Twelve Capital has completed a $35 million private catastrophe bond designed to cover second event risk across all natural perils in the US.
The Insurance Linked Strategies (ILS) team at Lombard Odier Investment Managers has completed its first bond transaction using blockchain, the immutable ledger for recording transactions.
With the $10 billion threshold for annual ILS issuance finally pierced in 2017, it’s time for the global risk transfer community to make ‘catastrophe bonds phase II’ a reality, according to the quarterly PCS Q4 2017 Catastrophe Bond Report, authored by Tom Johansmeyer, assistant vice president, PCS Strategy and Development.
Specialist Lloyd's insurer Neon has unveiled the first insurance-linked securities (ILS) vehicle to be formed in the UK and completed a $72 million collateralised quota share reinsurance transaction that will underwrite a portion of its syndicate’s business.
The ILS market showed resilience during the catastrophe losses in the second half of the year, comfortably weathering the first major test for a number of funds with investors prepared to recapitalize funds and provide liquidity for trapped capital, according to the latest 1st View renewals report from Willis Re.
In 2017 the UK introduced legislation to make the jurisdiction a hub for insurance-linked securities – a move that could represent an important shift in the ILS landscape, according to executives interviewed by Intelligent Insurer for our year-end questionnaire.
Jardine Lloyd Thompson Capital Markets (JLTCM), a subsidiary of reinsurance brokerage firm JLT Re placed a catastrophe bond (Market 2017-2, Weather), which closed at $14.50 million.
Reinsurance Group of America (RGA) has completed an asset and longevity risk transaction with Liverpool Victoria Friendly Society (LV=) where it will reinsure approximately £900 million in individual annuity business.
Willis Towers Watson Securities, the investment banking business of Willis Towers Watson, has structured and placed €90 million of insurance-linked securities (ILS) for French domestic P&C insurance group Covea Mutual Insurance Group.
Specialty re/insurer Brit is launching a new Bermuda-domiciled collateralised reinsurance platform, Sussex Capital, and has appointed former Axis Re CEO Jay Nichols to join its board.