USAA targets $375m+ Residential Re 2022-1 aggregate cat bond
USAA, the U.S. primary mutual insurer, is sponsoring a $375 million plus aggregate catastrophe bond transaction, with a Residential Reinsurance 2022 Limited (Series 2022-1) deal being marketed to cat bond funds and investors. This is USAA’s regular May sponsorship of an annual aggregate catastrophe bond, as the insurer continues to place the capital markets at the […]
Catastrophe bond market hits new high on busy start to 2022: Report
The outstanding market for catastrophe bonds and related insurance-linked securities (ILS) reached a new all-time high at the end of the first-quarter of 2022, as a busy start to the year took Artemis’ measure of the sector to $37.5 billion. This is according to the latest quarterly report on the catastrophe bond and related insurance-linked securities […]
PGGM ILS portfolio at ~$8.2bn, as Aeolus, SCOR & Nightingale Re added
PGGM, the Dutch pension fund investment manager that continues to be the largest single investor in the insurance-linked securities (ILS) market, increased its ILS portfolio to roughly US $8.2 billion, while adding new mandates with Aeolus, SCOR and a managed account structure named Nightingale Re. PGGM’s ILS portfolio reached EUR 7.2 billion at the end […]
One of the best entry opportunities to catastrophe bonds: Ramseier, Twelve
Current market conditions make allocating to the catastrophe bond asset class a particularly attractive prospect for investors at this time, according to Twelve Capital Founding Partner & Group CIO, Dr. Urs Ramseier. In a letter, Ramseier sets out the Twelve Capital view on the current geopolitical landscape, and how the invasion of Ukraine by Russia […]
Healthcare of Ontario Pension Plan (HOOPP) grows ILS allocation 31% in 2021
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via insurance-linked funds as well as […]
Healthcare of Ontario Pension Plan (HOOPP) grows ILS allocation 31% in 2021
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via insurance-linked funds as well as […]
Brazil publishes “Letra de Risco de Seguro” rules for ILS securitization
The Brazilian government has published new legislation in its official gazette for what are being termed “Letra de Risco de Seguro”, or LRS and translates to Letter of Insurance Risk, which are insurance-linked securities (ILS) laws, as the country looks to encourage risk transfer and reinsurance to the capital markets. We’ve explained before that Brazil’s […]
NCIUA to close Cape Lookout Re 2022 cat bond at $330m in size
The North Carolina Insurance Underwriting Association (NCIUA) just missed the revised upper-end target for its new Cape Lookout Re Ltd. (Series 2022-1) catastrophe bond issuance, with the deal eventually pricing to offer the insurance pool $330 million of reinsurance protection. At launch, the NCIUA was seeking $300 million or more in collateralized reinsurance protection from the […]
New risks & differentiation attractive to ILS investors: Gallagher Re
While investor appetite for insurance-linked securities (ILS) has been tested by consecutive years of elevated catastrophe losses, the asset class still plays an important role for many allocators and there remains an appetite to invest in new classes of risk, while differentiation is also an important consideration. Reinsurance broker Gallagher Re highlighted these trends in […]
Relative value of ILS investing evident in 2021: Swiss Re
2021 saw the catastrophe bond market soften, with a trend towards tightening across most of the year, but differentiation remained, driven by investor appetites, but according to Swiss Re Capital Markets the relative value of the insurance-linked securities (ILS) asset class persists. As we explained yesterday, the end of the year saw cat bond investors […]