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Hurricane Erick: No cat bond or private ILS impact expected by Twelve Securis

1 week ago | artemis.bm | Steve Evans

Twelve Securis, the specialist insurance-linked securities investment manager, is not anticipating any impact to the World Bank catastrophe bond or any of the firm’s private ILS positions due to losses caused by major hurricane Erick in Mexico yesterday.
PGGM / PFZW ILS allocation range reduced for Munich Re sidecar Leo Re

1 week ago | artemis.bm | Steve Evans

The target allocation range has been reduced for an investment into a Munich Re reinsurance sidecar that features in the insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client Dutch pension PFZW. PGGM has been investing in the Leo Re quota share sidecar structure that is managed by reinsurance giant Munich Re since 2016, on behalf of the PFZW pension.
Everest now targets up to $1bn across its two Kilimanjaro Re II catastrophe bond series

1 week ago | artemis.bm | Steve Evans

Everest Group is now aiming to secure as much as $1 billion of collateralized retrocessional reinsurance limit from the capital markets across its two new Kilimanjaro II Re Ltd. (Series 2025-1) and Kilimanjaro II Re Ltd. (Series 2025-2) transactions, Artemis can report.
Swiss pension Nest gets 20%+ returns from ILS and cat bond investments in 2024

1 week ago | artemis.bm | Steve Evans

Switzerland based pension fund Nest Sammelstiftung, or the Nest Collective Foundation, saw catastrophe bonds and insurance-linked securities (ILS) as one of its best investment asset classes in performance terms in 2024, benefiting from over 20% across its cat bond and reinsurance allocations.
Investors see insurance-linked securities as one of the best income yield opportunities

1 week ago | artemis.bm | Steve Evans

Institutional investors are searching for diversification, income generation and also defensiveness in their asset selection, as they strive to build resilient portfolios to suit a world defined by fragmentation and flux, a survey from asset manager Schroders explains.
Hurricane Erick makes landfall in Mexico at 950mb, reducing risk to World Bank cat bond

1 week ago | artemis.bm | Steve Evans

Major hurricane Erick has made landfall on the coast of Mexico with 125 mph sustained winds in the state of Oaxaca and the NHC reports the minimum central pressure at 950mb, which is above the level where the World Bank facilitated $175 million IBRD CAR Mexico 2024 (Pacific) parametric catastrophe bond would be triggered.
Hurricane Erick threat to Mexico cat bond could reignite parametric trigger debate: Icosa

1 week ago | artemis.bm | Steve Evans

Were major hurricane Erick to trigger the $175 million IBRD CAR Mexico 2024 (Pacific) catastrophe bond that provides disaster insurance to the Mexican government, it could reignite the debate surrounding parametric triggers, given the recency to another trigger event with hurricane Otis back in 2023, Florian Steiger of Icosa Investments has suggested.
Convex targets even lower pricing for now $150m Hypatia 2025-1 catastrophe bond

1 week ago | artemis.bm | Steve Evans

Convex Group, the specialty insurance and reinsurance company, has now focused in on securing 50% more protection from its latest Hypatia Ltd. (Series 2025-1) catastrophe bond, with $150 million said to be the ambition but at lower pricing still as the price guidance has fallen for a second time, Artemis has learned. Convex had ventured back into the catastrophe bond market earlier this month, with an initial target to secure $100 million of retrocessional protection from the capital markets.
Major hurricane Erick puts Mexico's parametric Pacific coast IBRD cat bond on-watch

1 week ago | artemis.bm | Steve Evans

The rapid intensification of tropical storm Erick into a major hurricane has brought Mexico’s Pacific coast hurricane parametric catastrophe bond, the $175 million IBRD CAR Mexico 2024 (Pacific) issuance, sharply into focus, as Erick’s central pressure is estimated just a couple of millibars above where the trigger for attachment sits.
After May, Allstate’s cat losses reach $1.37bn pre-tax for 2025 aggregate risk period

1 week ago | artemis.bm | Steve Evans

US insurer Allstate has announced an estimated pre-tax catastrophe loss burden for the month of May 2025 of $777 million, which when added to the cat losses from April takes the total for its 2025 annual risk period for its aggregate catastrophe bonds to $1.37 billion. Severe weather events have again been the driver of another costly month of catastrophe losses for Allstate.