ART

2164 bookmarks
Custom sorting
Liberty Mutual prices $300m Mystic Re IV cat bond below initial guidance
Liberty Mutual prices $300m Mystic Re IV cat bond below initial guidance
Liberty Mutual issued $300 million Mystic Re IV Ltd. (Series 2024-1) single-tranche three-year catastrophe bonds, versus the original $250 million target. They will cover losses from named storms and earthquakes affecting the United States, Puerto Rico and Virgin Islands, and earthquakes only in Canada, on a per-occurrence and weighted industry loss trigger basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Liberty Mutual prices $300m Mystic Re IV cat bond below initial guidance
Hamilton prices $200m Easton Re cat bond 11% below guidance mid-point
Hamilton prices $200m Easton Re cat bond 11% below guidance mid-point
Bermuda-based Hamilton issued $200 million Easton Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds, upsized from the original $150 million target. They will cover losses from U.S., DC, Puerto Rico, and Virgin Islands named storms, as well as U.S. and Canada earthquakes, on an industry loss trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Hamilton prices $200m Easton Re cat bond 11% below guidance mid-point
Hiscox sponsoring first cat bond in over two decades, Ocelot Re Ltd.
Hiscox sponsoring first cat bond in over two decades, Ocelot Re Ltd.
Hiscox Group is looking to issue at least $100 million Ocelot Re Ltd. (Series 2023-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from US and Canadian named storm and earthquakes on an annual aggregate and weighted PCS industry-loss trigger basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Hiscox sponsoring first cat bond in over two decades, Ocelot Re Ltd.
Beazley secures $140m of reinsurance with PoleStar Re cyber cat bond
Beazley secures $140m of reinsurance with PoleStar Re cyber cat bond
UK-based Beazley issued $140 million PoleStar Re Ltd. (Series 2024-1) single-tranche two-year catastrophe (CAT) bonds, upsized from the original $75 million target. The bonds will cover major cyber loss events that impact its underwriting entities, including the syndicates at Lloyd’s and its US insurers, on an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT#CyberRisk
·artemis.bm·
Beazley secures $140m of reinsurance with PoleStar Re cyber cat bond
Beazley prices first London Bridge cat bond, $100m Fuchsia 2023-1, at top-end
Beazley prices first London Bridge cat bond, $100m Fuchsia 2023-1, at top-end
UK-based Beazley issued $100 million Fuchsia 2023-1 Rule 144A single-tranche three-year catastrophe bonds using the Lloyd’s owned London Bridge 2 PCC Limited insurance-linked securities (ILS) platform. They will cover losses from named storm and earthquake events affecting the United States, Canada and certain parts of the Caribbean on an indemnity and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Beazley prices first London Bridge cat bond, $100m Fuchsia 2023-1, at top-end
Inigo returns with $100m target for third Montoya Re aggregate cat bond
Inigo returns with $100m target for third Montoya Re aggregate cat bond
U.K.-based Inigo is looking to issue at least $100 million Montoya Re Ltd. (Series 2024-1) single-tranche three+-year catastrophe (CAT) bonds. They will cover losses from U.S. named storms, and North American earthquakes on an annual aggregate basis, featuring a PCS industry loss index trigger. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Inigo returns with $100m target for third Montoya Re aggregate cat bond
Texas Farm Bureau aims to upsize debut Fish Pond Re cat bond to $255m
Texas Farm Bureau aims to upsize debut Fish Pond Re cat bond to $255m
U.S.-based Texas Farm Bureau Insurance Companies is looking to issue at least $255 million Fish Pond Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds, versus the original target of $200 million. They will cover losses from named storm reinsurance protection in Texas, on an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Texas Farm Bureau aims to upsize debut Fish Pond Re cat bond to $255m
Progressive’s ARX prices Bonanza Re cat bond with 40% upsize to $70m
Progressive’s ARX prices Bonanza Re cat bond with 40% upsize to $70m
U.S.-based ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, issued $70 million Bonanza Re Ltd. (Series 2023-2) single-tranche one-year catastrophe (CAT) bonds, versus the original $50 million target. They will cover losses from U.S. named storms, earthquakes, severe thunderstorms, winter storm, and wildfires, on an indemnity and annual aggregate basis. [Artemis]
#ART#CAT#ILS
·artemis.bm·
Progressive’s ARX prices Bonanza Re cat bond with 40% upsize to $70m
Munich Re's Eden Re II sidecar issues $28.5m in first tranche for 2024
Munich Re's Eden Re II sidecar issues $28.5m in first tranche for 2024
Munich Re's Eden Re II Ltd. collateralized reinsurance sidecar privately placed $28.5 million of Series 2024-1 Class A four-year participating notes. These sidecars enable Munich Re to share its underwriting returns (and losses) with investors.
#ART#ILS#CAT
·artemis.bm·
Munich Re's Eden Re II sidecar issues $28.5m in first tranche for 2024
NN Group taps Prudential & Swiss Re for €13bn longevity risk transfer
NN Group taps Prudential & Swiss Re for €13bn longevity risk transfer
Netherlands-based NN Group transferred €13 billion in longevity risk associated with pension liabilities in the Netherlands to an insurance subsidiary of U.S.-based Prudential Financial and Swiss Re. The transactions cover the longevity risk of approximately 300,000 policies. Prudential will cover more than 200,000 of them via a $9.2 billion (€8.4 billion) longevity risk transfer agreement. [Artemis]
#ART#Longevity#Pensions
·artemis.bm·
NN Group taps Prudential & Swiss Re for €13bn longevity risk transfer
The Hartford gets $200m Foundation Re IV cat bond priced below mid-point
The Hartford gets $200m Foundation Re IV cat bond priced below mid-point
U.S.-based The Hartford issued $200 million Foundation Re IV Ltd. (Series 2023-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from U.S. named storms and earthquakes on a an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
The Hartford gets $200m Foundation Re IV cat bond priced below mid-point
Allstate seeks $200m US multi-peril cover with Sanders Re 2024-1 cat bond
Allstate seeks $200m US multi-peril cover with Sanders Re 2024-1 cat bond
U.S.-based Allstate is looking to issue $200 million Sanders Re III Ltd. (Series 2024-1) single-tranche four-year catastrophe (CAT) bonds. They will cover personal lines property and auto losses from named storm, earthquake, severe weather, wildfire, volcanic eruption, or meteorite impact events, across all US states excluding Florida, on a per-occurrence and indemnity trigger basis. [Artemis]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Allstate seeks $200m US multi-peril cover with Sanders Re 2024-1 cat bond
Texas Farm Bureau gets debut Fish Pond Re cat bond at upsized $255m
Texas Farm Bureau gets debut Fish Pond Re cat bond at upsized $255m
Texas Farm Bureau Insurance issued $255 million Fish Pond Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds, versus the original target of $200 million. They will cover losses from named storms in the state of Texas on an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Texas Farm Bureau gets debut Fish Pond Re cat bond at upsized $255m
Chubb secures East Lane Re VII cyber cat bond at upsized $150m
Chubb secures East Lane Re VII cyber cat bond at upsized $150m
Chubb issued $150 million East Lane Re VII Ltd. (Series 2024-1) single-tranche two-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover widespread cyber loss events, on an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Chubb secures East Lane Re VII cyber cat bond at upsized $150m
Private Equity and Life Insurers
Private Equity and Life Insurers
This IMF Global Financial Stability Note studies the growing trend of private equity (PE) investments into the life insurance industry. PE companies' investments in life insurers are integral to their strategic growth as PE firms evolve beyond the traditional leveraged buyout transaction to acquire diverse businesses across private credit, structured credit, private real estate funds, and private infrastructure funds. This note reviews the growth in PE investments through the lens of the diverse acquisition incentives and strategies, the consequent changes to asset allocation and investment strategies of the acquired life businesses, and potential prudential and policy implications.
#ART#ILS#CAT#Longevity#Pensions#Regulation#PrivateEquity
·imf.org·
Private Equity and Life Insurers
Ark sidecar Outrigger Re renewed for 2024 with increased third-party capital
Ark sidecar Outrigger Re renewed for 2024 with increased third-party capital
Ark Insurance, a subsidiary of White Mountains Insurance, sponsored a renewal of its $250 million Outrigger Re Ltd. collateralized reinsurance sidecar, which will assume 2024 global property catastrophe excess-of-loss reinsurance business from Ark. $120 million of its capital is coming from third-party investors, versus $45 million in 2023, with White Mountains contributing the rest. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Ark sidecar Outrigger Re renewed for 2024 with increased third-party capital
PIC agrees to buy-in for Westminster Abbey pension scheme
PIC agrees to buy-in for Westminster Abbey pension scheme
U.K.-based Pension Insurance Corp. has concluded a £25 million full buy-in of the Westminster Abbey pension scheme. The buy-in insures the pension liabilities for 125 pensioners and 107 deferred members who were employees of Westminster Abbey. Westminster Abbey itself is based in the center of London. The current building was built in 1245 and houses the tombs of various English monarchs, and has been a UNESCO World Heritage site since 1987. [Pensions & Investments]
#ART#Longevity#Pensions#UnitedKingdom
·pionline.com·
PIC agrees to buy-in for Westminster Abbey pension scheme
PRT sales dip in Q3 year over year, LIMRA survey shows
PRT sales dip in Q3 year over year, LIMRA survey shows
According to the Life Office Management Association (LIMRA) U.S. pension risk transfer sales totaled $10.4 billion in the third quarter of 2023, down from the record-setting $26.1 billion third quarter of 2022. However, 2022's third quarter record volume was due to a single transaction - IBM's $16 billion group annuity purchase from Prudential Insurance and Metropolitan Life Insurance. Year to date as of end-September 30, there was a total of $28.9 billion in buyout volume versus $48.3 billion in 2022. https://www.limra.com/en/newsroom/news-releases/2023/limra-record-high-number-of-pension-risk-transfer-contracts-sold-in-third-quarter-2023/ [Pensions & Investments]
#ART#Longevity#Pensions#UnitedStates
·pionline.com·
PRT sales dip in Q3 year over year, LIMRA survey shows
Hiscox gets first cat bond in 21 years at upsized $125m, priced 10% below mid-point
Hiscox gets first cat bond in 21 years at upsized $125m, priced 10% below mid-point
Hiscox Group issued $125 million Ocelot Re Ltd. (Series 2023-1) single-tranche three-year catastrophe (CAT) bonds, versus the original $100 million target. They will cover losses from US and Canadian named storm and earthquakes on an annual aggregate and weighted PCS industry-loss trigger basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Hiscox gets first cat bond in 21 years at upsized $125m, priced 10% below mid-point
European Central Bank calls for greater use of catastrophe bonds
European Central Bank calls for greater use of catastrophe bonds

The European Central Bank (ECB) and European Systemic Risk Board (ESRB) called for greater use of catastrophe (CAT) bonds to address the insurance protection gap and mitigate CAT risks from climate change in the European Union. Private insurance and reinsurance are seen as “the first line of defence to cover losses from climate-related natural disasters.” But, by adopting a laddered approach to risk transfer, more support from the financial markets can be introduced as well. [Artemis] https://www.esrb.europa.eu/pub/pdf/reports/esrb.report202312~d7881028b8.en.pdf

#ART#ILS#CAT#Europe
·artemis.bm·
European Central Bank calls for greater use of catastrophe bonds
ILS capital outpaced AM Best / Guy Carpenter forecast to hit $100bn in 2023
ILS capital outpaced AM Best / Guy Carpenter forecast to hit $100bn in 2023
According to AM Best and Guy Carpenter, outstanding global third-party reinsurance capital (e.g., insurance-linked securities) ended 2023 at $100 billion (versus $96 billion at the end of 2022), versus $461 billion (versus $411 billion) traditional capital. “Dedicated reinsurance capital... bounced back in 2023, aided by strong underwriting and investment earnings and the unwinding of the significant mark-to-market investment losses that hit the sector hard in 2022.” [Artemis]
#ART#ILS#CAT
·artemis.bm·
ILS capital outpaced AM Best / Guy Carpenter forecast to hit $100bn in 2023
Inigo secures $100m Montoya Re cat bond priced 9% below guidance
Inigo secures $100m Montoya Re cat bond priced 9% below guidance
U.K.-based Inigo issued $100 million Montoya Re Ltd. (Series 2024-1) single-tranche three+-year catastrophe (CAT) bonds. They will cover losses from U.S. named storms, and North American earthquakes on an annual aggregate basis, featuring a PCS industry loss index trigger. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Inigo secures $100m Montoya Re cat bond priced 9% below guidance
Aetna seeks $200m Vitality Re XV health ILS, at lower price than a year ago
Aetna seeks $200m Vitality Re XV health ILS, at lower price than a year ago
Aetna is looking to issue $200 million Vitality Re XV Ltd (Series 2024) two-tranche four-year health insurance catastrophe (CAT) bonds. They will cover losses from tail medical claims events on an indemnity trigger basis. The first Vitality Re deal was sponsored by Aetna back in 2010 and the health and medical insurer has returned every year since then, with this Vitality Re XV Ltd. deal now its fifteenth. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Aetna seeks $200m Vitality Re XV health ILS, at lower price than a year ago
Munich Re lifts Eden Re reinsurance sidecar to $150m for 2024
Munich Re lifts Eden Re reinsurance sidecar to $150m for 2024
Munich Re's Eden Re II Ltd. collateralized reinsurance sidecar privately placed $121.5 million of Series 2024-1 Class B four-year participating notes. This is the second of two tranches placed, the first being $28.5 million of Series 2024-1 Class A four-year participating notes reported earlier. These sidecars enable Munich Re to share its underwriting returns (and losses) with investors. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Munich Re lifts Eden Re reinsurance sidecar to $150m for 2024
GeoVera seeks $100m quake cover with second Veraison Re catastrophe bond
GeoVera seeks $100m quake cover with second Veraison Re catastrophe bond
GeoVera Insurance is looking to issue at least $100 million Veraison Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from US earthquakes on an indemnity trigger and per-occurrence basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
GeoVera seeks $100m quake cover with second Veraison Re catastrophe bond
Guilbert UK Retirement Benefits Plan and Aviva sign £140m buy-in deal
Guilbert UK Retirement Benefits Plan and Aviva sign £140m buy-in deal
The Guilbert UK Retirement Benefits Plan has completed a £140m full scheme buy-in with Aviva, securing the benefits of all members. The bulk purchase annuity (BPA) transaction was completed in August and has insured the liabilities of 1,500 members of the scheme - which is sponsored by Office Depot UK Pension Sponsor. [Professional Pensions]
#Longevity#Pensions#ART
·professionalpensions.com·
Guilbert UK Retirement Benefits Plan and Aviva sign £140m buy-in deal