ART

2152 bookmarks
Custom sorting
TWIA raises Alamo Re 2023-1 cat bond target again, now up to $500m
TWIA raises Alamo Re 2023-1 cat bond target again, now up to $500m
The Texas Windstorm Insurance Association (TWIA) increased its issuance target for its Alamo Re Ltd. (Series 2023-1 & 2023-2) three-year CAT bonds to $500 million. It had already increased the target from $250 million to $450 million, while opting for a single tranche versus the originally planned two. They will cover Texas named storms and severe thunderstorms on an indemnity trigger and annual aggregate basis.
#ART#CAT#ILS#UnitedStates
·artemis.bm·
TWIA raises Alamo Re 2023-1 cat bond target again, now up to $500m
California Earthquake Authority lifts Ursa Re cat bond target to $200m
California Earthquake Authority lifts Ursa Re cat bond target to $200m
The California Earthquake Authority (CEA) increased its issuance target for its Ursa Re Ltd. (Series 2023-1) two-tranche two years seven month CAT bonds from $175 million to $200 million. They will cover California earthquakes on an annual aggregate basis.
#ART#CAT#ILS
·artemis.bm·
California Earthquake Authority lifts Ursa Re cat bond target to $200m
State Farm secures $450m of reinsurance with new Merna Re cat bonds
State Farm secures $450m of reinsurance with new Merna Re cat bonds
State Farm issued $250 million Merna Re II Ltd. (Series 2023-1) and $200 million Merna Re II Ltd. (Series 2023-2) [single-tranche?] three-year CAT bonds. They both cover losses on a per-occurrence and indemnity trigger basis. The Series-1 bond covers US named storm and earthquake on a first-event basis for all states (excluding California and Texas) and on a second-event basis for Florida named storms. The Series-2 bonds cover named storms specifically for the state of Texas.
#ART#CAT#ILS#UnitedStates
·artemis.bm·
State Farm secures $450m of reinsurance with new Merna Re cat bonds
TWIA gets new Alamo Re cat bond 100% upsized at $500m, with 7% price reduction
TWIA gets new Alamo Re cat bond 100% upsized at $500m, with 7% price reduction
The Texas Windstorm Insurance Association (TWIA) issued $500 million Alamo Re Ltd. (Series 2023-1 & 2023-2) three-year CAT bonds, after increasing the target from $250 million to $450 million, while opting for a single tranche versus the originally planned two. They will cover Texas named storms and severe thunderstorms on an indemnity trigger and annual aggregate basis.
#ART#CAT#ILS#UnitedStates
·artemis.bm·
TWIA gets new Alamo Re cat bond 100% upsized at $500m, with 7% price reduction
Zenkyoren lifts Nakama Re 2023 quake cat bond target to $275m
Zenkyoren lifts Nakama Re 2023 quake cat bond target to $275m
Japan-based Zenkyoren increased its issuance target for its Nakama Re Ltd. (Series 2023-1) two-tranche five-year CAT bonds from $200 million to $275 million. They will cover Japanese earthquakes on an indemnity trigger and annual aggregate basis.
#ART#CAT#ILS
·artemis.bm·
Zenkyoren lifts Nakama Re 2023 quake cat bond target to $275m
SageSure carriers' Gateway Re II Ltd. cat bond upsized to $125m
SageSure carriers' Gateway Re II Ltd. cat bond upsized to $125m
US-based SageSure increased its issuance target for its Gateway Re II Ltd. (Series 2023-1) single-tranche three-year CAT bonds from $100 million to $125 million. They will provide protection to SafePort Insurance Company and SafeChoice Insurance Company, against losses from US named storms across the states of Alabama, Louisiana, Mississippi, New York, North Carolina, South Carolina, Texas, and Virginia.
#ART#CAT#ILS
·artemis.bm·
SageSure carriers' Gateway Re II Ltd. cat bond upsized to $125m
NCIUA lifts Cape Lookout Re cat bond target to $350m
NCIUA lifts Cape Lookout Re cat bond target to $350m
The North Carolina Insurance Underwriting Association (NCIUA) increased its issuance target for its Cape Lookout Re Ltd. (Series 2023-1) single-tranche three-year CAT bonds from $200 million to $350 million. They will cover North Carolina named storms and severe thunderstorms on an indemnity and annual aggregate basis.
#ART#CAT#ILS
·artemis.bm·
NCIUA lifts Cape Lookout Re cat bond target to $350m
SafePort and SafeChoice secure $125m Gateway Re II debut cat bond
SafePort and SafeChoice secure $125m Gateway Re II debut cat bond
US-based SageSure increased its issuance target for its Gateway Re II Ltd. (Series 2023-1) single-tranche three-year CAT bonds from $100 million to $125 million. They will provide protection to SafePort Insurance Company and SafeChoice Insurance Company, against losses from US named storms across the states of Alabama, Louisiana, Mississippi, New York, North Carolina, South Carolina, Texas, and Virginia.
#ART#CAT#ILS
·artemis.bm·
SafePort and SafeChoice secure $125m Gateway Re II debut cat bond
Nationwide returns to cat bond market with $150m Aquila Re I issuance
Nationwide returns to cat bond market with $150m Aquila Re I issuance
U.S. primary insurer Nationwide Mutual Insurance Company is looking to issue $150 million or more Aquila Re I Ltd. (Series 2023-1) three-tranche three-year CAT bonds. They will cover multiple U.S. perils, including U.S. named storm, earthquake, severe thunderstorm, winter storm, wildfire, meteorite impact, and volcanic eruption, on an indemnity trigger and per-occurrence basis.
#ART#CAT#ILS#UnitedStates
·artemis.bm·
Nationwide returns to cat bond market with $150m Aquila Re I issuance
Zenkyoren opts for $225m Nakama Re 2023 quake cat bond at reduced pricing
Zenkyoren opts for $225m Nakama Re 2023 quake cat bond at reduced pricing
Japan-based Zenkyoren issued $225 million Nakama Re Ltd. (Series 2023-1) two-tranche five-year CAT bonds from, versus the initial $200 million target that had later been increased to $275 million. They will cover Japanese earthquakes on an indemnity trigger and annual aggregate basis.
#ART#ILS#CAT
·artemis.bm·
Zenkyoren opts for $225m Nakama Re 2023 quake cat bond at reduced pricing
NCIUA gets $350m Cape Lookout Re cat bond priced 12% below guidance
NCIUA gets $350m Cape Lookout Re cat bond priced 12% below guidance
The North Carolina Insurance Underwriting Association (NCIUA) issued $350 million Cape Lookout Re Ltd. (Series 2023-1) single-tranche three-year CAT bonds, versus the original target of $200 million. They will cover North Carolina named storms and severe thunderstorms on an indemnity and annual aggregate basis.
#ART#ILS#CAT
·artemis.bm·
NCIUA gets $350m Cape Lookout Re cat bond priced 12% below guidance
NZ EQC targets debut $250m Totara Re cat bond issued out of Singapore
NZ EQC targets debut $250m Totara Re cat bond issued out of Singapore
New Zealand’s Toka Tū Ake Earthquake Commission (EOC) is looking to issue NZ $250 million ($156 million) Totara Re Pte. Ltd. (Series 2023-1) single-tranche four-year CAT bonds. They will cover New Zealand earthquakes, tsunamis, landslides, volcanic eruptions, hydrothermals, storms, and flood events on an indemnity and per-occurrence basis.
#ART#ILS#CAT
·artemis.bm·
NZ EQC targets debut $250m Totara Re cat bond issued out of Singapore
Alcoa Purchases Group Annuity Contracts for Certain Canadian Pension Plans
Alcoa Purchases Group Annuity Contracts for Certain Canadian Pension Plans
Alcoa Corporation purchased group annuity contracts covering $235 million of pension obligations and assets associated with defined benefit pension plans for certain Canadian retirees and beneficiaries. This is the Alcoa’s sixth pension annuity transaction for a total transfer of approximately $3.6 billion in pension obligations and assets since 2018. The latest group annuity contracts, which required no cash funding from Alcoa, will be executed by Industrial Alliance Insurance and Financial Services Inc. and will cover approximately 500 participants in the Canadian pension plans.
#ART#Pensions#Longevity#Canada
·news.alcoa.com·
Alcoa Purchases Group Annuity Contracts for Certain Canadian Pension Plans
UK Pension scheme buy-ins and buy-outs approached £16bn in H2 2022
UK Pension scheme buy-ins and buy-outs approached £16bn in H2 2022
Total UK pension scheme buy-in and buy-out volumes reached £15.8 billion in the second half of 2022, bringing the full year total to around £27.7 billion, similar to the volume completed in 2021, according to Hymans Robertson. Approximately 80% of the H2 volume was in relation to buy-ins. There were £15.7 billion of longevity swaps done in 2022, the third successive year for longevity swaps to exceed £15 billion.
#ART#Longevity#Pensions#UnitedKingdom
·reinsurancene.ws·
UK Pension scheme buy-ins and buy-outs approached £16bn in H2 2022
Palomar seeks $150m quake cover with Torrey Pines Re 2023-1 cat bond
Palomar seeks $150m quake cover with Torrey Pines Re 2023-1 cat bond
California-based Palomar Insurance is looking to issue at least $150 Torrey Pines Re Ltd. (Series 2023-1) two-tranche three-year CAT bonds. They will cover California specific and US-wide earthquakes on an indemnity and per-occurrence basis.
#ART#ILS#CAT
·artemis.bm·
Palomar seeks $150m quake cover with Torrey Pines Re 2023-1 cat bond
Louisiana Citizens targets $150m Bayou Re catastrophe bond
Louisiana Citizens targets $150m Bayou Re catastrophe bond
Louisiana Citizens Property Insurance Corporation is looking to issue $150 million Bayou Re Ltd. (Series 2023-1) two-tranche three-year CAT bonds. They will cover named storms in its home state on an indemnity and per-occurrence basis.
#ART#ILS#CAT
·artemis.bm·
Louisiana Citizens targets $150m Bayou Re catastrophe bond
Munich Re seeks first cat bond since 2016, $100m Queen Street 2023 Re
Munich Re seeks first cat bond since 2016, $100m Queen Street 2023 Re
Munich Re is looking to issue at least $100 million or more Queen Street 2023 Re dac single-tranche three-year CAT bonds. They will cover US named storms on a per-occurrence basis, structured to use a PCS state-weighted industry-loss trigger.
#ART#ILS#CAT
·artemis.bm·
Munich Re seeks first cat bond since 2016, $100m Queen Street 2023 Re
PPG Industries unloads $309 million in U.S. pension liabilities
PPG Industries unloads $309 million in U.S. pension liabilities
Pittsburgh-based PPG Industries purchased a group annuity contract in March to transfer $309 million in U.S. pension plan liabilities to undisclosed insurance companies. As of Dec. 31, the company’s U.S. pension plan assets totaled $1.028 billion, while projected benefit obligations totaled $1.425 billion, for a funding ratio of 72.1%, according to its most recent 10-K filing.
#ART#Longevity#Pensions
·pensionpolicyinternational.com·
PPG Industries unloads $309 million in U.S. pension liabilities
Spinnaker targets debut catastrophe bond, $100m Mountain Re Ltd.
Spinnaker targets debut catastrophe bond, $100m Mountain Re Ltd.
Spinnaker Insurance Company is looking to issue at least $100 million Mountain Re Ltd. (Series 2023-1) single-tranche three-year CAT bonds. They will cover a range of US perils, US named storms, quakes, severe thunderstorms and winter storms on a per-occurrence and indemnity trigger basis.
#ART#ILS#CAT
·artemis.bm·
Spinnaker targets debut catastrophe bond, $100m Mountain Re Ltd.
USAA secures 100% upsized 40th Residential Re cat bond at $400m
USAA secures 100% upsized 40th Residential Re cat bond at $400m
USAA issued $200 million Residential Reinsurance 2023 Limited (Series 2023-1) two-tranche four-year CAT bonds, versus the original target of $200 million. They will cover U.S. tropical cyclones, earthquakes (plus fire following), severe thunderstorms, winter storms, wildfires, volcanic eruptions, meteorite impacts, and other perils (all including auto & renter policy flood losses) on an indemnity and annual aggregate basis.
#ART#ILS#CAT
·artemis.bm·
USAA secures 100% upsized 40th Residential Re cat bond at $400m
SCOR targets $75m Atlas Capital 2023-1 multi-peril retro cat bond
SCOR targets $75m Atlas Capital 2023-1 multi-peril retro cat bond
France-based SCOR is looking to issue at least $75 million of Atlas Capital DAC (Series 2023-1) single-tranche three-year CAT bonds. They will cover US named storm and earthquake risks, Canadian earthquakes and European windstorm industry-loss events on an annual aggregate and weighted industry loss trigger basis.
#ART#ILS#CAT
·artemis.bm·
SCOR targets $75m Atlas Capital 2023-1 multi-peril retro cat bond
New York MTA seeks MetroCat Re parametric storm surge cat bond renewal
New York MTA seeks MetroCat Re parametric storm surge cat bond renewal
The New York Metropolitan Transportation Authority (MTA) is looking to issue at least $75 million MetroCat Re Ltd. (Series 2023-1) single-tranche three-year CAT bonds. They will cover named New York area storm induced storm surges on a parametric trigger and per-occurrence basis, with the trigger being binary in terms of the nature of its payout.
#ART#ILS#CAT
·artemis.bm·
New York MTA seeks MetroCat Re parametric storm surge cat bond renewal
Allstate returns for $250m Florida focused Sanders Re III cat bond
Allstate returns for $250m Florida focused Sanders Re III cat bond
US insurer Allstate is looking to issue at least $250 million Sanders Re III Ltd. (Series 2023-2) two-tranche CAT bonds. They will cover Florida named storms, earthquakes, severe weather, wildfires, volcanic eruptions, and meteorite impacts on an indemnity, per-occurrence basis. A $250 million coupon-paying Class A tranche will mature in three years, and an un-sized zero-coupon Class B tranche will mature in one year.
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Allstate returns for $250m Florida focused Sanders Re III cat bond
AT&T dials up deal to transfer $8.1 billion in U.S. pension liabilities
AT&T dials up deal to transfer $8.1 billion in U.S. pension liabilities
AT&T purchased group annuity contracts from Athene Annuity & Life Assurance to transfer $8.1 billion in U.S. pension plan liabilities. AT&T is purchasing the contracts with plan assets and will not be required to make any further contributions to the plan. The 96,000 AT&T participants and beneficiaries covered by the annuities represent about 50% of total retirees and beneficiaries.
#ART#Longevity#Pensions
·pionline.com·
AT&T dials up deal to transfer $8.1 billion in U.S. pension liabilities