Best of Artemis, week ending 10th December 2017

Here are the ten most popular news articles, week ending 10th December 2017, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

Ten most viewed articles on Artemis.bm, week ending 10th December 2017:

1. Nationwide’s Caelus Re V 2017 cat bond looks set for losses
   The $375 million Caelus Re V Ltd. (Series 2017-1) catastrophe bond, which was sponsored by U.S. primary insurer Nationwide Mutual Insurance Company in May and only came on-risk in June, looks set to face a loss as aggregated natural catastrophe claims have almost eaten through the riskiest tranche of notes.

2. First ILS secondary trade on a blockchain completed
   Solidum Partners AG, the Swiss based catastrophe bond and ILS investment fund manager, has successfully completed the first ILS secondary trade on a blockchain, after a new investor member joined its private ILSBlockchain and entered into the transaction with one of Solidum’s funds.

3. Some ILS funds suffer negative October on California wildfire loss
   A number of insurance-linked securities (ILS) and reinsurance or retrocessional linked investment funds have fallen to a negative return in October 2017, the third month in succession for some strategies following the impacts of recent hurricanes and other catastrophe loss events.

4. California wildfire claims pass $9.4bn, suggests growing industry loss
   The California Department of Insurance has released its data on insurance claims filed due to the California wildfires in October, putting the total at above $9.4 billion, a number which suggests the final industry loss to insurance and reinsurance interests is likely above current estimates.

5. Neon reported to be first to make a UK ILS application
   Specialist Lloyd’s and Bermuda insurance and reinsurance company Neon Underwriting has become the first to make an official application to undertake an insurance-linked securities (ILS) transaction in the UK, according to a report.

6. Trapped collateral could cause ILS capital scarcity at Jan 2018 renewals
   There are fears that trapped collateral could result in ILS capital becoming more scarce at the upcoming January reinsurance renewals, as to-date it does not appear that all of the ILS market’s capacity that has been eroded by recent catastrophe losses has been replaced.

7. FEMA to collect on NFIP reinsurance, expects full $1.024bn
   The U.S. Federal Emergency Management Agency (FEMA) has begun the process of collecting on its 2017 reinsurance program, after claims from hurricane Harvey’s flooding after surpassing its retention due to the impact of the storm and anticipates recovering the full $1.024 billion from its 25 reinsurers.

8. Beazley to channel facilities business via SPA 5623 to third-party capital
   Lloyd’s specialist insurance and reinsurance player Beazley is planning to launch a new special purpose arrangement (SPA) syndicate 5623, which will take a quota share of the firm’s business underwritten from broker facilities and be backed by a range of third-party investors, including some capital from the ILS market.

9. Leadenhall grows ILS assets 29% to $4.5 billion
   Leadenhall Capital Partners, the London headquartered insurance and reinsurance linked securities fund manager, has grown its ILS assets under management significantly this year, rising 29% from $3.5 billion at the start of 2017 to now sit at $4.5 billion.

10. AIR almost halves hurricane Maria loss estimate to $27b – $48b
    Catastrophe risk modelling firm AIR Worldwide has almost halved its estimate for insurance and reinsurance industry losses from hurricane Maria, dropping the range from the initial $40 billion and $85 billion it had announced in September, to now estimate somewhere between $27 billion and $48 billion of industry losses.

This is by no means every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 28 new articles published in the last week. To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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