Best of Artemis, week ending 22nd July 2018

Here are the ten most popular news articles, week ending 22nd July 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.

Ten most viewed articles on Artemis.bm, week ending 22nd July 2018:

1. FEMA’s first NFIP flood cat bond launches, a $275m FloodSmart Re 2018
   The U.S. Federal Emergency Management Agency (FEMA) has launched its awaited first catastrophe bond to transfer risk from the National Flood Insurance Program (NFIP) to the capital markets and is seeking $275 million of reinsurance protection from a FloodSmart Re Ltd. (Series 2018-1) issuance.

2. Singapore to introduce protected cells for collateralised reinsurance
   Singapore has ambitions to become an insurance-linked securities (ILS) domicile for the Asian region or global issuers looking for an alternative, and with a special purpose reinsurance vehicle (SPRV) already regulated for, the addition of protected cell company (PCC) regulation is a natural next step.

3. Nephila Capital adds 11% to reach $12.2bn of ILS assets managed
   Nephila Capital, the largest investment manager of catastrophe and weather insurance-linked securities (ILS), has increased its total assets under management by roughly 11% so far this year, reaching $12.2 billion of ILS AuM as of the beginning of July 2018.

4. ILS can go beyond nat cat if someone takes the tail: Wallin, Hannover Re
   There’s potential for the expanding insurance-linked securities (ILS) market to play a meaningful role outside of the natural catastrophe space, however, on long-term business, someone must take the tail risk, says Ulrich Wallin, Chief Executive Officer (CEO) of reinsurance giant Hannover Re.

5. Markel CATCo raises $700m for increased mid-year demand
   Markel CATCo Investment Management Ltd., the retrocession and reinsurance linked investment manager, has raised an additional $700 million of capital from its existing investor base to meet an increased demand for its products at the mid-year renewals this year, Artemis has learned.

6. Japan flood losses estimated as in the billions: JLT Re
   The recent devastating flooding in Japan which is now reported to have caused at least 200 deaths and the flooding of thousands of homes and commercial properties is expected to cause industry losses in the billions of U.S. dollars, according to reinsurance broker JLT Re.

7. Reinsurers & ILS to assume “virtually all” Irma-related loss creep: Analysts
   Catastrophe losses in the second-quarter of 2018 appear manageable for property and casualty (P&C) insurers and reinsurers, however, analysts warn that rising loss trends will likely depress reserves, and that reinsurance capital is expected to assume the large majority of Hurricane Irma’s loss creep.

8. Lloyd’s ILS solution needs to augment syndicate capital at the right time: Vario
   It’s common knowledge that the Lloyd’s market has been looking seriously at how an insurance-linked security (ILS) or catastrophe bond structure could assist the market by supporting its capital and profitability, but it is vital any Lloyd’s ILS solution supports syndicate capital, according to Vario Global Capital Ltd.

9. CEA’s need for reinsurance (and cat bonds) to grow significantly
   The California Earthquake Authority (CEA) projects that it could need as much as a stunning $48 billion of claims paying capacity in a decades time, a considerable increase on the amount it has in force today, suggesting the CEA will increasingly call on the reinsurance and catastrophe bond market for growing support.

10. Brit to make Sussex Capital into a “leading ILS manager”, adds two new hires
    Specialty insurance and reinsurance player Brit Ltd. has set out its stall with respect to its ambitions in the collateralised reinsurance and insurance-linked securities (ILS) space, saying that it aims to turn its Sussex Capital unit into a “leading ILS manager.”

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 25 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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