Avatar returns with $65m Casablanca Re cat bond issued from Singapore

Florida focused insurer Avatar Property and Casualty Insurance Company has returned to the catastrophe bond market for what will be its second ever issuance, with a currently $65 million Casablanca Re Pte. Ltd. (Series 2020-1) transaction to provide named storm reinsurance protection. The Casablanca Re Pte. Ltd. (Series 2020-1) catastrophe bond will provide at least…

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Allstate’s Sanders Re II cat bond upsized by one-third to $200m

U.S. primary insurance giant Allstate has successfully increased the size of its new catastrophe bond transaction by one-third, with the Sanders Re II Ltd. (Series 2020-2) cat bond deal now featuring $200 million of notes. The successful upsizing of the issuance came after pricing guidance was lifted to the top-end of initial guidance, which is…

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Florida Citizens’ Personal Lines Account cat bond upsized to $110m

Florida’s Citizens Property Insurance Corporation has opted to slightly upsize its remaining Personal Lines Account tranche of its new catastrophe bond issue, with the Everglades Re II Ltd. (Series 2020-2) deal growing by 10% to $110 million by pricing. Having withdrawn the larger $200 million layer of Coastal Account linked catastrophe bond notes, Citizens still…

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Canada Life Re took EUR 5.3bn of NN Life longevity swap & reinsurance

Canada Life Reinsurance took EUR 5.3 billion of the long-term longevity risk associated with EUR 13.5 billion of in-force liabilities of NN Life’s portfolio, in the recently completed longevity swap and reinsurance arrangement. As we explained earlier this week, NN Life, part of the Nationale-Nederlanden (NN Group), has secured longevity swap and reinsurance arrangements with…

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Liberty Mutual reveals Slaughter’s departure, Perez takes CUO of GRS

U.S. primary insurer and global re/insurer Liberty Mutual has announced that well-known executive James Slaughter is set to depart the company, with David Perez promoted to Chief Underwriting Officer for the Global Risk Solutions (GRS) unit as his replacement. Slaughter is well-known in the insurance-linked securities (ILS) and reinsurance convergence space, having worked on many…

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