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The California Earthquake Authority, through its Bermudian-based special purpose insurer Ursa Re Ltd, has issued a $500 million cat bond to cover earthquake risk in California. The Series 2016-1 Class A notes will run for three years and become due ...

Bermuda Monetary Authority has released its first report to highlight the island’s reinsurance industry’s resilience to major, but improbable, catastrophic events. The Authority’s Catastrophe Risk in Bermuda Report gives a high-level overview of the ...

The first hurricane to make landfall in Florida since 2005 will likely generate insurance losses approaching $500 million. That’s the view of Karen Clark & Company, US-based experts in catastrophe loss estimation, whose projections for Hurricane Herm...

The global insurance-linked securities market shrank by more than $1 billion in the second quarter, as new issuance slowed. That is according to a report by insurance blog website Artemis.bm, which found that new issuance of catastrophe bonds and ILS...

Wildfires raging through Alberta are now expected to be classed as a “reinsurance event” with the natural disaster looking to be the costliest natural disaster in Canada’s history. The three largest local primary insurers have direct exposure that is...

Net new issuance of insurance-linked securities totalled $2 billion in the first three months of this year — the most for any first quarter in history. The figures from the ILS market update from Willis Capital Markets & Advisory, the investment bank...

The City of London is poised to launch a fresh bid to lure lucrative insurance-linked securities business to Britain. London’s prestigious Financial Times reported yesterday that the British government had set its sights on attracting the fast-growin...

The boom in the catastrophe bond market is leading some experts to voice fears that investors do not fully understand the risks they are taking on — and so they could flee in a panic in the event of a major catastrophe that triggers losses. Jay Patel...

A new $57 million private catastrophe bond has been launched in Bermuda. The bond transaction used Willis’ Resilience Re cat bond issuance platform, which was launched in October last year. It was listed on the Bermuda Stock Exchange (BSX) on Decembe...

NEW YORK (Bloomberg) — Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the US billions due to floods after the storm spared the largest cities in Mexico. Flooding in Texas may lead to more than $3 billi...

Bermuda is in a strong position to hold on to its insurance-linked securities business — despite attempts by the City of London to muscle in on the sector, ILS Bermuda chairman Greg Wojciechowski said yesterday. Mr Wojciechowski was speaking after a ...

A $100 million catastrophe bond to cover Turkey against earthquakes has been set up in Bermuda. Now the Turkish Catastrophe Insurance Pool (TCIP) plans to continue to build its relationship with the market. The Bosphorus Ltd bond provides reinsurance...