ORIGINAL PUBLICATION HERE Radian Guaranty has now completed its second issuance of mortgage insurance-linked securities (ILS), citing a pleasing response from investors to its $562 million Eagle Re 2019-1 Ltd. that secures it additional reinsurance capacity from the capital markets. The transaction has been in the market for some weeks now and saw Radian Guaranty looking to […]

ORIGINAL PUBLICATION HERE Over the last two decades, the capital structure of the reinsurance business has fundamentally shifted, driven by the forceful nature of third-party, or alternative reinsurance capital, according to Aditya Dutt of RenaissanceRe. Now, the capital market is the first avenue people turn to when major catastrophe losses strike, with deployment of third-party […]

ORIGINAL PUBLICATION HERE ILS Capital Management Ltd, the Bermudian-based manager of insurance-linked securities investments, delivered a double-digit return to a major investor last year. Bob Jacksha, chief investment officer of the New Mexico Educational Retirement Board, a $12.9 billion pension fund, said their investment with the Bermudian fund manager produced a return of 11.4 per […]

ORIGINAL PUBLICATION HERE Appleby, the specialist offshore law firm and fiduciary services provider, has added a new service of relevance to the insurance-linked securities (ILS) industry to its offering, by joining the Bermuda Stock Exchange (BSX) as a listing sponsor. Appleby is already a prolific law firm in the reinsurance, insurance-linked securities (ILS) and catastrophe […]

ORIGINAL PUBLICATION HERE Guernsey has launched a new hybrid insurance-linked securities (ILS) vehicle, an all-in-one structure that can act as both re/insurer and ILS fund, which aims to make ILS fund managers operational lives easier. The “world’s first” hybrid ILS vehicle will add “increased simplicity and efficiency for ILS fund managers,” according to Carey Olsen […]

ORIGINAL PUBLICATION HERE Bermudian insurance and reinsurance firm Arch Capital is said to be targeting the launch of a fronting for ILS business, to replace the perceived gap left behind by the exit of Tokio Millennium Re from this space, we’re told. The acquisition of Tokio Millennium Re by Bermudian reinsurer RenaissanceRe has left a gap in […]

ORIGINAL PUBLICATION HERE The government of Hong Kong included insurance-linked securities (ILS) in its budget this week, demonstrating the level of importance being placed on developing appropriate legislation in the Special Administrative Region of China. Hong Kong began planning for the development of legislation to allow for the establishment of reinsurance related special purpose vehicles for […]

ORIGINAL PUBLICATION HERE Singapore’s first insurance-linked securities transaction (ILS) has been finalised, according to law firm Rajah & Tann Singapore which acted as Singapore counsel to the transaction. The ILS comprises a catastrophe bond sponsored by Insurance Australia Group. The bond is the first Australian dollar-denominated catastrophe bond in the global market and a A$75m […]

ORIGINAL PUBLICATION HERE Insurance Australia Group (IAG) has sponsored its first catastrophe bond and the transaction is also the first cat bond to be issued in Singapore, using the countries’ Special Purpose Reinsurance Vehicle (SPRV) regulations. The AUD $75 million Orchard ILS Pte Ltd transaction has broken new ground by becoming the first cat bond to […]

ORIGINAL PUBLICATION HERE The successful issuance of the AUD $75 million Orchard ILS Pte Ltd catastrophe bond, the first for sponsoring insurer Insurance Australia Group (IAG) and the first cat bond to be issued in Singapore, took only a few weeks, according to a lawyer who worked on the transaction. The issuance of the Orchard ILS Pte […]