SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, announced the close of the Gateway Re 2024-2 second and subsequent event catastrophe bond at $130 million, with pricing 75 basis …
SageSure and SureChoice Underwriters Reciprocal Exchange (SURE) announced that SURE, a coastal property reciprocal insurer whose policies are exclusively available through SageSure, has successfully closed a $150 million private placement catastrophe bond transaction. Houston, Texas-based SURE entered into a three-year …
The Danish Red Cross is offering the world’s first catastrophe bond for volcanic eruptions, which is designed to improve the provision and efficiency of humanitarian relief after eruptions of 10 volcanoes across three continents. The cat bond aims to raise …
Willis Re Securities reports it has structured and placed EUR 120 million of insurance-linked securities (ILS) to provide reinsurance capacity for Covéa Mutual Insurance Group, France’s largest domestic property/casualty insurance group. The transaction was executed in collaboration with Willis Towers …
A U.K. reinsurer has sold the first terror catastrophe bond, giving investors the chance to lock in high yields in return for taking on terrorism risks. The 75 million-pound ($99 million) three-year bond will pay 5.9 percent interest, state-backed Pool …
Swiss Re Capital Markets Corp. has successfully structured and placed the issuance of $925 million of insurance-linked securities for the California Earthquake Authority. Swiss Re Capital Markets underwrote the transaction through two classes of principal-at-risk variable rate notes issued by …
While property and casualty catastrophe bond primary issuance levels were “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels reported in 2014, according to GC Securities, a division of …
Return relative to risk values for catastrophe bonds at current prices are actually higher in 2015 than they were last year, even though recent market commentary suggests that market prices have stabilized, according to research by RMS, the Newark, Calif.-based …
Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital markets arm of reinsurance broker Guy Carpenter, announced …
Downward pricing pressures eased during the June 1 and July 1 renewals – the first time since January 2013 – which suggests that a reinsurance pricing floor is not far away, according to a report published by JLT Re. “Although …
