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USAA targets $375m+ Residential Re 2022-1 aggregate cat bond
USAA targets $375m+ Residential Re 2022-1 aggregate cat bond
USAA is looking to issue at least $375 million of Residential Reinsurance 2022 Limited (Series 2022-1) five-tranche CAT bonds. One as yet unsized tranche of notes will provide one year of annual aggregate and indemnity trigger based coverage, while the other four will provide four-years of coverage on an aggregate indemnity basis, against losses from multiple US perils.
#ART#CAT#ILS
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USAA targets $375m+ Residential Re 2022-1 aggregate cat bond
Vantage Risk targets second catastrophe bond, $65m+ Vista Re 2022-1
Vantage Risk targets second catastrophe bond, $65m+ Vista Re 2022-1
Vantage Risk Ltd. is looking to issue at least $65 million of Vista Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. They will cover certain losses from North American named storms and earthquakes, on an industry loss trigger basis, which is state weighted and calculated over annual risk periods to provide aggregate protection.
#ART#CAT#ILS
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Vantage Risk targets second catastrophe bond, $65m+ Vista Re 2022-1
RenRe launches $475m casualty & specialty lines JV Fontana Holdings
RenRe launches $475m casualty & specialty lines JV Fontana Holdings
"Bermuda-based RenaissanceRe Holdings Ltd. (RenRe) has created its first third-party reinsurance capital backed joint venture focused on casualty and specialty risk, Fontana Holdings L.P., which launches with $475 million of capital, most of which comes from institutional investors."
#ART#ILS#CAT
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RenRe launches $475m casualty & specialty lines JV Fontana Holdings
Coastal writer SURE targets debut cat bond, $150m Gateway Re
Coastal writer SURE targets debut cat bond, $150m Gateway Re
The SureChoice Underwriters Reciprocal Exchange, is looking to issue $150 million Gateway Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will cover US named storm and hurricane protection, initially focused only on the Gulf Coast states of Alabama, Louisiana, Mississippi, Texas, on an indemnity trigger and per-occurrence basis across three full Atlantic hurricane seasons.
#ART#ILS#CAT
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Coastal writer SURE targets debut cat bond, $150m Gateway Re
Safepoint's new Manatee Re II cat bond issuance cancelled
Safepoint's new Manatee Re II cat bond issuance cancelled
U.S. primary insurer Safepoint Insurance has canceled plans to issue at least $125 million of Manatee Re II Ltd. (Series 2022-1) two-tranche three-year CAT bonds, probably due to pricing considerations versus traditional reinsurance markets. They were to cover losses from US named tropical storms and hurricanes, through an indemnity trigger with coverage on a per-occurrence basis.
#ART#CAT#ILS#UnitedStates
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Safepoint's new Manatee Re II cat bond issuance cancelled
Citrus Re 2022-1 cat bond from Heritage sees pricing rise
Citrus Re 2022-1 cat bond from Heritage sees pricing rise
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. Price guidance has increased since the prospective deal was announced, in another sign that investors may be asking for higher returns for particular peak US named storm and hurricane exposure.
#ART#CAT#ILS#UnitedStates
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Citrus Re 2022-1 cat bond from Heritage sees pricing rise
Heritage's new Citrus Re 2022 cat bond priced above guidance
Heritage's new Citrus Re 2022 cat bond priced above guidance
Florida-based Heritage Insurance Holdings issued $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.
#ART#ILS#CAT#UnitedStates
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Heritage's new Citrus Re 2022 cat bond priced above guidance
UnipolSai seeks €100m cat bond quake reinsurance with Azzurro Re II 2022
UnipolSai seeks €100m cat bond quake reinsurance with Azzurro Re II 2022
In May 2022, UnipolSai Assicurazioni S.p.A. was looking to issue €100 million of Azzurro Re II DAC (Series 2022-1) CAT single-tranche 3.5-year CAT bonds. It was to cover claims related to earthquakes impacting Italy and neighboring countries on an indemnity trigger and per-occurrence basis. However, the issue was pulled due to lack of investor interest.
#ART#ILS#CAT
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UnipolSai seeks €100m cat bond quake reinsurance with Azzurro Re II 2022
Swiss Re gets $1.15bn stop-loss cover in hybrid cat bond / loan transaction
Swiss Re gets $1.15bn stop-loss cover in hybrid cat bond / loan transaction
Swiss Re issued $150 million of Series 2022-1 Class A Principal At-Risk Variable Rate Notes via its Bermuda-based Matterhorn Re special purpose insurer. The privately-placed single tranche CAT bond will mature in five years. It covers losses across all of Swiss Re's underwriting books, with a trigger based on the economic result of each individual financial year.
#ART#ILS#CAT
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Swiss Re gets $1.15bn stop-loss cover in hybrid cat bond / loan transaction
William Hill insures all liabilities
William Hill insures all liabilities
The William Hill Pension Scheme completed a £290 million buy-in transaction with Rothesay in June 2021. The bulk annuity covers the liabilities of 1,188 pensioners and dependents and 773 deferred members. This is the scheme’s second buy-in following a £180 million transaction agreed in 2018 with Just Group. Together, the two buy-ins insure the entirety of the scheme’s DB liabilities.
#ART#Longevity#Pensions#UnitedKingdom
·pensions-expert.com·
William Hill insures all liabilities
TransRe targets international retro with Bowline Re 2022 catastrophe bond
TransRe targets international retro with Bowline Re 2022 catastrophe bond
New York-headquartered TransRe is looking to issue at least $175 million Bowline Re Ltd. (Series 2022-1) three-tranche three-year CAT bonds. They will cover US perils on a per-occurrence basis and Japanese earthquakes on an annual aggregate basis, on an industry loss trigger basis.
#ART#ILS#CAT
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TransRe targets international retro with Bowline Re 2022 catastrophe bond
Vantage secures $65m Vista Re cat bond, priced 15% above mid-point
Vantage secures $65m Vista Re cat bond, priced 15% above mid-point
Vantage Risk Ltd. issued $65 million of Vista Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. They cover certain losses from North American named storms and earthquakes, on an industry loss trigger basis, which is state weighted and calculated over annual risk periods to provide aggregate protection.
#ART#CAT#ILS
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Vantage secures $65m Vista Re cat bond, priced 15% above mid-point
SURE secures debut $150m Gateway Re cat bond at top-end pricing
SURE secures debut $150m Gateway Re cat bond at top-end pricing
The SureChoice Underwriters Reciprocal Exchange issued $150 million Gateway Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will cover US named storm and hurricane protection, initially focused only on the Gulf Coast states of Alabama, Louisiana, Mississippi, Texas, on an indemnity trigger and per-occurrence basis across three full Atlantic hurricane seasons.
#ART#ILS#CAT
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SURE secures debut $150m Gateway Re cat bond at top-end pricing
USAA's latest cat bond sees riskiest tranche pulled, as prices rise
USAA's latest cat bond sees riskiest tranche pulled, as prices rise
USAA is looking to issue at least $375 million of Residential Reinsurance 2022 Limited (Series 2022-1) four-tranche four-year CAT bonds. It will provide four-years of coverage on an aggregate indemnity basis, against losses from multiple US perils. Initial plans were for a five-tranche deal with one tranche, now dropped, providing a year of annual aggregate and indemnity trigger based coverage.
#ART#ILS#CAT
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USAA's latest cat bond sees riskiest tranche pulled, as prices rise
Travelers returns for $300m+ Long Point Re IV catastrophe bond
Travelers returns for $300m+ Long Point Re IV catastrophe bond
Travelers is looking to issue at least $300 million of Long Point Re IV Ltd. (Series 2022-1) single-tranche four-year CAT bonds. It will cover tropical cyclones, earthquakes, severe thunderstorms, and winter storm events across northeastern U.S. states, on an indemnity trigger and per-occurrence basis.
#ART#ILS#CAT#UnitedStates
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Travelers returns for $300m+ Long Point Re IV catastrophe bond
Florida Citizens seeks $100m+ PLA focused Everglades Re II cat bond
Florida Citizens seeks $100m+ PLA focused Everglades Re II cat bond
Florida’s Citizens Property Insurance is looking to issue at least $100 million of Everglades Re II Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will cover named storms or hurricanes impacting the state of Florida on an annual aggregate and indemnity trigger basis.
#ART#ILS#CAT#UnitedStates
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Florida Citizens seeks $100m+ PLA focused Everglades Re II cat bond
USAA to upsize new cat bond to $415m as coupons all rise
USAA to upsize new cat bond to $415m as coupons all rise
USAA is looking to issue $415 million of Residential Reinsurance 2022 Limited (Series 2022-1) four-tranche four-year CAT bonds (up from the $275 million original target). It will provide four-years of coverage on an aggregate indemnity basis, against losses from multiple US perils. Initial plans were for a five-tranche deal with one tranche, now dropped, providing a year of annual aggregate and indemnity trigger based coverage.
#ART#ILS#CAT
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USAA to upsize new cat bond to $415m as coupons all rise
USAA's new Residential Re cat bond upsized again to $430m
USAA's new Residential Re cat bond upsized again to $430m
USAA is now looking to issue $430 million of Residential Reinsurance 2022 Limited (Series 2022-1) four-tranche four-year CAT bonds (up from the $375 million (and then $415 million) original target). It will provide four-years of coverage on an aggregate indemnity basis, against losses from multiple US perils. Initial plans were for a five-tranche deal with one tranche, now dropped, providing a year of annual aggregate and indemnity trigger based coverage.
#ART#ILS#CAT
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USAA's new Residential Re cat bond upsized again to $430m
American Integrity's new Integrity Re cat bond restructured & downsized
American Integrity's new Integrity Re cat bond restructured & downsized
American Integrity Insurance Company of Florida is now looking to issue only $75 million of Integrity Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will cover named storm events in Florida, on a first-event basis. American Integrity was originally looking to issue at least $125 million of two-tranche bonds on an indemnity and cascading per-occurrence basis.
#ART#ILS#CAT#UnitedStates
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American Integrity's new Integrity Re cat bond restructured & downsized
Universal Office Supplies scheme agrees £47mn buy-in
Universal Office Supplies scheme agrees £47mn buy-in
The Universal Office Supplies Pension Scheme has agreed to a £47 million buy-in with Legal & General covering the benefits of more than 175 deferred members and 85 retirees. It was carried out in two tranches to facilitate the smooth divestment of scheme assets (£42 million in October 2021 and £5 million in January 2022).
#ART#Longevity#Pensions#UnitedKingdom
·pensions-expert.com·
Universal Office Supplies scheme agrees £47mn buy-in
Allstate targets $250m+ catastrophe bond as part of Florida renewal
Allstate targets $250m+ catastrophe bond as part of Florida renewal
Allstate is looking to issue $250 million or greater of Sanders Re III Ltd. (Series 2022-2) three-tranche CAT bonds. The first two are indemnity trigger, per-occurrence based and structured to cascade as other reinsurance beneath is eroded over their three-year terms. The third tranche is indemnity based and non-cascading over its one-year term. They will cover named storm, earthquake, severe thunderstorm, volcanic eruption, meteorite impact and wildfires impacting the state of Florida.
#ART#ILS#CAT#UnitedStates
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Allstate targets $250m+ catastrophe bond as part of Florida renewal
Core Specialty seeks $75m Yosemite Re cat bond to initially cover StarStone
Core Specialty seeks $75m Yosemite Re cat bond to initially cover StarStone
Core Specialty is looking to issue at least $75 million of Yosemite Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds. It will cover losses from named storms and earthquakes across the United States on an indemnity and per-occurrence basis.
#ART#ILS#CAT
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Core Specialty seeks $75m Yosemite Re cat bond to initially cover StarStone
SCOR expands reinsurance sidecar capacity to US $400m
SCOR expands reinsurance sidecar capacity to US $400m
French reinsurer SCOR has increased its third-party capital support by $100 million in the first-quarter of 2022, taking the capital managed under its collateralized reinsurance sidecar platform to $400 million.
#ART#ILS#CAT
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SCOR expands reinsurance sidecar capacity to US $400m
Palomar's new Torrey Pines cat bond sees considerable price rise
Palomar's new Torrey Pines cat bond sees considerable price rise
The pricing of Palomar Insurance's latest CAT bond issue has increased considerably. The California-based insurer was seeking to issue at least $300 million of Torrey Pines Re Ltd. (Series 2022-1) three-year two-tranche CAT bonds to cover US-wide earthquake reinsurance protection, on an indemnity and per-occurrence basis. It is now seeking only $300 million at much higher prices. In the current "risk off" environment, investors are generally demanding higher returns on CAT bonds.
#ART#ILS#CAT
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Palomar's new Torrey Pines cat bond sees considerable price rise
Peak Re targets Hong Kong cat bond Black Kite Re for Japan typhoon retro
Peak Re targets Hong Kong cat bond Black Kite Re for Japan typhoon retro
Hong Kong-based Peak Reinsurance (Peak Re) is looking to issue $75 million of Black Kite Re Limited (Series 2022-1) single-tranche three-year CAT bonds. It will cover Japanese typhoon events using an industry loss trigger on a per-occurrence basis.
#ART#CAT#ILS
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Peak Re targets Hong Kong cat bond Black Kite Re for Japan typhoon retro
TWIA targets $185m+ Alamo Re 2022-1 for cat bond renewal
TWIA targets $185m+ Alamo Re 2022-1 for cat bond renewal
The Texas Windstorm Insurance Association (TWIA) is looking to issue at least $185 million of Alamo Re Ltd. (Series 2022-1) single-tranche three-year CAT bond. It will cover losses from named storms and severe thunderstorms in Texas on an indemnity trigger and annual aggregate basis.
#ART#ILS#CAT#UnitedStates
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TWIA targets $185m+ Alamo Re 2022-1 for cat bond renewal