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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.

Bermuda special-purpose insurer registrations dip in 2021

Registrations down 10% from previous year's record level, with more than half related to mortgage ILS

Bermuda InsuranceLinked Securities

Scor launches $200m sidecar with Swedish pension fund

Alecta ramps up ILS strategy with allocation to Scor following significant deal with Swiss Re

Europe Scor

MS Amlin launches second Asia ILS vehicle

New vehicle will provide collateralised capacity for reinsurance portfolio written out on Lloyd's carrier's Singapore platform 

Asia Pacific MS Amlin

Cat bond issuance hits new record

Issuance rises 15% to $14bn in 2021 driven by catastrophe bonds

International InsuranceLinked Securities

Farmers completes $160m Topanga Re cat bond deal

Catastrophe bond provides cover against US disasters

North America InsuranceLinked Securities

Validus completes $400m Tailwind Re retro cat bond deal

Upsized deal provides protection against losses from named storms and earthquakes in the US and Canada

North America American International Group

Nephila taps London Bridge Risk for new syndicate funding

Capital provided through the Lloyd's transformer vehicle will be used to support investment manager's follow-only syndicate

London Lloyds

American Family upsizes Four Lakes Re cat bond

Mutual increases bond to $125m owing to investor demand

United States InsuranceLinked Securities

Farmers closes $160m Topanga Re cat bond

Upsized deal is Farmers' first venture into the catastrophe bond market 

North America InsuranceLinked Securities

Validus returns to cat bond market with $275m Tailwind Re deal

Bond to cover named storms and earthquakes in the US and Canada

North America Validus

Hannover Re targets $100m of retro cover with new cat bond

Latest issuance to provide protection against losses from US storms and wildfires, earthquakes, European windstorms and Japanese typhoons

Reinsurance InsuranceLinked Securities

UK proposes exempting ILS from stamp duty

Legislation seeks to make the UK a more attractive location for ILS business

InsuranceLinked Securities United Kingdom
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