Catastrophe bond

Best's Review Examines Claims Backlog as 2022 Atlantic Hurricane Season Begins

Retrieved on: 
Wednesday, June 1, 2022
Professional Services, Insurance, Finance, Interview, Life, Review, ESG, Legislation, News, Solution, Investment, Catastrophe bond, Stormy Weather, COVID-19, AM, Industry, Illinois State University, ALL, Insurance, Pharmaceutical industry, Insurance

The June issue of Bests Review examines a backlog of claims, mainly in Florida, and its impact on reinsurance and the insurance-linked securities market.

Key Points: 
  • The June issue of Bests Review examines a backlog of claims, mainly in Florida, and its impact on reinsurance and the insurance-linked securities market.
  • According to Stormy Weather: In Florida, Property Claims Face Litigation Backlog , an above-average hurricane season could add to the claims stockpile, although proposed legislation may provide some solutions.
  • Bests Review is AM Bests monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Palomar Holdings, Inc. Announces the Successful Completion of June 1 Reinsurance Renewal

Retrieved on: 
Tuesday, May 31, 2022
Company, Private Securities Litigation Reform Act, Point estimation, Securities & Exchange Commission of Pakistan, Aggregate, Pacific typhoon season, U.S. Securities and Exchange Commission, Insurance, NASDAQ, Solution, Catastrophe bond, Â, ILS, Partnership, S&P, Earthquake, Security (finance), Torrey Pines, Growth, Outlook, GLOBE, Reinsurance

LA JOLLA, Calif., May 31, 2022 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (Palomar or Company) today announced the successful completion of certain reinsurance programs incepting June 1, 2022.

Key Points: 
  • LA JOLLA, Calif., May 31, 2022 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (Palomar or Company) today announced the successful completion of certain reinsurance programs incepting June 1, 2022.
  • Palomars Chief Risk Officer, Jon Knutzen added, We thoughtfully navigated a complicated renewal given the larger macro headwinds surrounding this June 1 renewal cycle.
  • Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (PSIC), Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company (PESIC).
  • Palomars insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a financial strength rating of A- (Excellent) from A.M. Best.

Ariel Re Successfully Sponsors Inaugural 144a Catastrophe Bond

Retrieved on: 
Friday, June 18, 2021
Professional services, Insurance, Finance, Reinsurance, Catastrophe bond, Offshore finance, Money, Finance

Ariel Re announced that it has sponsored its first 144A index-triggered catastrophe bond (cat bond) issued by Bermuda special purpose insurer Titania Re Ltd. (Titania Re).

Key Points: 
  • Ariel Re announced that it has sponsored its first 144A index-triggered catastrophe bond (cat bond) issued by Bermuda special purpose insurer Titania Re Ltd. (Titania Re).
  • Ryan Mather, Chief Executive Officer of Ariel Re, commented: Were very pleased to announce the success of Ariel Res entrance into the cat bond market.
  • This transaction supports Ariel Re in our mission to be the premier manager of reinsurance risk.
  • Ariel Re operates principally through Syndicate 1910 at Lloyds but also offers access to Lloyds Brussels (LBS) via LBS Syndicate 5336.

Vantage Risk Enters ILS Market with Upsized $225 Million Vista Re Cat Bond

Retrieved on: 
Friday, May 7, 2021
Professional services, Insurance, Finance, Money, Finance, Economy, Reinsurance, Actuarial science, Catastrophe bond, Offshore finance, Financial law, Portfolio, Financial risk

b'Vantage Risk Ltd. (Vantage), a recently launched Bermuda reinsurance company, and part of Vantage Group, has sponsored its first 144A index-triggered catastrophe bond transaction.

Key Points: 
  • b'Vantage Risk Ltd. (Vantage), a recently launched Bermuda reinsurance company, and part of Vantage Group, has sponsored its first 144A index-triggered catastrophe bond transaction.
  • The designated risk period runs from May 15, 2021 to May 14, 2024.
  • Additionally, it expands the Vantage profile among ILS investors and allows investors to grow their risk portfolios alongside Vantage.
  • We add creativity to tech-enabled efficiency and robust analytics to address risks others avoid.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210507005301/en/\n'

Palomar Holdings, Inc. Sponsors Torrey Pines Re Catastrophe Bond

Retrieved on: 
Wednesday, March 31, 2021
Insurance, Reinsurance, Actuarial science, Catastrophe bond

LA JOLLA, Calif., March 31, 2021 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (Palomar or the Company) today announced that through its wholly-owned subsidiaries, Palomar Specialty Insurance Company (Palomar Specialty) and Palomar Excess and Surplus Insurance Company (PESIC), the Company has successfully closed a $400 million 144A catastrophe bond completed through Torrey Pines Re Pte.

Key Points: 
  • LA JOLLA, Calif., March 31, 2021 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (Palomar or the Company) today announced that through its wholly-owned subsidiaries, Palomar Specialty Insurance Company (Palomar Specialty) and Palomar Excess and Surplus Insurance Company (PESIC), the Company has successfully closed a $400 million 144A catastrophe bond completed through Torrey Pines Re Pte.
  • Palomar entered into a multi-year reinsurance arrangement with Torrey Pines Re, a special purpose insurer established in Singapore whereby Torrey Pines Re provides Palomar with indemnity-based reinsurance covering earthquake events.
  • The catastrophe bond was designed to seamlessly fit into Palomars existing traditional catastrophe reinsurance program.
  • Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company.

DGAP-News: Plenum Investments Ltd. substantially engaged in the World's First CAT Bond Transaction of the Red Cross

Retrieved on: 
Thursday, March 25, 2021
Money, Finance, Reinsurance, Catastrophe bond, Offshore finance, Bond, Undertakings for Collective Investment in Transferable Securities Directive, Insurance

Sponsored by the Danish Red Cross, the newly launched CAT bond is the first bond in the world to cover volcano catastrophe risks.

Key Points: 
  • Sponsored by the Danish Red Cross, the newly launched CAT bond is the first bond in the world to cover volcano catastrophe risks.
  • The volcano CAT bond is an impressive example of the use of catastrophe bonds in the humanitarian field.
  • The CAT bond of the Red Cross is another milestone on the road to a targeted protection of the most vulnerable regions of the world.
  • Plenum Investments Ltd. is an established provider in the UCITS CAT bond fund segment and leading in the sustainability analysis of capital market-based transfers of insurance risks.

Best’s Market Segment Report: Insurance-Linked Securities Market Endures Elevated Catastrophe Activity and Global Pandemic in 2020

Retrieved on: 
Wednesday, March 24, 2021
Banking, Professional services, Insurance, Finance, Reinsurance, Types of insurance, Catastrophe bond, Offshore finance, Money, Finance, Insurance-Linked Securities, Bond, Financial services

The new Bests Market Segment Report, titled, Insurance-Linked Securities Market Weathers Elevated Catastrophe Activity and Global Pandemic in 2020, notes that global reinsurance capital returned to its pre-pandemic level of USD 485 billion at year-end 2020, comprising USD 88 billion of ILS capital and USD 397 billion of traditional reinsurance capital, according to estimates from AM Best and Guy Carpenter.

Key Points: 
  • The new Bests Market Segment Report, titled, Insurance-Linked Securities Market Weathers Elevated Catastrophe Activity and Global Pandemic in 2020, notes that global reinsurance capital returned to its pre-pandemic level of USD 485 billion at year-end 2020, comprising USD 88 billion of ILS capital and USD 397 billion of traditional reinsurance capital, according to estimates from AM Best and Guy Carpenter.
  • Additionally, the ILS market saw a record year in 2020 for catastrophe bond issuance, driven predominantly by a glut of maturities and a host of new issuers.
  • Given the level of scheduled maturities this year, AM Best believes cat bond issuance in 2021 could reach or eclipse 2020 levels.
  • An ongoing issue in the ILS market is the amount of trapped capital due to actual and potential losses from natural catastrophe events before 2020 and the COVID-19 pandemic, along with pre-emptive trapping (i.e.

Elementum Advisors Bolsters Investor Relations Team with New Hire

Retrieved on: 
Wednesday, January 13, 2021
Money, Finance, Reinsurance, Catastrophe bond, Offshore finance, Alternative investment, Investment management, Economy

As a member of Elementum's BDIR team, Todor will enhance the firm's management of client relationships and investor education as well as product and strategy development.

Key Points: 
  • As a member of Elementum's BDIR team, Todor will enhance the firm's management of client relationships and investor education as well as product and strategy development.
  • "Todor is a great addition to our exceptional BDIR team," added John DeCaro, Founding Partner and Senior Portfolio Manager at Elementum.
  • Elementum Advisors is an independently-operated, SEC-registered alternative investment manager specializing in collateralized natural event reinsurance investments.
  • The Elementum team possesses a lengthy track record of portfolio management for risk-linked investments, from more liquid catastrophe bonds to higher alpha collateralized reinsurance investments.

Catastrophe bond market breaks all records in 2020

Retrieved on: 
Monday, January 4, 2021
Finance, Money, Reinsurance, Types of insurance, Economy, Insurance, Catastrophe bond, Offshore finance, Insurance-Linked Securities, Bond, Financial market, Juniperus Capital

With over 80 individual catastrophe bond and related insurance-linked security (ILS) transactions listed in our Directory in 2020, this beat the previous record of 68 transactions recorded in 2018.

Key Points: 
  • With over 80 individual catastrophe bond and related insurance-linked security (ILS) transactions listed in our Directory in 2020, this beat the previous record of 68 transactions recorded in 2018.
  • Contributing to this total were ten brand new market entrants, as the range of insurance, reinsurance and corporate sponsors of catastrophe bonds expanded in 2020.
  • 2020's active year of catastrophe bond issuance is even more impressive when the backdrop of the COVID-19 pandemic is considered.
  • "2020 was a landmark year for the catastrophe bond market and for insurance-linked securities (ILS) funds and their investors," Steve Evans, Owner and Editor of Artemis.bm commented.

Securian Financial Is First U.S. Direct Life Insurer to Complete a Mortality Insurance-Linked Security Transaction

Retrieved on: 
Monday, October 26, 2020
Professional services, Insurance, Finance, Types of insurance, Securian Financial Group, Insurance, Life insurance, Catastrophe bond, Finance, Money, Financial services

Securian Financial affiliate, Minnesota Life Insurance Company, has successfully completed a $100 million insurance-linked security (ILS) transaction, becoming the first U.S. direct writer of life insurance to utilize an extreme mortality bond structure.

Key Points: 
  • Securian Financial affiliate, Minnesota Life Insurance Company, has successfully completed a $100 million insurance-linked security (ILS) transaction, becoming the first U.S. direct writer of life insurance to utilize an extreme mortality bond structure.
  • The transaction is the first Rule 144A catastrophe bond exposed to extreme mortality risk featuring an indemnity trigger on an annual loss ratio basis.
  • Securian Financial is the marketing name for Securian Financial Group, Inc. and affiliates.
  • Insurance products are issued by its affiliated insurance companies, including Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer.