Catastrophe bond prices move again on LA wildfires, ~$200m write-down so far
On Friday some catastrophe bonds saw further negative secondary market price movements due to potential exposure to aggregate attachment erosion, or actual losses, from the Los Angeles and Southern California wildfires. Here we detail the latest information we have on names that experienced the most meaningful moves in the last week. As we’ve been reporting, official […]
Generali and BPCE to establish €1.9trn asset management joint venture
Generali and BPCE have signed a non-binding Memorandum of Understanding (MoU) to create a joint venture between their respective asset management operations. With over €1.9 trillion of assets under management (AUM), the combined business would reportedly create a global asset management platform with leading positions and critical scale in both Europe and North America. According […]
Lloyd’s reaches $1.92bn of capital deployed through London Bridge ILS platform
The Lloyd’s insurance and reinsurance market has reported that its London Bridge risk transformation and insurance-linked securities (ILS) platform has now seen $1.92 billion of capital deployed through its cells, with $2.55 billion of capital committed. This new capital deployment milestone for the London Bridge platform was reached at the end of 2024. In total, […]
CEA targets $200m of quake reinsurance with Ursa Re 2025-1 catastrophe bond
The California Earthquake Authority (CEA) has returned to the catastrophe bond market to sponsor its first issuance since late 2023, seeking $200 million or more in multi-year collateralized California earthquake reinsurance protection from the capital markets through this Ursa Re Ltd. (Series 2025-1) issuance. The CEA last sponsored a catastrophe bond in December 2023 and in that […]
ILS market remains attractive and should deliver strong returns in 2025: Cambridge Associates
According to Joseph Tolen, Senior Investment Director in the Credit Investment Group at Cambridge Associates, the insurance-linked securities (ILS) market “continues to be attractive and should deliver strong returns in 2025.” In a recent report for Cambridge Associates, Tolen wrote that, “demand for additional catastrophe coverage from insurers has kept the market firm, which has […]
Amundi US cat bond fund returned 14.27% in year to Oct 31st, AUM growth continues
Amundi US Investment Management has reported that its Pioneer CAT Bond Fund strategy delivered a 14.27% return in the year to October 31st 2024, while assets under management in the strategy have continued to expand through the end of the year. Back in late November, we had reported that Amundi US’ most recently launched dedicated […]
CEA mulls second-event tower, with potential role for reinsurance / cat bonds
The California Earthquake Authority (CEA) is discussing the need for either a pre-funded subsequent or second-event funding tower (with risk transfer and reinsurance perhaps a part of it), or the infrastructure for one, that would support its functions after a significant earthquake loss that depletes its claims paying ability. Recognising the very real risk that […]
Alternative capital can provide wildfire capacity, but pricing a sticking point: Morningstar DBRS
With wildfires becoming a more recurring peril for the California property insurance market, alternative capital may be available to provide coverage, including through multiple-peril alternative reinsurance capital instruments, however “pricing is likely to remain a sticking point” according to analysts at Morningstar DBRS. In a new report, Morningstar DBRS has revealed that the on-going wildfires […]
UCITS cat bond funds grow 26% in 2024, end year with $13.8bn under management
Catastrophe bond funds in the UCITS format continued their strong growth through the end of last year, reaching a new high of just over $13.8 billion in cat bond assets under management, which represents very impressive 26% growth through 2024. In the final quarter of 2024, these UCITS structured catastrophe bond investment funds added almost […]
Altor Re launches as reinsurance and ILS focused broker in London
Altor Re Ltd, a new London based brokerage that specialises in placing insurance-linked securities (ILS) and reinsurance business globally, has officially been launched by founder Raj Jadeja. Established in October 2024, the company is “poised to revolutionise” the reinsurance brokerage landscape, leveraging data-driven techniques in order to meet the evolving needs of its clients. Moreover, Altor […]