Investments

Pacific Gas and Electricity (PG&E), the wildfire stricken California focused electrical utility operator, has been approved to secure $23 billion of financing to assist in paying its bankruptcy related settlements, which may further accelerate the awaited subrogation payments it owes rights holders. Yesterday the bankruptcy court approved PG&E to secure and use up to $23…

According to analysts, loss development from last year’s Japanese typhoon Hagibis is not following the same path as 2018’s Jebi, with the current prognosis being that development is much better than feared. After the industry-wide experience with 2018’s typhoon Jebi and the resulting slow, creeping loss development, the insurance, reinsurance and insurance-linked securities (ILS) markets…

It’s business as usual in the catastrophe bond market despite the global crisis of the Covid-19 coronavirus outbreak, according to John Seo, Co-Founder and Managing Director of Fermat Capital Management. Commenting in a recent communication to his investors on the coronavirus outbreak, its effects on global financial markets and whether that has affected catastrophe bonds,…

Bermuda headquartered insurance and reinsurance group Aspen Insurance Holdings Limited has adjusted its risk appetite for certain exposures following recent catastrophe loss challenges. In reporting its annual results this week, as our sister site covered earlier today, Aspen revealed $143.2 million of catastrophe losses for 2019, much lower than 2018’s $262.9 million and which the…

Price guidance for U.S. primary insurance giant Allstate’s latest catastrophe bond issuance, the $250 million target Sanders Re II Ltd. (Series 2020-1) transaction, has moved higher for the riskier layer of notes, we understand. The eleventh catastrophe bond sponsored by Allstate that we have listed in our extensive catastrophe bond Deal Directory, this new transaction…

Insurer American Integrity has lifted its target for its latest catastrophe bond, with the  Integrity Re II Pte. Ltd. (Series 2020-1) transaction now aiming to secure the company up to $150 million of multi-year catastrophe reinsurance protection. The Integrity Re II 2020 deal launched at the beginning of the month, with American Integrity looking to…

Everest Re, the global re/insurer and third-party reinsurance capital manager through its Mt. Logan Re Ltd. vehicle, has promoted well-known industry executive Don Mango to the roles of Chief Risk Officer and Chief Actuary. Mango joined Everest Insurance in September 2018, taking on the role of Global Head of Actuarial Pricing and Modeling and responsibility…