Best of Artemis, week ending 17th June 2018

Here are the ten most popular news articles, week ending 17th June 2018, 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 or get our email alerts for every article we publish.

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Ten most viewed articles on Artemis.bm, week ending 17th June 2018:

1. Operational Re II Ltd., a second operational risk cat bond for Credit Suisse, closes at CHF146m
   A new operational risk catastrophe bond, Operational Re II Ltd., an insurance-linked securities (ILS) or cat bond like arrangement transferring operational risk exposure to the capital markets, has been successfully completed at a size of CHF 146 million (approx US $148m).

2. China Re & Singapore discuss ILS and cat bond cooperation
   The Chairman of Chinese reinsurance firm China Re visited Singapore recently where he discussed issues related to the reinsurers work in the Singapore re/insurance market, including discussions on the potential for cooperation between China Re and Singapore in the area of catastrophe bonds.

3. XL Catlin & New Ocean treble size of Daedalus I Re vehicle to $600m
   Global insurance and reinsurance firm XL Catlin and its ILS fund manager partner New Ocean Capital Management have significantly expanded the size of one of their third-party capital vehicles, growing the Daedalus I Re Ltd. special purpose insurer to $600 million of limit, providing investors with aligned access to XL Catlin’s property catastrophe risks.

4. Lawmakers want FEMA to buy disaster risk transfer. NFIP reinsurance to expand
   The United States Federal Emergency Management Agency (FEMA) could be mandated to purchase much more in the way of risk transfer if a bill that aims to get FEMA buying insurance, reinsurance and capital markets risk transfer tools to provide disaster relief financing comes into law.

5. Lottoland to make Fortuna jackpot ILS claim after EUR 90m win
   Investors in the Lottoland sponsored lottery jackpot insurance-linked securities (ILS) and collateralised reinsurance are set to be on the hook for some level of payout after a EUR 90 million win by a customer triggered payouts through the firms unique Fortuna PCC insurance model.

6. Texas hailstorm industry loss could reach $1bn: Karen Clark & Co.
   The insurance and reinsurance industry loss caused by the recent June 6th hailstorm that impacted Texas around the Dallas Fort Worth area, could reach as much as $1 billion, according to analysis by catastrophe risk modelers Karen Clark & Company (KCC).

7. WHO warns on risk of Ebola outbreak spread, as confirmed cases rise
   The World Health Organisation (WHO) has warned of the “significant risk” that the outbreak of the Ebola virus in the Democratic Republic of Congo spreads to neighbouring countries, as the number of confirmed cases rises again placing the World Bank issued pandemic catastrophe bonds and swaps into focus again.

8. Oppenheimer expands ILS offering with new ILS Interval Fund launch
   Asset manager Oppenheimer is expanding its insurance-linked securities (ILS) and reinsurance linked investment offering with the launch of its first strategy that invests across the ILS instrument spectrum, beyond just catastrophe bonds, an interval mutual fund structure named the Oppenheimer ILS Interval Fund.

9. Leadenhall hires Cooper as non-life ILS analyst from SCOR
   Specialist insurance-linked securities (ILS) and reinsurance linked investment manager Leadenhall Capital Partners LLP has hired George Cooper to a new role as non-life analyst at the firm, who joins the company from French reinsurer SCOR.

10. More UK ILS deals on the way, as PRA notes ILS vital for UK’s competitiveness
    Artemis understand that there are a number of new efforts to use the UK’s ILS regulatory regime underway, with a range of transactions mooted and being explored or actively worked on currently. At the same time the UK regulator has noted the importance of ILS to the UK’s competitiveness.

This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 23 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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