Best of Artemis, week ending 9th December 2018

Here are the ten most popular news articles, week ending 9th December 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.

More speakers have been announced for our next New York conference!

Ten most viewed articles on Artemis.bm, week ending 9th December 2018:

1. Lloyd’s renewals said in disarray. Late renewals may come back to bite syndicates
   In our discussions with market sources regarding the upcoming reinsurance renewals one trend that keeps being raised is that many Lloyd’s markets are leaving their reinsurance and retrocession renewals very late, which may come back to bite them.

2. Traditional reinsurers targeting retro opportunities at renewals
   A number of the world’s leading reinsurance firms are aiming to underwrite more retrocession at the upcoming January 2019 renewal season, as they view the retro market as an opportunity, given the impact trapped collateral may have on the availability of retro capacity at 1/1.

3. Markel CATCo strengthens 2017 reserves. Authorities investigate loss picks
   Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment specialist, has announced that it is to further strengthen its loss reserves for 2017 catastrophe events, while at the same time it has been announced that the firm has received an enquiry from regulatory authorities over the original loss picks it made.

4. Ontario Teachers’ pulls out of two funds as it downsizes ILS exposure
   The Ontario Teachers’ Pension Plan Board (OTPP), one of the longest standing pension fund investors in insurance-linked securities (ILS), is to again downsize its allocations to the space and has already pulled back from two ILS funds, Artemis understands.

5. 2018 is the real test for ILS investors: Lohmann, Secquaero
   While everyone had originally said that 2017’s catastrophe losses were providing the first real test of insurance-linked securities (ILS) investors and structures, according to Dirk Lohmann, Chairman and CEO of Secquaero Advisors Ltd., it is actually 2018 that is the real test for the ILS market.

6. Marriott hotels hack designated as PCS Global Cyber loss event
   Last weeks announcement of a major cyber hack attack and resulting data breach of one of the Marriott hotel chain’s reservation systems is expected to lead to a significant cyber insurance and possibly reinsurance market loss, leading Property Claim Services (PCS) to designate the event.

7. Post-loss fundraising set to be more challenging for (some) ILS funds
   It’s clear that after the series of heavy catastrophe losses that have struck the reinsurance and insurance-linked securities (ILS) industry since the middle of 2017, some ILS funds are likely to find raising capital more difficult after losses until they have proven their ability to make returns over-time (again).

8. ILS NYC 2019 speaker update: FEMA, Everest Re & HSBC to join
   We’re pleased to reveal three more speakers for our next conference, with senior representatives from the U.S. Federal Emergency Management Agency (FEMA), Everest Re and HSBC Global Asset Management all set to participate in our February 1st 2019 insurance-linked securities (ILS) event in New York, Artemis ILS NYC 2019.

9. Reinsurance renewals may hold “surprise to the upside” – Twelve Capital
   There is the potential for the 2019 reinsurance renewals to hold a “surprise to the upside,” according to ILS investment manager Twelve Capital, who suggests that rates may be better than the market currently anticipates after the major losses of recent months.

10. Hours clause questions raised over California wildfire reinsurance claims
    Questions related to the hours clause are being raised with respect to the recent California wildfires, as some cedants look to the possibility of claiming more than once on their reinsurance or retrocession protection, Artemis has learned.

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 26 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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