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Floridian insurer American Coastal Insurance Company has returned to the insurance-linked securities (ILS) market with a renewal of its Armor Re cat bond shortly after pricing settled on two other Florida-focused bonds.
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Florida Citizens Property Insurance kept its risk transfer budget for 2014 stable at $300mn but managed to buy 70 percent more reinsurance limit than last year, highlighting the swingeing rate reductions that have occurred in the Sunshine State over the past two years.
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The board of Florida Citizens Property Insurance confirmed today (24 April) it has approved a $3.1bn risk transfer programme for 2014, including the new $1.5bn Everglades Re cat bond and $1.3bn of traditional reinsurance.
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Generali's Lion Re European wind bond is set to be one of a handful of cat bonds offering investors insurance premiums of less than 2.5 percent, sister publication Trading Risk understands.
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Heritage P&C is highlighting Floridian insurers' willingness to buy more reinsurance cover amid falling prices, as it launches a new $50mn offering of its Citrus Re cat bond just days after pricing its first $150mn issuance.
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RMS has reaffirmed its commitment to its own model development, despite the recent focus on its new RMS(one) platform, the firm said at its annual Exceedance conference last week.
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The reinsurance industry is facing increased pressure as insurers consolidate and become more comfortable retaining their own risks, according to a new study from Cass Business School academics published by professional services firm EY.
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Florida Citizens Property Insurance is on course to issue the largest cat bond in the history of the market with its new Everglades Re transaction, demonstrating that investors' appetite for insurance-linked securities remains undiminished despite falling returns.
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Florida Citizens Property Insurance is on course to issue the largest ever cat bond with its new Everglades Re transaction, demonstrating that investors' appetite for insurance-linked securities (ILS) remains undiminished despite falling returns
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Chedid Re, a prominent reinsurance broker in the Middle East and North Africa (Mena), has gained support from PartnerRe for a managing general agency (MGA) that will underwrite a range of financial lines insurance in the region
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ILS rates-on-line (RoLs) took their sharpest drop in the first quarter since the same period of last year, according to a respected RoL index
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The insurance-linked coupon on Heritage P&C's Florida-focused Citrus Re cat bond dropped 17 percent during the marketing process. It doesn't bode well for the forthcoming $4bn+ Florida cat renewals
