At a Board meeting of the Texas Windstorm Insurance Association (TWIA) today, attendees heard that the catastrophe bond and reinsurance placement for 2025 is “looking good” while also noting that the projected rate-on-line (RoL) for the placement looks to be lower than the prior year, as the market has softened somewhat.Gallagher Re, the reinsurance broker … Read more
Tech-enabled property insurance company Slide Insurance remains on-track to secure what will be its largest catastrophe bond yet, still aiming for $250 million of reinsurance through the Purple Re Ltd. (Series 2025-1) transaction, while the price guidance has been updated in the lower-halves of the initially targeted ranges, Artemis has learned.Slide returned to the catastrophe … Read more
The insurance-linked securities (ILS) market is continuing to evolve beyond traditional catastrophe bonds, with growing issuance in cyber and parametric segments, reflecting efforts to close protection gaps and provide alternative risk transfer solutions, according to a new report from AM Best.While indemnity-based catastrophe bonds still heavily dominate the market, AM Best highlights the rising use … Read more
Ocean Harbor Insurance Group has successfully priced its debut catastrophe bond with the Oceanside Re Ltd. (Series 2025-1) issuance set to provide the targeted $75 million of collateralized multi-year catastrophe reinsurance for named storm and severe weather risks in the state of New York.Ocean Harbor entered the catastrophe bond market as a first time sponsor … Read more
We’ve learnt that insurer USAA is aiming to upsize its latest catastrophe bond to provide as much as $425 million of annual aggregate reinsurance protection, an increase from the initial $400 million target, for this new Residential Reinsurance 2025 Limited (Series 2025-1) deal.USAA continues to be the most consistent of catastrophe bond sponsors, augmenting and … Read more