SageSure, the fast-growing catastrophe-exposed property specialist MGU, is back with another catastrophe bond that targets multi-peril reinsurance protection for the Auros Reciprocal Insurance Exchange and Interboro Insurance Company, with the Gateway Re Ltd. (Series 2026-2) issuance targeting $175 million of coverage, Artemis understands.This new deal comes on the heels of SageSure securing the largest cat bond in the Gateway Re series of deals, the $670 million Gateway Re Ltd. (Series 2026-1) that only priced earlier this week. The latest Gateway Re Ltd. Series 2026-2 catastrophe bond transaction is set to be the thirteenth in the Gateway Re cat bond series,…
Author: Awais
The case stems from Hurricane Ian damage to a Miami home owned by Paula Villa and Maykel Garcia in 2022. The couple signed an assignment of benefits agreement with Spartan Services on December 14, 2022, for water mitigation work. The agreement included language stating that clients must pay for any portion of work, deductibles, betterment, depreciation or additional work not relating to the subject claim on or before completion.
Global reinsurer Hannover Re’s Bermuda-based insurance-linked securities (ILS) platform, Hannover Re Capital Partners, started writing business at the January 1st, 2026, reinsurance renewals, and Sven Althoff, Member of the Executive Board for Property & Casualty, has described the venture’s start as “truly diversified”.Ahead of the 2025 meeting of the reinsurance industry in Monte Carlo, Hannover Re announced plans to launch its new Capital Partners platform, with Silke Sehm, Executive Board Member, revealing at RVS that investor conversations were very positive for this “missing piece” of the firm’s ILS business. Earlier this morning, Hannover Re held a call with the media…
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The insurer pointed to language in the policy that bars coverage for constant or repeated water seepage occurring over time, even when combined with a covered event. That provision, known as an anti-concurrent cause clause, stated the policy would not cover loss caused directly or indirectly by constant or repeated seepage or leakage of water which occurs over a period of time, regardless of any other cause or event contributing concurrently or in any sequence to the loss.
Then came the mitigation bills. Restoration 1, a contractor Smith hired with State Farm’s blessing, submitted invoices totaling nearly $120,000 for water mitigation and asbestos abatement work. State Farm’s response, according to the lawsuit, was to conduct its own assessment and offer just over $22,000 for the mitigation portion.
The Icosa Cat Bond Fund, the UCITS catastrophe bond strategy distributed by Icosa Investments AG, has experienced strong growth in assets through the second-half of 2025 which continued into the new year, now reaching a new milestone of US $1 billion in assets under management (AUM).Icosa Investments was launched and founded in Switzerland as a specialist catastrophe bond investment manager by former Twelve Capital executive Florian Steiger and Swiss financial services and capital markets specialist Jordan Nickerson. The company only opened its business and launched its first catastrophe bond fund at the beginning of 2024. The Icosa Investment Umbrella Fund…
One insurer claims another wrongly refused to pick up the tab
American Financial Group, Inc. posted record quarterly underwriting profit in the fourth quarter of 2025, with the Cincinnati-based insurer reporting net earnings of $299 million, or $3.58 per share, compared with $255 million, or $3.03 per share, in the same period last year.
Malta has streamlined the accounting requirements for Reinsurance Special Purpose Vehicles (RSPVs), a move expected to significantly bolster the country’s insurance-linked securities (ILS) market. According to Malta-based law firm Ganado Advocates, these changes offer a more proportionate regulatory environment for complex risk vehicles.For context, Malta introduced regulatory frameworks for RSPVs and securitisation several years ago. The Accountancy Profession (General Accounting Principles in respect of certain Eligible Entities related to the business of Insurance) Regulations (GAPEE) originally allowed specific re/insurers to opt out of IFRS 17 in favour of a local accounting framework. With the introduction of Legal Notice 299 of 2025, the…
In the weeks after the Trump administration reduced the number of recommended childhood vaccines for routine use, the public’s trust in the Centers for Disease Control and Prevention (CDC) remains at its lowest point, a new KFF Poll on Health Information and Trust finds. Fewer than half (47%) now say that they trust the agency at least “a fair amount” to provide reliable vaccine information, similar to the share who said the same in September, but down more than 10 percentage points since the beginning of the second Trump administration, and continuing a downward trend first measured during the COVID-19…
Results mark a stunning reversal from last year – and a rocky start for its interim leadership
Premiums soar for carriers as they wait for Supreme Court ruling
White Mountains has reported that its investment into the Outrigger Re collateralized reinsurance sidecar, which supports its P&C insurance and reinsurance subsidiary Ark, delivered pre-tax income of $45 million in 2025, of which $55 million was attributable to the 2025 underwriting year, partially offset by a loss of $10 million from the 2024 underwriting year.Through December 31st, 2025, White Mountains reports that Outrigger Re generated pre-tax income of $55 million from the 2025 underwriting year, $29 million from the 2024 underwriting year, and $76 million from the 2023 underwriting year. For 2024, Outrigger Re’s reported pre-tax income was $46 million,…