Best of Artemis, week ending 18th November 2018

Here are the ten most popular news articles, week ending 18th November 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 18th November 2018:

1. California wildfires have now destroyed over 12,400 structures
   The toll of destruction from the ongoing outbreak of California wildfires continues to rise, as the number of structures destroyed has risen again to 12,406, suggesting an increasing loss for insurance, reinsurance and ILS market interests and pointing to an industry loss at the high-end, or above, current estimates.

2. PG&E sued over Camp wildfire, putting Cal Phoenix Re cat bond in the frame
   Electrical utility Pacific Gas & Electric Co. (PG&E) has been sued over the cause of the Camp wildfire, a move which could put investors in its $200m Cal Phoenix Re Ltd. (Series 2018-1) at risk of losses.

3. PG&E’s wildfire cat bond marked down for loss, traded at distressed price
   Pacific Gas & Electric Co’s (PG&E) $200m Cal Phoenix Re Ltd. (Series 2018-1) catastrophe bond has had its secondary market price marked down heavily by brokers who suspect that the cat bond will face a significant, if not total, loss due to the ongoing wildfire outbreak.

4. Stone Ridge reinsurance interval fund redemptions oversubscribed
   For the first time in the mutual insurance-linked securities (ILS) funds history, the Stone Ridge Reinsurance Risk Premium Interval Fund has seen applications for its latest quarterly share repurchase program become oversubscribed, Artemis has learned.

5. New Paradigm gets investment from TransRe to grow parametric platform
   New Paradigm Group, LLC, the Florida-based specialist managing general agency that sells parametric insurance and reinsurance products, has received an investment to help it grow its proprietary parametric platform from global reinsurance firm TransRe.

6. Reinsurance returns on capital to be eroded by 2018 cat losses: S&P
   The catastrophe loss activity witnessed so far in 2018 may be sufficient to ensure that reinsurance companies “return on capital in 2018 may not materially exceed reinsurers’ cost-of-capital,” according to rating agency S&P.

7. ILS NYC 2019 speaker update: Fermat, AmWINS, Swiss Re to join
   We’re pleased to reveal three additions from Fermat Capital Management, AmWINS Group and Swiss Re to the roster of confirmed speakers for our February 1st 2019 insurance-linked securities (ILS) conference in New York, Artemis ILS NYC 2019.

8. Retro losses could drive price increases in 2019: Goldman Sachs
   Losses faced by the retrocession market could influence reinsurance renewal pricing in 2019, as well as more broadly some lines of insurance, as impacts from recent catastrophe events in 2018 as well as loss creep from 2017 have resulted in a capital event for that niche of the industry, according to analysts.

9. Congo Ebola deaths rise heightening pandemic cat bond risk
   The number of deaths from the latest Ebola outbreak in the Democratic Republic of Congo has risen to over 200 according to the latest media reports, while the World Health Organisation (WHO) reported 154 confirmed deaths as of November 8th.

10. Oxbridge Re’s sidecar faces 55% loss of principal from hurricane Michael
    Cayman Islands domiciled reinsurance firm Oxbridge Re Ltd. has said that its fully collateralized reinsurance sidecar vehicle Oxbridge Re NS Ltd. is likely to take a portion of the firms losses from recent hurricane Michael, which could amount to a roughly 55% loss of principal.

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 33 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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