. Mercer reportedly expects that 2022 will eclipse this figure, forecasting some £60 billion of UK pension risk transfer for next year. However, insurance and reinsurance capacity to support these large pension de-risking deals may not be as abundant, given the expected higher levels of market activity.
#ART#Longevity#Pensions#UnitedKingdom
·artemis.bm·
Longevity swaps expected in 2022, but capacity may be more limited: Mercer
Ariel Re looks to upsize its Titania Re 2021-2 cat bond to $175m
Ariel Re looks to upsize its Titania Re 2021-2 cat bond to $175m
Global reinsurance firm Ariel Re is upsizing its issuance target for its Titania Re Ltd. (Series 2021-2) three-year single-tranche catastrophe bonds from $150 million to $175 million. The bonds will cover certain losses from U.S. 50 state, Puerto Rico, U.S. Virgin Islands, D.C. and Canada named storms and earthquakes.
#ART#ILS#CAT
·artemis.bm·
Ariel Re looks to upsize its Titania Re 2021-2 cat bond to $175m
NN Group targets first catastrophe bond with Orange Capital Re
NN Group targets first catastrophe bond with Orange Capital Re
Nationale-Nederlanden (NN) Group is seeking to issue EUR 75 million or more Orange Capital Re DAC (Series 2021-1) single-tranche three-year CAT bonds. The bonds will cover losses from windstorms and severe thunderstorms in the Netherlands and Belgium on an indemnity trigger and per-occurrence basis.
#ART#ILS#CAT
·artemis.bm·
NN Group targets first catastrophe bond with Orange Capital Re
Ariel Re gets upsized $175m Titania Re cat bond at below-guidance pricing
Ariel Re gets upsized $175m Titania Re cat bond at below-guidance pricing
Global reinsurance firm Ariel Re upsized its issue of Titania Re Ltd. (Series 2021-2) three-year single-tranche catastrophe bonds from $150 million to $175 million. The bonds will cover certain losses from U.S. 50 state, Puerto Rico, U.S. Virgin Islands, D.C. and Canada named storms and earthquakes.
#ART#ILS#CAT
·artemis.bm·
Ariel Re gets upsized $175m Titania Re cat bond at below-guidance pricing
AIG's Validus to renew Tailwind Re cat bond aggregate retrocession
AIG's Validus to renew Tailwind Re cat bond aggregate retrocession
Validus, the Bermuda headquartered reinsurance underwriting arm of AIG, is looking to issue $275 million or more Tailwind Re Ltd. (Series 2021-1) four-tranche three-year CAT bonds. It will cover U.S., Canada, Puerto Rico and U.S. Virgin Islands named storm and earthquake risks on an annual aggregate basis, using a weighted PCS industry loss index trigger.
#ART#ILS#CAT
·artemis.bm·
AIG's Validus to renew Tailwind Re cat bond aggregate retrocession
Farmers upsizes Topanga Re cat bond to $160m at top-end pricing
Farmers upsizes Topanga Re cat bond to $160m at top-end pricing
US insurer Farmers Insurance Group, a subsidiary of Zurich Insurance Group, issued $160 million Topanga Re Ltd. (Series 2021-1) four-year two-tranche CAT bonds. The original target was $100 million. from $100 million. They will cover certain losses from named storms, earthquakes, severe weather and wildfires affecting the United States, on a per-occurrence and indemnity trigger basis.
#ART#ILS#CAT
·artemis.bm·
Farmers upsizes Topanga Re cat bond to $160m at top-end pricing
Logistics Re cat bond priced at top-end of guidance for sponsor Prologis
Logistics Re cat bond priced at top-end of guidance for sponsor Prologis
Warehousing and supply-chain focused real estate investor Prologis issued $95 million Logistics Re Ltd. (Series 2021-1) three-year single-tranche CAT bonds. They will cover losses from US earthquakes across, 50 states (with California the peak exposure) on an indemnity and per-occurrence basis. The bonds were priced at the top of the 3% to 3.5% coupon guidance range.
#ART#ILS#CAT
·artemis.bm·
Logistics Re cat bond priced at top-end of guidance for sponsor Prologis
DB schemes derisk investments as funding levels improve
DB schemes derisk investments as funding levels improve
Defined benefit schemes are increasingly looking to derisk their investment approach to protect their improved funding levels, according to new research from Aon.The consultancy’s ‘Global risk survey’, which received responses from 137 UK representatives of schemes of all sizes, showed that three-quarters of schemes now have funding levels higher than they were before the pandemic. As a result, more than half (51 per cent) said they were looking to lower their equity exposure over the next year, while 34 per cent expected to increase their use of credit, and a further 37 per cent said they would allocate more to liability-driven investment strategies.
#ART#Pensions
·pensions-expert.com·
DB schemes derisk investments as funding levels improve
American Family to upsize Four Lakes Re 2021 cat bond to $125m
American Family to upsize Four Lakes Re 2021 cat bond to $125m
American Family Mutual Insurance Company is now looking to issue $125 million (versus the original $100 million) of Four Lakes Re Ltd. (Series 2021-1) three-year single-tranche multi-peril CAT bonds. They will cover losses from named storms, earthquakes, severe thunderstorms, winter storms, wildfires, volcanic eruptions and meteorite impacts across the United States, on an indemnity and per-occurrence trigger basis.
#ART#ILS#CAT
·artemis.bm·
American Family to upsize Four Lakes Re 2021 cat bond to $125m
Aon expects 2021 longevity swap activity to hit £15 billion
Aon expects 2021 longevity swap activity to hit £15 billion
Aon appears to be expecting another large longevity swap deal to complete before year end, forecasting that UK 2021 longevity swap volumes will reach £15 billion. So far in 2021, Artemis.bm has counted £12.7 billion of UK-focused pension scheme longevity swap arrangements, which is consistent with Mercer's £12 billion tally. Aon also estimates that £30 billion will be completed this year.
#ART#Longevity#Pensions
·artemis.bm·
Aon expects 2021 longevity swap activity to hit £15 billion
COSEFIN countries seek joint World Bank catastrophe bond
COSEFIN countries seek joint World Bank catastrophe bond
The Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN) hopes to tap into the capital markets for disaster insurance protection through a joint catastrophe bond issuance, with the support of the World Bank. The COSEFIN countries already benefit from parametric disaster insurance protection through the CCRIF SPC, but having noticed the success of Jamaica’s single-country catastrophe bond in the last year.
#ILS#CAT#ART
·artemis.bm·
COSEFIN countries seek joint World Bank catastrophe bond
Bonanza Re cat bond issuance shrinks, pricing rises for American Strategic
Bonanza Re cat bond issuance shrinks, pricing rises for American Strategic
ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has reduced its issuance target for its Bonanza Re Ltd. (Series 2021-1) one-year zero-coupon discount CAT bonds, from $100 million to as little as $75 million. It is also likely dropping the riskier of the two tranches it planned to offer. The bonds will still cover losses from U.S. named storms, severe thunderstorms, winter storms, wildfires and earthquakes, on an indemnity trigger basis.
#ART#ILS#CAT
·artemis.bm·
Bonanza Re cat bond issuance shrinks, pricing rises for American Strategic
Hannover Re's new aggregate cat bond prices at top of revised guidance
Hannover Re's new aggregate cat bond prices at top of revised guidance
Hannover Re completed the issuance of $100 million of 3264 Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. The bonds will cover losses from U.S. named storms, thunderstorms, wildfires and winter storms, as well as U.S. & Canada earthquakes, European windstorms, Caribbean earthquakes, Japan typhoons and earthquakes, Italy earthquakes, Turkey earthquakes, Australian cyclones and earthquakes, and New Zealand earthquakes, on an industry loss trigger basis.
#ART#ILS#CAT
·artemis.bm·
Hannover Re's new aggregate cat bond prices at top of revised guidance
Bonanza Re cat bond shrinks to $80m, prices at top-end
Bonanza Re cat bond shrinks to $80m, prices at top-end
ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, ended up issuing $80 million Bonanza Re Ltd. (Series 2021-1) one-year zero-coupon discount CAT bonds, versus the original $100 million target. It is also dropped the riskier of the two tranches it planned to offer. The bonds will still cover losses from U.S. named storms, severe thunderstorms, winter storms, wildfires and earthquakes, on an indemnity trigger basis.
#ART#ILS#CAT
·artemis.bm·
Bonanza Re cat bond shrinks to $80m, prices at top-end
Munich Re renews first Eden Re II sidecar tranche for 2022
Munich Re renews first Eden Re II sidecar tranche for 2022
Munich Re is close to completing a renewal of its Eden Re II Ltd. fully collateralized reinsurance sidecar vehicle for 2022, with a $42.1 million tranche of Series 2022-1 Class A notes maturing March 20, 2026.
#ART#CAT#ILS
·artemis.bm·
Munich Re renews first Eden Re II sidecar tranche for 2022
Direct, bilateral sidecars & quota shares a growing piece of ILS market: GC
Direct, bilateral sidecars & quota shares a growing piece of ILS market: GC
"Direct proportional sidecar and quota share reinsurance or retrocession arrangements are helping that segment of the insurance-linked securities (ILS) market to expand after a few years of challenges, reinsurance broker Guy Carpenter has reported."
#ART#ILS#CAT
·artemis.bm·
Direct, bilateral sidecars & quota shares a growing piece of ILS market: GC
NN Group’s first Orange Capital Re cat bond priced at low-end of guidance
NN Group’s first Orange Capital Re cat bond priced at low-end of guidance
Nationale-Nederlanden (NN) Group finalized the issuance of EUR 75 million Orange Capital Re DAC (Series 2021-1) single-tranche three-year CAT bonds. The bonds will cover losses from windstorms and severe thunderstorms in the Netherlands and Belgium on an indemnity trigger and per-occurrence basis.
#ART#ILS#CAT
·artemis.bm·
NN Group’s first Orange Capital Re cat bond priced at low-end of guidance
New Tailwind Re cat bond from AIG's Validus could hit $425m
New Tailwind Re cat bond from AIG's Validus could hit $425m
Validus, the Bermuda headquartered reinsurance underwriting arm of AIG, looks likely to upsize to at least $400 million its issue of Tailwind Re Ltd. (Series 2021-1) four-tranche three-year CAT bonds, versus the original $275 million target. It will cover U.S., Canada, Puerto Rico and U.S. Virgin Islands named storm and earthquake risks on an annual aggregate basis, using a weighted PCS industry loss index trigger.
#ART#ILS#CAT
·artemis.bm·
New Tailwind Re cat bond from AIG's Validus could hit $425m
MS Amlin repeats Asian cat risk sidecar with $37.5m Phoenix 2 Re
MS Amlin repeats Asian cat risk sidecar with $37.5m Phoenix 2 Re
MS Amlin issued $37.5 million Series 2022-1 two-tranche seven-year notes through its Singapore special-purpose reinsurance vehicle (SPRV) Phoenix 2 Re Pte. Ltd. CAT risk collateralized reinsurance sidecar arrangement.
#ART#CAT#ILS
·artemis.bm·
MS Amlin repeats Asian cat risk sidecar with $37.5m Phoenix 2 Re
AIG’s Validus secures Tailwind Re retro cat bond renewal at $400m in size
AIG’s Validus secures Tailwind Re retro cat bond renewal at $400m in size
Validus, the Bermuda headquartered reinsurance underwriting arm of AIG, issued $400 million Tailwind Re Ltd. (Series 2021-1) four-tranche three-year CAT bonds, upsized from the original $275 million target. It will cover U.S., Canada, Puerto Rico and U.S. Virgin Islands named storm and earthquake risks on an annual aggregate basis, using a weighted PCS industry loss index trigger.
#ART#CAT#ILS
·artemis.bm·
AIG’s Validus secures Tailwind Re retro cat bond renewal at $400m in size
Catastrophe bonds break record in 2021, as market expands again: Report
Catastrophe bonds break record in 2021, as market expands again: Report
The market for CAT bonds and related insurance-linked securities saw records broken once again in 2021, as annual issuance surpassed the previous high set a year ago and reached $14 billion across pure property and other line of business CAT bonds and private deals, according to Artemis’ data.
#ART#CAT#ILS
·artemis.bm·
Catastrophe bonds break record in 2021, as market expands again: Report
ILS capital expands in 2021, but up to 5% of reinsurance trapped: GC & AM Best
ILS capital expands in 2021, but up to 5% of reinsurance trapped: GC & AM Best
Alternative reinsurance capital levels in the global industry grew 3.7% during 2021, outpacing the 2.7% growth of traditional reinsurance industry capital, according to Guy Carpenter and AM Best. However, within the overall dedicated reinsurance sector capital estimate of $534 billion at end-2021, there is still a significant amount of trapped insurance-linked securities collateral included there.
#ART#CAT#ILS
·artemis.bm·
ILS capital expands in 2021, but up to 5% of reinsurance trapped: GC & AM Best
Vesuvius completes £305m buy-in with PIC - DB & Derisking
Vesuvius completes £305m buy-in with PIC - DB & Derisking
The Vesuvius Pension Plan has completed a final buy-in with Pension Insurance Corporation, covering £305 million of liabilities. This bulk annuity deal is the seventh transaction of the defined benefit scheme sponsored by the metal flow engineering company. With a total of £600 million in liabilities, the scheme is now fully insured with PIC, so Vesuvius no longer bears any investment, longevity, interest rate or inflation risks in respect of the DB scheme.
#ART#Pensions#Longevity
·pensions-expert.com·
Vesuvius completes £305m buy-in with PIC - DB & Derisking