Artemis has learned that FEMA has increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, raising the figure to $6.75 billion and as a result two FloodSmart Re catastrophe bond tranches have had their maturity dates extended, with partial repayments of principal to be made.The U.S. Federal Emergency Management Agency’s (FEMA) … Read more
Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, grew the catastrophe bond and insurance-linked securities (ILS) assets under management in its range of mutual reinsurance fund strategies to more than $5 billion in the last quarter of record.When we last reported on the investment managers 40’s Act compatible mutual … Read more
Last year, catastrophe data aggregator and industry loss estimate provider PERILS revealed an extension to its services, with a new methodology that combines its standard data methodology with that of CRESTA CLIX, which the firm’s CEO Christoph Oehy has said will simplify the process for risk transfer use-cases including catastrophe bonds and ILW’s.Back in November, … Read more
The softening of the property catastrophe reinsurance market seen at the key January 2025 renewals has been “entirely rational”, according to broker Gallagher Re, despite the fact the decline in risk-adjusted pricing was greater than many reinsurers had planned for.Catastrophe loss-free property reinsurance treaties declined almost across the board, except for a few regions that … Read more
QBE, the Australia headquartered global insurance and reinsurance group, has now secured its targeted $250 million of retrocessional protection from its first catastrophe bond sponsorship since 2013, as the Bridge Street Re Ltd. (Series 2025-1) issuance has now been priced roughly 14% below the mid-point of initial guidance, we are told.QBE has been back in … Read more
