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» Q1 2014 Catastrophe Bond & ILS Market Report - A Record Quarter
This report reviews the catastrophe bond and insurance-linked securities (ILS) market at the end of the first-quarter of 2014, looking at the new risk capital issued and the composition of the transactions completed during Q1 2014.

The total volume of new catastrophe bonds and insurance-linked securities (ILS) issued during Q1 2014 reached $1.585 billion, according to the Artemis Deal Directory. This is a record first-quarter, the highest level of new cat bond and ILS issuance recorded in the first three months of the year in the markets history.

» Reinsurance renewal prices fall in April, consensus points to further declines at June renewal
The April 1st renewals saw reinsurance pricing down as much as 20%. The consensus points to reinsurance pricing declining again at the June renewals, with U.S. property catastrophe reinsurance expected to see the steepest falls.

» The capitalisation of the reinsurance business is changing
The way the reinsurance business is capitalised has changed over the last decade, as an increasing amount of alternative capacity funded by capital market investors has entered the sector.

» Lloyd’s to proactively embrace reinsurance convergence trend
The Lloyd’s of London insurance and reinsurance market’s new strategic plan calls for the market to proactively embrace reinsurance convergence and new capital sources as a key strategic priority.

» El Niño forecast to produce less active hurricane season in 2014

» Alternative reinsurance capital grew 28% to $50 billion in 2013

» Record first-quarter as 2014 catastrophe bond issuance starts strongly

» Reinsurance renewal prices fall by as much as 20% across sector

» Munich Re on competition and alternative reinsurance capital

» Warren Buffett: U.S. catastrophe rates too low for Berkshire Hathaway

» Endurance thinks bigger is better in re/insurance, makes offer for Aspen

» Alternative reinsurance capital to grow to $100 billion: BarCap

» ILS Diversified Ltd., first insurance linked fund-of-funds launches

» Interview: Dmitry Mnushkin, President, Treefrog Consulting Ltd.
Treefrog Consulting Ltd is a Bermuda-based risk software firm which specialises in solutions for the reinsurance and insurance-linked securities (ILS) industry. Dmitry Mnushkin has been a software architect and developer in the reinsurance industry for the past 14 years.

» Alternative capital is efficient capital: Frank Majors, Nephila Capital
The preferred terminology used at ILS investment manager Nephila Capital to describe the third-party capital that has entered the reinsurance market, as institutional investors appreciation for catastrophe risk as an asset class has grown, is not ‘alternative capital’, rather it is ‘efficient capital’..

» Interview: Joe Louwagie, AVP, Property Claim Services (PCS)
Artemis interviewed Joe Louwagie, assistant vice president at Property Claim Services® (PCS®), a unit of Verisk Analytics (Nasdaq:VRSK).

» ILS investment manager interview: Michael Stahel, LGT Insurance-Linked Strategies
Artemis chatted with Michael Stahel, one of the four partners/portfolio managers of LGT Capital Management’s Insurance-Linked Strategies team.