Financial
Liberty Mutual’s new $300m Mystic Re IV cat bond priced below guidance
Liberty Mutual’s latest visit to the catastrophe bond market can be considered a resounding success for the company, after the new Mystic Re IV Ltd. (Series 2021-1) catastrophe bond transaction upsized to $300 million while marketing and the notes priced at a level below the low-end of initial guidance. These two factors, upsizing and pricing…
Read MoreAmerican Strategic owner’s Bonanza Re 2020-2 cat bond fixed at $295m
The new Bonanza Re Ltd. (Series 2020-2) catastrophe bond issuance eventually grew by 195%, with the now priced transaction set to provide $295 million of reinsurance protection to ARX Holding, the Progressive-owned parent of American Strategic Insurance Group. When the cat bond was launched to the market, it was seeking at least $100 million of…
Read MoreCohen & Co. to raise $235m with third Butler-led re/insurance SPAC vehicle
Fixed income financial services focused investment firm Cohen & Company, LLC has begun a capital raise for what will be its third insurance, reinsurance and insurtech focused Special Purpose Acquisition Company, or SPAC, named INSU Acquisition Corp. III. As with its previous two insurance and reinsurance focused Special Purpose Acquisition Company (SPAC) ventures, Cohen &…
Read MoreBBC pension gets £3bn longevity swap from Zurich & Canada Life Re
The BBC Pension Scheme has added new benefit security for members with the completion of a UK £3 billion plus longevity swap transaction, with the assistance of global insurance firm Zurich and global reinsurance firm Canada Life Re. The longevity swap arrangement will cover over £3 billion of pensioner liabilities for the BBC Pension Scheme,…
Read MoreIf Market Timing Works At All, It Works All of the Time
Does market timing work? That’s the only point of dispute between Buy-and-Holders and Valuation-Informed Indexers, advocates of the model for understanding how stock investing works rooted in the Nobel-prize-winning research of Robert Shiller. Q3 2020 hedge fund letters, conferences and more Buy-and-Holders’ Beliefs vs Valuation-Informed Indexers’ Beliefs Buy-and-Holders believe that market timing does not work […]
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Read More2020 insured catastrophe losses estimated at $83bn by Swiss Re
According to global reinsurance firm Swiss Re, insured catastrophe losses in 2020 are estimated at US $83 billion so far, making this year the fifth costliest on-record for the industry. Around US $76 billion of the insured loss total is due to natural catastrophes, Swiss Re said, while man-made loss events contributed the other US…
Read MoreILS industry has good will towards ESG, but there’s more to do: Roundtable
Both the understanding and adoption of environmental, social, and governance (ESG) practices and compliance in the insurance-linked securities (ILS) industry is growing in prominence, but as noted by industry experts at a recent roundtable event, there’s more work to do. A group of experts from across the ILS, investment and broader risk transfer business met…
Read MoreBrit hails “strong response” to first cat bond from ILS investor community
Specialty insurance and reinsurance player Brit Ltd. has hailed the “strong response” from ILS investors to its debut catastrophe bond issuance, which helped the Sussex Capital UK PCC Limited (Series 2020-1) transaction upsize to $300 million. Brit’s debut cat bond completed yesterday, securing the company a $300 million source of multi-year named storm and earthquake…
Read More6 Preferred Stocks To Buy Right Now, And 1 To Avoid
Published on December 14th, 2020 by Nikos Sismanis Since COVID-19’s initial selloff around March, the overall market indices have been rallying continuously, with relatively limited volatility and strong investor confidence. During this time, the technology sector has become the new safe-haven and go-to place when one is pondering on where allocate capital in the market.…
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