Alternative Capital
The emergence of a $30bn global marketplace for insurance-linked securities has served as evidence of the increasingly prominent role third-party capital now plays in risk transfer. Over the medium to long-term this sector is expected to continue its growth as investors take advantage of the low correlation insurance has with other asset classes. This section brings together Insurance Day’s coverage of alternative capital and the way it is helping reshape global insurance markets.
Hannover Re sponsors first cat bond to cover cloud outages
Reinsurer secures $13.75m of retro coverage through Cumulus Re issuance
American European completes inaugural catastrophe bond
Transaction provides three years of collateralised protection against named storms for coastal homeowners’ business written by MGU ShoreOne on American European’s behalf
Slide secures $210m in storm protection with Purple Re cat bond
Florida-based property insurtech sponsors its largest catastrophe bond to date
SageSure closes upsized Gateway Re catastrophe bond
Transaction provides $250m of collateralised protection against losses from named storms
Climate change to drive capital into reviving ILS market
ILS will continue to attract specialised investors, but cannot prevent some risks becoming uninsurable, experts say
Axis names Freeman as head of ILS
Bermuda-based carrier promotes Kyle Freeman to lead its insurance-linked securities development
Record 2023 ILS market tied to disciplined capital deployment: AM Best
Total insurance-linked securities market capacity estimated at around $100bn at the end of 2023, up $4bn for the year
Hamilton secures $200m in reinsurance through Easton Re catastrophe bond
Transaction will provide with three years of cover against losses from named storms in the US and its territories and earthquakes across North America
Fema secures $575m of collateralised reinsurance cover for NFIP
Transaction marks Fema's seventh foray into the catastrophe bond market for the National Flood Insurance Program
Heritage seeks $100m in storm cover with Citrus Re catastrophe bond
Bond will provide multi-year coverage against storm losses in Alabama, Georgia, Mississippi, the Carolinas and Florida
Cyber catastrophe bonds show potential for diversification: CyberCube
Losses ‘far less than perfectly correlate’ across the four recently issued 144A cyber catastrophe bonds, modelling firm says
RenRe to run off AlphaCat business
Property catastrophe-focused ILS investment business has already received redemption requests for ‘substantially all’ funds
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