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Zenkyoren prices $150m Nakama Re 2024-1 cat bond within guidance
Zenkyoren prices $150m Nakama Re 2024-1 cat bond within guidance
Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, will issue $150 million Nakama Re Pte. Ltd. (Series 2024-1) single-tranche five-year catastrophe (CAT) bonds. They will cover losses from losses from shake and related perils of earthquakes, including tsunami’s, fire, flooding and sprinkler leakage, on a three-year aggregate, indemnity triggered basis. [Artemis]
#ART#ILS#CAT
·artemis.bm·
Zenkyoren prices $150m Nakama Re 2024-1 cat bond within guidance
Louisiana Citizens gets its largest cat bond, as $275m Bayou Re deal priced
Louisiana Citizens gets its largest cat bond, as $275m Bayou Re deal priced
Louisiana Citizens Property Insurance Corporation will issue $275 million Bayou Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $225 million target. They will cover losses from named storm losses that hit the state of Louisiana on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Louisiana Citizens gets its largest cat bond, as $275m Bayou Re deal priced
Florida Citizens targets $950m cat bond issuance, potential to become biggest ever
Florida Citizens targets $950m cat bond issuance, potential to become biggest ever
Citizens Property Insurance Corporation is looking to issue at least $950 million Everglades Re II Ltd. dual series three-tranche catastrophe (CAT) bonds, Series 2024-1 running for three years, and Series 2024-2 for two-years. They will cover losses from named storms that hit the state of Florida, on an annual aggregate indemnity trigger basis, . [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Florida Citizens targets $950m cat bond issuance, potential to become biggest ever
Aspen doubles Kendall Re catastrophe bond to secure $300m of retrocession
Aspen doubles Kendall Re catastrophe bond to secure $300m of retrocession
Aspen Insurance Holdings Limited will issue $300 million Kendall Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds, double the original $150 million target. They will cover losses from US named storms, including Puerto Rico, the US Virgin Islands and DC, as well as US and Canada earthquake, plus European windstorms on a weighted (state/county/Cresta) industry loss and annual aggregate basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Aspen doubles Kendall Re catastrophe bond to secure $300m of retrocession
NCJUA returns for first catastrophe bond since 2013, $125m Longleaf Pine Re
NCJUA returns for first catastrophe bond since 2013, $125m Longleaf Pine Re
The North Carolina Joint Underwriting Association (NCJUA) is looking to issue at least $125 million Longleaf Pine Re Ltd. (Series 2024-1) single-tranche catastrophe (CAT) bonds (term to maturity unknown at this point). They will cover losses from North Carolina named storm losses on an indemnity trigger and annual aggregate basis, with covered events needing to result in an ultimate net loss of at least $25 million to qualify for aggregation. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
NCJUA returns for first catastrophe bond since 2013, $125m Longleaf Pine Re
USAA prices, secures $125m agg reinsurance from new Residential Re cat bond
USAA prices, secures $125m agg reinsurance from new Residential Re cat bond
USAA will issue $125 million Residential Reinsurance 2024 Limited (Series 2024-1) two-tranche catastrophe (CAT) bonds, versus the originally targeted $175 million three-tranche bond. One of the originally planned tranches, a zero-coupon one-year note, was dropped. The remaining and two tranches will provide four years of coverage of losses from U.S. tropical cyclones, earthquakes (plus fire following), severe thunderstorm, winter storm, wildfire, volcanic eruption, meteorite impact, other perils (all including auto & renter policy flood losses) on an annual aggregate and indemnity basis. [Source: Artemis.bm]
#ART#CAT#ILS
·artemis.bm·
USAA prices, secures $125m agg reinsurance from new Residential Re cat bond
Nephila seeks $100m Atela Re catastrophe bond for Lloyd's syndicate 2357
Nephila seeks $100m Atela Re catastrophe bond for Lloyd's syndicate 2357
Nephila Capital is looking to issue at least $100 million Atela Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They will cover losses from major industry losses from US named storms and US earthquakes on an annual aggregate and industry loss index basis. [Source: Artemis.bm]
#ART#CAT#ILS#UnitedStates
·artemis.bm·
Nephila seeks $100m Atela Re catastrophe bond for Lloyd's syndicate 2357
Nationwide Mutual secures 50% upsized $225m Aquila Re I cat bond
Nationwide Mutual secures 50% upsized $225m Aquila Re I cat bond
U.S. primary insurer Nationwide Mutual Insurance Company will issue $225 million Aquila Re I Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds, versus the original $150 million target. They will cover losses from the perils of US named storm, earthquake, severe thunderstorm, winter storm, wildfire, meteorite impact, volcanic eruption on an indemnity triggered and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Nationwide Mutual secures 50% upsized $225m Aquila Re I cat bond
Palomar seeks $400m California quake reinsurance with new Torrey Pines cat bond
Palomar seeks $400m California quake reinsurance with new Torrey Pines cat bond
Palomar Insurance Holdings is looking to issue at least $400million Torrey Pines Re Ltd. (Series 2024-1) three-tranche three-year catastrophe (CAT) bonds. They will cover California earthquake losses on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Palomar seeks $400m California quake reinsurance with new Torrey Pines cat bond
Nephila secures $90m of industry-loss retro for Lloyd's syndicate with Atela Re cat bond
Nephila secures $90m of industry-loss retro for Lloyd's syndicate with Atela Re cat bond
Nephila Capital is looking will issue $90 million Atela Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds, versus the initial $100 million target. They will cover losses from major industry losses from US named storms and US earthquakes on an annual aggregate and industry loss index basis. [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Nephila secures $90m of industry-loss retro for Lloyd's syndicate with Atela Re cat bond
Mexico cat bond cover hits $595m, as upsized $175m Pacific named storm tranche secured
Mexico cat bond cover hits $595m, as upsized $175m Pacific named storm tranche secured
The Mexican government upsized the original $125 million four-year tranche it added to its recently issued $420 million World Bank facilitated IBRD CAR Mexico 2024 three-tranche four-year catastrophe (CAT) bond, to $175 million. The new notes cover losses from Pacific named storms on a parametric basis, whereas the earlier deal covered earthquakes and Atlantic hurricanes. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Mexico cat bond cover hits $595m, as upsized $175m Pacific named storm tranche secured
Ariel Re returns to sponsor fourth Titania Re catastrophe bond
Ariel Re returns to sponsor fourth Titania Re catastrophe bond
Ariel Re is looking to issue at least $100 million Titania Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They will cover certain losses from U.S. 50 state, Puerto Rico, U.S. Virgin Islands, D.C. and Canada named storms and earthquakes, on an annual aggregate basis. [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Ariel Re returns to sponsor fourth Titania Re catastrophe bond
NCJUA upsizes Longleaf Pine Re cat bond to $145m
NCJUA upsizes Longleaf Pine Re cat bond to $145m
The North Carolina Joint Underwriting Association (NCJUA) will issue $145 million Longleaf Pine Re Ltd. (Series 2024-1) single-tranche catastrophe (CAT) bonds (term to maturity unknown but probably three years), versus the original $125 million target. They will cover losses from North Carolina named storm losses on an indemnity trigger and annual aggregate basis, with covered events needing to result in an ultimate net loss of at least $25 million to qualify for aggregation. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
NCJUA upsizes Longleaf Pine Re cat bond to $145m
SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond
SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond
France-based SCOR is looking to issue at least $125 million Atlas Capital DAC (Series 2024-1 single-tranche three-year catastrophe (CAT) bonds. They will cover losses from US named storms on an annual aggregate and state-weighted industry loss trigger basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond
Florida Citizens secures $1.1bn of reinsurance with new Everglades Re cat bond
Florida Citizens secures $1.1bn of reinsurance with new Everglades Re cat bond
Florida Citizens Property Insurance Corporation will issue $1,100 million Everglades Re II Ltd. two-tranche three-year catastrophe (CAT) bonds, versus the original $950 million target. They will cover losses from named storms that hit the state of Florida, on an annual aggregate indemnity trigger basis, . [Source: Artemis.bm]
#ART#ILS#CAT#_____________#UnitedStates
·artemis.bm·
Florida Citizens secures $1.1bn of reinsurance with new Everglades Re cat bond
SafePoint seeks $75m Nature Coast Re 2024 cat bond
SafePoint seeks $75m Nature Coast Re 2024 cat bond
SafePoint Insurance Company is looking to issue at least $75 million Nature Coast Re Ltd. (Series 2024-1) single-tranche three-year catastrophe (CAT) bonds. They will cover losses affecting the states of Florida, Louisiana, Alabama, Mississippi, and Texas on a per-occurrence basis using an indemnity trigger. [Source: Artemis.bm]
#ART#ILS#CAT#UnitedStates
·artemis.bm·
SafePoint seeks $75m Nature Coast Re 2024 cat bond
Beazley sponsors further $160m cyber cat bond via PoleStar Re
Beazley sponsors further $160m cyber cat bond via PoleStar Re
UK-based Beazley issued $160 million PoleStar Re Ltd. (Series 2024-2) single-tranche two-year catastrophe (CAT) bonds. 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. [Source: Artemis.bm]
#ART#ILS#CAT#CyberRisk
·artemis.bm·
Beazley sponsors further $160m cyber cat bond via PoleStar Re
SURE & Elevate target third cat bond of year, up to $100m Gateway Re 2024-3
SURE & Elevate target third cat bond of year, up to $100m Gateway Re 2024-3
The SureChoice and Elevate reciprocal exchanges are looking to issue at least $100 million Gateway Re Ltd. (Series 2024-3) single-tranche 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. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
SURE & Elevate target third cat bond of year, up to $100m Gateway Re 2024-3
Palomar gets $420m of quake reinsurance with biggest Torrey Pines cat bond yet
Palomar gets $420m of quake reinsurance with biggest Torrey Pines cat bond yet
Palomar Insurance Holdings will issue $420 million Torrey Pines Re Ltd. (Series 2024-1) three-tranche three-year catastrophe (CAT) bonds, versus the original $400 million target. They will cover California earthquake losses on an indemnity and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Palomar gets $420m of quake reinsurance with biggest Torrey Pines cat bond yet
Cat bonds break half-year issuance record at $10.9bn already for H1 2024
Cat bonds break half-year issuance record at $10.9bn already for H1 2024
According to the Artemis.bm deal directory, issuance of new catastrophe (CAT) bonds and related insurance-linked securities (ILS) has already reached $10.9 billion in 2024 and has now broken the record for the first-half, while the amount of CAT bond and related ILS risk capital outstanding has reached $48.7 billion, another new high.
#ART#ILS#CAT#UnitedStates
·artemis.bm·
Cat bonds break half-year issuance record at $10.9bn already for H1 2024
IMF calls for caution on U.K. pension reforms
IMF calls for caution on U.K. pension reforms
The International Monetary Fund (IMF) has singled out the government’s Mansion House reforms for pension schemes in U.K. Article IV consultation. "Reforms to unlock pension savings for higher-return investments should not undermine financial stability or pensioner outcomes. There is a clear economic rationale for consolidating small pension funds, and potential benefits from encouraging the sector to invest more in higher-growth assets. However, realizing these outcomes will take time and persistent efforts. For instance, appropriate investment vehicles will need to be set up to facilitate the scaling up of such investments. These vehicles will need to be robustly designed, managed, and supervised. Caution is warranted around possible financial stability implications of the reforms, particularly given the context of ongoing defined benefit (DB) pension fund buy-outs and potential concentration risk created in the insurance industry from these concurrent changes. It will also be important to monitor the longer-term structural impact of these developments on gilt demand. Finally, staff encourages continued work to ensure adequate pensions for UK employees, including the consideration of expanding auto-enrollment efforts and raising the minimum pension contribution." [Source: IMF]
#ART#Longevity#Pensions#IMF#UnitedKingdom
·imf.org·
IMF calls for caution on U.K. pension reforms
ICI Pension Fund agrees to $1.1 billion buy-in with Legal & General
ICI Pension Fund agrees to $1.1 billion buy-in with Legal & General
U.K.-based ICI Pension Fund, sponsored by Netherlands-based AkzoNobel, agreed a £900 million buy-in with Legal & General. The ICI Pension Fund is has about £10 billion in assets, and around 56,000 plan participants. Going back to 2014, Legal & General has now completed 12 transactions totaling £7 billion with the fund, which covers around 70% of total liabilities. [Source: Pensions and Investments]
#ART#Longevity#Pensions#UnitedKingdom
·pionline.com·
ICI Pension Fund agrees to $1.1 billion buy-in with Legal & General
Metallus Inc. completes termination of salaried pension plan through buyout with Prudential
Metallus Inc. completes termination of salaried pension plan through buyout with Prudential
U.S.-based Metallus purchased a group annuity contract from Prudential Insurance Co. of America to transfer the remaining $121 million in its U.S. pension plan for salaried employees and complete its termination. As of end December 2023, the pension plan had $130 million in assets. [Source: Pensions and Investments]
#ART#Longevity#Pensions#UnitedStates
·pionline.com·
Metallus Inc. completes termination of salaried pension plan through buyout with Prudential
Achmea returns to renew catastrophe bond with €75m Windmill III Re
Achmea returns to renew catastrophe bond with €75m Windmill III Re
Dutch-headquartered Achmea is looking to issue at least €75 million Windmill III Re DAC (2024-1) single-tranche four-year catastrophe (CAT) bonds. They will cover losses from certain European windstorms on an indemnity trigger and per-occurrence basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Achmea returns to renew catastrophe bond with €75m Windmill III Re
Ariel Re pulls Titania cat bond issuance due to market pricing
Ariel Re pulls Titania cat bond issuance due to market pricing
Ariel Re has apparently opted to pull its latest catastrophe bond issuance as a response to the higher cat bond market pricing environment. Ariel Re was looking to issue at least $100 million Titania Re Ltd. (Series 2024-1) two-tranche three-year catastrophe (CAT) bonds. They were to cover certain losses from U.S. 50 state, Puerto Rico, U.S. Virgin Islands, D.C. and Canada named storms and earthquakes, on an annual aggregate basis. [Source: Artemis.bm]
#ART#ILS#CAT
·artemis.bm·
Ariel Re pulls Titania cat bond issuance due to market pricing