Artemis has learned that GeoVera Insurance Holdings, Ltd. is now targeting as much as $400 million in earthquake reinsurance protection from capital market investors through its new Veraison Re Ltd. (Series 2025-1) catastrophe bond.As we reported earlier this month, GeoVera Insurance Holdings, Ltd ventured back to the cat bond market with an initial target to secure … Read more
Tower Hill Insurance Exchange, a Florida homeowners and commercial property insurance underwriter, has returned to the catastrophe bond market for its second time, seeking $100 million or more in Florida named storm reinsurance from this Winston Re Ltd. (Series 2025-1) issuance.A year ago, Tower Hill Insurance Exchange secured $400 million of reinsurance from its debut … Read more
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
