Alternative reinsurance capital for deployment into insurance-linked securities (ILS), collateralised contracts and catastrophe bonds was flat through the third-quarter of the year at $93 billion, but around $15 billion remained trapped at the end of September 2019, Aon believes.
Global specialist re/insurer AXIS Capital has added another layer to its Alturas Re collateralised sidecar issuance for 2020, with $47.25 million of what look like property catastrophe insurance linked notes issued in two tranches.
U.S. primary insurer and global re/insurer Liberty Mutual has completed another collateralised reinsurance sidecar placement for 2020, with a $50 million slice of the arrangement now listed on the BSX.
A $100 million Stratosphere Re Ltd. (Series 2020-1) catastrophe bond will provide a source of reinsurance to cover certain primary insurance tail risks that were underwritten by and for ILS fund manager Nephila Capital.
Aetna, the health, medical and benefits insurance arm of CVS Health, has returned to the insurance-linked securities (ILS) market for its eleventh Vitality Re transaction (Vitality Re XI Ltd. (Series 2020)), as it continues to leverage the capital markets as a source of reinsurance capital.
Hannover Re has added another almost $75 million of risk capital to its Seaside Re private catastrophe bond issues for 2020 through another seven transactions, taking the total issued around this January renewal season to $151.5 million.
Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, has renewed its ground-breaking Asian sidecar transaction, with a $77 million Lion Rock Re II issuance.
Hannover Re is back in the catastrophe bond market to source a slice of its own retrocessional coverage, with a $100 million or greater international multi-peril 3264 Re Ltd. (Series 2020-1) cat bond transaction.
The latest catastrophe bond from Swiss Re has been well-received by the ILS investor base, helping the Matterhorn Re Ltd. (Series 2020-1) cat bond double in size while marketing to become a $350 million issuance.