Insurance
PRA to assess whether UK ILS regs need post-Brexit transition changes
The United Kingdom’s Prudential Regulatory Authority (PRA), part of the Bank of England, said it will keep its policy related to insurance-linked securities (ILS) and insurance special purpose vehicles (iSPV’s) under review as the Brexit transition proceeds, in case any changes are need. The UK’s withdrawal from the European Union, the so-called Brexit process, has…
Read MoreBlue Halo Re 2020 cat bond target lifted to $150m at higher pricing
The target for the new Blue Halo Re Ltd. (Series 2020-1) catastrophe bond transaction from Allianz Risk Transfer has been lifted by 50% to $150 million, while the pricing has moved towards the upper-end of guidance. Allianz Risk Transfer, the specialist and alternative risk focused unit of the global insurance and reinsurance group Allianz, returned…
Read MoreAchmea looks to upsize its Windmill II Re cat bond by 25%
European insurer Achmea is hoping to increase the size of its new Windmill II Re DAC (2020) catastrophe bond transaction by as much as 25%, with the offering now targeting up to EUR 100 million (US $113m) of reinsurance protection for the company. Dutch headquartered European market focused insurance group Achmea returned to the catastrophe…
Read MoreAvatar’s Casablanca Re cat bond term shortened to one-year
The term of Avatar Property and Casualty Insurance Company’s latest catastrophe bond was shortened to one year just before its issuance, as the insurer settled for a single year of reinsurance coverage from the $65 million Casablanca Re Pte. Ltd. (Series 2020-1) transaction. The reason for the shortening of the term of Avatar’s new catastrophe…
Read MoreBest of Artemis, week ending 14th June 2020
Here are the ten most popular news articles, week ending 14th June 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish. Ten most read articles on Artemis.bm,…
Read MoreRate improvements to continue at July renewals: Volpi, Leadenhall
Reinsurance pricing is expected to rise strongly at the July 1st 2020 renewals, with retrocession likely to be an area of particular increase, according to Lorenzo Volpi, Head of Business Development at Leadenhall Capital Partners LLP. Volpi and Leadenhall are anticipating rate increases of between 20% to as high as 40% across reinsurance and retrocession,…
Read MoreGermany considers cat bonds to support pandemic risk fund: Reports
The insurance and reinsurance industry in Germany has reportedly come together to discuss and strategise the launching of a EUR 10 billion pandemic risk fund, to provide risk capital in the event of future pandemics, with insurance-linked securities (ILS) one of the funding avenues being explored, it has been reported. First reported by German newspaper…
Read MoreWalking a capital raising tightrope between glory & rate pressure
Capital top-ups, recapitalisation and fresh start-up capitalisation efforts are accelerating in insurance and reinsurance markets, as founders and investors look to make the most of the firming to hardening rate environment that is being seen widely across the sector. In some cases, these capital raising efforts are fully warranted, as there are re/insurers that require…
Read MoreFidelis’ new Herbie Re cat bond hits $125m at top-end pricing
The new Herbie Re Ltd. (Series 2020-1) catastrophe bond transaction that is sponsored by specialty insurance and reinsurance firm Fidelis Insurance Holdings Limited has successfully been upsized by the target 25% to reach $125 million of coverage for the company. At the same time, we’re told that the pricing has now been fixed at the…
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