Insurance

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist, has returned to the capital markets to sponsor an almost $70 million renewal sidecar issuance through its special purpose insurer Voussoir Re Ltd. Voussoir Re Ltd. was first registered in Bermuda in 2019, as a special purpose insurer and segregated accounts vehicle established for collateralised…

Helios Underwriting, the Lloyd’s of London focused investment and underwriting vehicle, has secured backing from specialist insurance-linked securities (ILS) and reinsurance investment firms ILS Capital Management and Hudson Structured Capital Management. The two experienced ILS and reinsurance investment managers are between them subscribing for £40.8 million of an up to £60 million capital raise by…

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…

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…

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…

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,…

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…

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…

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…