Investments

USAA has returned to the catastrophe bond market for its first issuance of 2020, with a currently $100 million plus sized Residential Reinsurance 2020 Limited (Series 2020-1) transaction seeking multi-peril reinsurance protection, that will become the insurers 35th cat bond issuance if successfully completed. USAA is the most prolific and consistent of catastrophe bond sponsors…

Rating agency A.M. Best said that varying pandemic related impacts are to be expected for the insurance-linked securities (ILS) market, with the most concerning likely the fact that collateral could be trapped for years given the significant uncertainty over potential losses. There have already been a range of impacts seen in the ILS and catastrophe…

The targeted issuance size for the latest catastrophe bond to be sponsored by the California Earthquake Authority (CEA) has risen again, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now aiming for as much as $740 million of reinsurance protection for the sponsor. California’s not-for-profit residential earthquake insurer, the California Earthquake Authority (CEA),…

The insurance-linked securities (ILS) and collateralised reinsurance market is still hunting for the right-balance between serving insurance and reinsurance cedents with the protection they need, while dealing with finite term securities, according to Paul Schultz, the CEO of Aon Securities. Speaking with us in a recent Artemis Live video interview, Schultz explained that this balance…

California’s not-for-profit residential earthquake insurer the California Earthquake Authority (CEA) is hoping to significantly upsize its latest catastrophe bond issuance, with the Sutter Re Ltd. (Series 20201- & 2020-2) issuance now targeting up to $700 million of reinsurance protection. The California Earthquake Authority (CEA) returned to the catastrophe bond market about a fortnight ago for…

Broker Willis Re has called on its clients and their counterparties to “accelerate the reinsurance calendar” as a response to the Covid-19 pandemic and to avoid any undue delays. Willis Re has been relatively vocal over issues faced by brokers in servicing their clients since the global lockdown due to the Covid-19 coronavirus pandemic began,…

The insurance and reinsurance market faces multi-billion dollar losses after April’s severe convective storms and weather in the United States that drove hail, tornadoes and straight-line wind damage across a wide swathe of the country, Aon said. April’s toll follows at least $2.4 billion of economic losses, which could have driven anywhere from $1.5 billion…

Hudson Structured Capital Management Ltd. (doing its insurance investment business as HSCM Bermuda), the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, was a lead backer of insurance giant AIG’s recent launch of a new Lloyd’s syndicate. As we explained earlier this week, American International Group, Inc. (AIG) officially launched Lloyd’s Syndicate 2019, which…