Financial
No More Rocking the Boat in Stocks But Gold?
Stocks sharply reversed intraday, and closed just where they opened the prior Friday. That indicates quite some pressures, quite some searching for direction in this correction that isn‘t over just yet. Stocks have had a great run over the past 4 months, getting a bit ahead of themselves in some aspects such as valuations. Then, […]
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Read MoreAfter reassuring pandemic response, expect flight to simplicity in ILS: Webber, Apex
The response of Bermuda, and the broader, insurance-linked securities (ILS) asset class to the global pandemic was reassuring, and as the market moves further into 2021, a flight to simplicity is expected to take hold, according to Ross Webber, Managing Director at independent financial services provider and fund administrator, Apex Group Ltd. In a recent…
Read MoreNephila delays launch of new specialty Lloyd’s syndicate 2358
Nephila Capital, the largest dedicated manager of insurance-linked securities (ILS) and reinsurance linked investment funds, told us it is delaying the launch of its specialty lined focused Lloyd’s syndicate 2358. Sources had told us the launch was set to slip as Nephila Capital lined up all of the necessary capital and initial deployment opportunities into…
Read MoreSompo seeks $200m Sakura Re 2021 Japan & US multi-peril cat bond
Japanese insurance and reinsurance giant Sompo has returned to the catastrophe bond market to sponsor its first issuance in four years, as it seeks a $200 million source of Japanese and US multi-peril catastrophe reinsurance with a Sakura Re Ltd. (Series 2021-1) deal. Sompo has sponsored a number of catastrophe bonds in the past, with…
Read MoreApollo and Athene to merge in deal valued at $29bn
Private equity specialist Apollo Global and life and retirement reinsurance company Athene Holding Ltd. are set to merge, in a transaction that values the latter at $11 billion and the combined company at $29 billion, underscoring the attractive combination that is investing alongside life and annuity reinsurance premium float accumulation. In an all-stock merger transaction,…
Read MoreSecurity First’s new cat bond jumps 125% to $225m, prices down 16%
Florida headquartered Security First Insurance Company is now set for its largest catastrophe bond transaction yet, as its new First Coast Re III Pte. Ltd. (Series 2021-1) issuance has more than doubled in size to $225 million while being marketed. At the same time the pricing on Security First’s second catastrophe bond has come in…
Read MoreMunich Re promotes Hawkins to MD of Australasia
Global reinsurance giant Munich Re has named a new Managing Director for its activities in Australasia, promoting former head of Non-Life Scott Hawkins to the role. Hawkins has worked for Munich Re in Australia since 2005 and for the last six years has led Non-Life reinsurance operations in the region for the company. As Managing…
Read MoreWinter storm exposed cat bonds stage partial price recovery
After seeing their prices drop significantly in the wake of the US winter storms and severe freezing weather, many of the exposed aggregate catastrophe bond tranches have now experienced a meaningful price recovery in the latest cat bond secondary market price sheets. As we explained last week, a number of winter storm exposed aggregate catastrophe…
Read MoreHong Kong targets issuance of first ILS or cat bond in 2021: IA
Hong Kong’s proposed insurance-linked securities (ILS) grant scheme, that will pay a share of issuance costs for catastrophe bond sponsors electing to use the domicile once its ILS regulatory regime is ready, is seen as an initiative to enhance the development of the local marketplace and could result in a first transaction being issued this…
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