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A EUR40mn private cat bond Windmill I Re (2013-1) has listed on the Bermuda Stock Exchange (BSX), according to listing documents posted 23 December.
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The World Bank has provided the Uruguayan state-owned hydro-electric power company with a $450mn weather and oil price insurance cover, and has reinsured the risk with Swiss Re and Nephila Capital through the latter's partnership with fronting reinsurer Allianz.
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French reinsurer Scor has bought EUR200mn ($272mn) of protection against extreme natural catastrophe and mortality risk in an innovative contingent capital deal with Swiss bank UBS.
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Legal & General has completed a longevity swap with two BAE Systems pension plans that cover £1.7bn of liabilities, in the fourth such deal for December as 2013 volumes reached a new peak.
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Bermudian (re)insurer Argo Group has lifted the target size on its new Loma Re cat bond to $165mn as 2013 insurance-linked securities (ILS) issuance becomes poised to break through the watershed barrier of $7.5bn.
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Canopius has said it is likely to continue to make acquisitions after its own $1bn+ sale to big three Japanese insurer Sompo.
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Aon Benfield is billing its initiative to broaden terms on 1 January placements as a proactive measure for reinsurers to secure signings in an increasingly commoditised property cat market, The Insurance Insider understands.
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French reinsurer Scor has bought EUR200mn ($272mn) of protection against extreme natural catastrophe and mortality risk in an innovative contingent capital deal with Swiss bank UBS, it said today (23 December).
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AIG confirmed it has acquired $400mn of collateralised reinsurance with its second Tradewynd Re catastrophe bond, as the insurance premium on the deal softened significantly from the insurer's first Tradewynd Re deal in July.
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Specialty insurer WR Berkley yesterday (18 December) announced its board had authorised a replenishment of its share buyback programme back up to a level of 10 million shares.
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Regulators need to supervise the insurance-linked securities (ILS) market to ensure that investors have sufficient expertise to analyse insurance risks, the European Insurance and Occupational Pensions Authority (Eiopa) said on 12 December.
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The California Earthquake Authority (CEA) will seek board approval today (16 December) to maintain its claims-paying capacity at the same level in 2014 as in 2013, according to meeting agenda documents.
