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

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.

"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."

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.

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.

"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."

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]

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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 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.

Bermuda-based Arch Capital has sponsored the issuance of two new series of preferred shares from its Voussoir Re Ltd., collateralized reinsurance sidecar style special purpose insurance (SPI) vehicle. They have been privately placed with qualified institutional investors.

Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance are looking to issue $245 million (versus the original $240 million) Tomoni Re Pte Ltd. Series 2022-1 and 2022-2 four-year CAT bonds. However, it is now a two tranche issue (versus the original four), but they will still cover certain losses caused by typhoons and floods in Japan, on an indemnity trigger basis.

Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance issued $220 million (versus the originally targeted $240 million) Tomoni Re Pte Ltd. Series 2022-1 and 2022-2 four-year CAT bonds. Originally it was structured in two series, one to provide occurrence reinsurance, the other aggregate, and each featuring two tranches of notes. However, it is now a two tranche issue, but they will still cover certain losses caused by typhoons and floods in Japan, on an indemnity trigger basis.

Aon’s Bermuda domiciled White Rock Insurance (SAC) Ltd. has issued $16.2 million of Asagao V single-tranche one-year CAT bonds privately to institutional investors. The notes likely cover Japanese earthquake losses, with a parametric trigger, like previously-issued notes in the series.

Direct-to-consumer Insurtech Kin Insurance is now looking to issue $200 million of Hestia Re Ltd. (Series 2022-1) single-tranche CAT bonds of unknown term to maturity (versus the original $100 million target). It will cover Kin's personal property line portfolio losses from named storms impacting Florida.

State Farm issued $300 million Merna Re II Ltd. (Series 2022-1) single-tranche three-year CAT bonds, probably covering U.S. earthquakes on an indemnity trigger and per-occurrence basis. It was relatively privately marketed and placed with a select group or club of initial investors.

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.

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.

Direct-to-consumer Insurtech Kin Insurance issued $175 million of Hestia Re Ltd. (Series 2022-1) single-tranche three-year CAT bonds (up from the original $100 million target). It will cover Kin's personal property line portfolio losses from named storms impacting Florida.

American Integrity Insurance Company of Florida is looking to issue at least $125 million of Integrity Re Ltd. (Series 2022-1) two-tranche three-year CAT bonds. It will cover named storm events in Florida, on an indemnity and cascading per-occurrence basis.