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SageSure is looking to issue up to $200 million Gateway Re Ltd. (Series 2024-1) two-tranche one- and three-year catastrophe (CAT) bonds. They will cover losses from named storms affecting the US states of Alabama, North and South Carolina, Louisiana, Mississippi, and Texas, on an indemnity trigger and per-occurrence basis. [Artemis]

Ford of Canada is transferring the longevity risk for $923 million in pension plan liabilities through a group annuity buyout. RBC Insurance, Sun Life Assurance Co. of Canada and Desjardins Group will assume responsibility for making pension payments to 2,700 of the plan’s members, who retired on or prior to June 1, 2021. [Benefits Canada]

The North Carolina Insurance Underwriting Association (NCIUA) is looking to issue at least $250 million Cape Lookout Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named North Carolina storms on an indemnity and annual aggregate basis. [Artemis]

Bermuda headquartered Arch Capital Group issued $100 million Ramble Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from significant US Northeast named storms, and US and Canadian earthquakes, on a weighted industry loss trigger per-occurrence basis. [Artemis]

U.S.-based Heritage Insurance is looking to issue at least $100 million Citrus Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They will initially cover losses from named storms and hurricanes in the US states of Alabama, Florida, Georgia, Mississippi, North Carolina and South Carolina on an indemnity trigger and per-occurrence basis. The coverage area can be expanded to also include Maryland and Virginia at a future update. [Artemis]

The U.S. Federal Emergency Management Agency (FEMA) issued $575 million FloodSmart Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They will provide the National Flood Insurance Program (NFIP) with flood reinsurance protection on an indemnity and per-occurrence basis. [Artemis]

Tokio Marine Group’s insurance specialist PURE is looking to issue at least $100 million Ashera Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms and earthquakes affecting the US and Canada on an indemnity trigger and per-occurrence basis. [Artemis]

Italian primary insurance company UnipolSai Assicurazioni is looking to issue at least €100 million Azzurro Re II DAC (Series 2024-1) single-tranche four-year catastrophe (CAT) bonds. They will cover losses related to earthquakes impacting Italy and neighbouring countries on an indemnity trigger and per-occurrence basis. [Artemis]

American Integrity Insurance Company issued $305 million Integrity Re Ltd. (Series 2024-1) four-tranche two-year catastrophe (CAT) bonds, versus the original $150 million target. They will cover losses relating to named storms across the states of Florida, Georgia and South Carolina. [Artemis]

MS&AD Insurance Group is looking to issue at least $175 million Tomoni Re Pte Ltd. (Series 2024-1) two-tranche four-year catastrophe (CAT) bonds. They will cover losses from Japanese typhoons and floods on an indemnity basis, but on a mixture of per-occurrence and aggregate bases. [Artemis]

Verizon Communications transferred about $5.9 billion of pension liabilities to Prudential Financial and Reinsurance Group of America. The transaction covers 56,000 Verizon retirees and their beneficiaries who commenced their benefits before January 1, 2023. Prudential and RGA will each irrevocably guarantee and assume 50% of the benefit obligation to the retirees, except in certain jurisdictions where Prudential will irrevocably guarantee and assume 100% of the benefit obligation. In 2012, Prudential completed an approximately $7.5 billion transfer that covered approximately 41,000 of Verizon’s retirees. [Prudential]

U.S.-based Allied Trust Insurance is looking to issue $100 million Sabine Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms in the states of Texas, North Carolina, South Carolina and Louisiana on an indemnity trigger and per-occurrence basis. [Artemis]

Slide Insurance is looking to issue $150 million Purple Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms that affect Florida and South Carolina on an indemnity and per-occurrence basis. [Artemis]

Canada-based Brookfield Corporation is looking to issue $100 million Aragonite Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from North American earthquakes and named storms on an indemnity and per-occurence basis. [Artemis]

SageSure issued $250 million Gateway Re Ltd. (Series 2024-1) two-tranche one-year ($150 million) and three-year ($100 million) catastrophe (CAT) bonds, versus the original target of $200 million. They will cover losses from named storms affecting the US states of Alabama, North and South Carolina, Louisiana, Mississippi, and Texas, on an indemnity trigger and per-occurrence basis. [Artemis]

Tokio Marine & Nichido Fire Insurance is looking to issue at least $100million Kizuna Re III Pte. Ltd. (Series 2024-1) single-tranche five-year catastrophe (CAT) bonds. They will cover losses from Japanese earthquakes on a three-year rolling aggregate and indemnity trigger basis. [Artemis]

The Government of Mexico is looking to issue, in partnership with the World Bank (IBRD), at least $360 million IBRD CAR Mexico 2024 three-tranche four-year catastrophe (CAT) bonds. They will cover losses from earthquakes and Atlantic hurricanes that impact Mexico on a parametric trigger per-occurrence basis. The size of payout will be dependent on an earthquake's magnitude or the depth of central pressure of a hurricane. [Artemis]

American European Insurance is looking to issue $100 million Charles River Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storms that affect the states of Massachusetts, New Jersey, New York and South Carolina, on a per-occurrence and indemnity trigger basis. [Artemis]

U.K.-based insurance and investment group Royal London purchased two bulk annuities worth approximately £650m to cover its own defined benefit (DB) pension scheme obligations in January 2024. Royal London has insured all benefits for the £254 million Royal Liver Assurance Limited Superannuation Fund, and approximately 20% of the £2 billion Royal London Group Pension Scheme. [Pensions Expert]

The North Carolina Insurance Underwriting Association (NCIUA) issued $450 million Cape Lookout Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds, versus the original $250 million target. They will cover losses from named North Carolina storms on an indemnity and annual aggregate basis. [Artemis]

Florida Peninsula Insurance is looking to issue at least $100 million Palm Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from named storm losses in the state of Florida, on a per-occurrence and indemnity trigger basis. [Artemis]

American Coastal Insurance is looking to issue at least $150 million Armor Re II Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses from Florida named storms on an indemnity and per-occurrence basis. [Artemis]

The Texas Windstorm Insurance Association (TWIA) is looking to issue at least $600 million Alamo Re Ltd. (Series 2024-1) three-tranche catastrophe (CAT) bonds. Two of the tranches (Classes A and B) will run for three years, and the Class C tranche only two years. All three will cover losses from Texas named storms on an indemnity trigger and annual basis. [Artemis]

SageSure is looking to issue up to $130 million Gateway Re Ltd. (Series 2024-2) single-tranche nine-month catastrophe (CAT) bonds. They will cover losses named storms affecting Alabama, Florida, North and South Carolina, Louisiana, Mississippi, and Texas, on an indemnity, per-occurrence basis, for second and subsequent event losses. [Artemis]

Tokio Marine & Nichido Fire Insurance issued $100million Kizuna Re III Pte. Ltd. (Series 2024-1) single-tranche five-year catastrophe (CAT) bonds. They will cover losses from Japanese earthquakes on a three-year rolling aggregate and indemnity trigger basis. [Artemis]

Legal & General Retirement America (LGRA) and Reinsurance Group of America (RGA) have partnered to complete a $700 million pension risk transfer (PRT) transaction with US-based FirstEnergy. The transaction will secure the retirement benefits of approximately 2,000 retirees from the investor-owned electric utilities company. [Reinsurance News]

Pension insurance specialist Rothesay has agreed to buy the about 6 billion pound (Lloyds Banking Group subsidiary) Scottish Widows in-force bulk annuity portfolio from Lloyds. The deal covers the pension benefits of about 42,000 people and marks Rothesay's sixth acquisition of annuities. [Reuters]

Italian primary insurance company UnipolSai Assicurazioni issued €100 million Azzurro Re II DAC (Series 2024-1) single-tranche four-year catastrophe (CAT) bonds. They will cover losses related to earthquakes impacting Italy and neighbouring countries on an indemnity trigger and per-occurrence basis. [Artemis]

Tokio Marine Group’s insurance specialist PURE issued $100 million Ashera Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds, versus the intitial target of $100 million. They will cover losses from named storms and earthquakes affecting the US and Canada on an indemnity trigger and per-occurrence basis. [Artemis]

U.S.-based Heritage Insurance issued $100 million Citrus Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They will initially cover losses from named storms and hurricanes in the US states of Alabama, Florida, Georgia, Mississippi, North Carolina and South Carolina on an indemnity trigger and per-occurrence basis. The coverage area can be expanded to also include Maryland and Virginia at a future update. [Artemis]