insurance linked securities (ILS) News

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …

Armour Raises $500 Million to Create Bermuda Reinsurer, Armour Group Ltd.

Armour, a Bermuda-based P/C run-off insurance business, announced it has raised up to $500 million to form a reinsurance group called Armour Group Ltd. The equity commitments were made in partnership with an investor group led by Aquiline Capital Partners, …

Neon Launches First ILS Vehicle in UK, NCM Re

Neon announced it has launched the first ILS vehicle in the UK, NCM Re (UK PCC) Ltd., and raised third party capital to support the UK’s first ILS transaction. NCM Re is the first UK-domiciled protected cell company, which utilizes …

Brit Launches Bermuda-Based Collateralized Reinsurer Sussex Capital

Brit Ltd., the London-based specialty insurer and reinsurer, has launched a Bermuda-domiciled collateralized reinsurance platform, Sussex Capital. Sussex Capital, through Sussex Re, a newly established Bermuda-domiciled special purpose insurer, will write direct collateralized reinsurance while also providing collateralized reinsurance to …

RMS Opens Office in Sydney to Support Client Growth in Australia, New Zealand

RMS, the Newark, Calif.-based global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The focus will be to help …

Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW

ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …

Blockchain Used as Settlement Mechanism for Cat Bond with Parametric Trigger

Financial markets are showing some signs of volatility these days after exceptionally low indicators since the start of the 2017. The Chicago Board Options Exchange Volatility Index, or VIX, is at its highest level this year. The VVIX Index, which …

World Bank Catastrophe Bonds to Provide Mexico with Disaster Cover of $360M

The World Bank Group issued its largest catastrophe bond, providing Mexico with financial protection of as much as $360 million against losses from tropical cyclones and earthquakes. Mexico is among the countries most vulnerable to natural disasters, the bank said …

Catastrophe Bond Market Breaks New Records in 2nd Quarter, 1st Half: Aon Study

Catastrophe bond issuance during the second quarter stood at US$6.38 billion across 20 transactions – a new record for quarterly issuance that surpassed the previous record of US$4.49 billion set in Q2 2014, according to a report issued by Aon …

ILS Issuance in Q2 Breaks New Record at $6.3B: Willis Towers Watson

Non-life insurance-linked securities (ILS) issuance reached a record-breaking $6.3 billion in Q2 2017, continuing the trend from the first quarter of the year, according to a report by Willis Towers Watson Securities, the investment banking business of Willis Towers Watson. …