Best of Artemis, week ending 20th September 2015

Here are the ten most popular news articles, week ending 20th September 2015, 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.

Top ten most viewed articles on Artemis.bm, week ending 20th September 2015:

1. Monte Carlo Reinsurance Rendez-vous 2015
   All our coverage from last weeks Monte Carlo event, when the reinsurance and ILS world comes together to talk about the opportunities seen for the renewals ahead, the markets structure and where the industry is heading next.

2. It’s not “business as usual” in reinsurance: Jerrowek, Munich Re
   While performance remains “pretty good” for many players in the global reinsurance and insurance market, it is no longer “business as usual” according to Torsten Jeworrek, member of the board at the world’s largest reinsurer Munich Re.

3. Amtrak sponsoring PennUnion Re Ltd. parametric catastrophe bond
   A very interesting new catastrophe bond transaction has been launched to investors. PennUnion Re Ltd. (Series 2015-1) is a $200m (or larger) parametric U.S. storm surge, wind and earthquake bond, with the ultimate sponsor and beneficiary being passenger rail company Amtrak.

4. Entire risk transfer network needed to close protection gap: Swiss Re
   Challenges in the global insurance and reinsurance industry have caused firms to adapt and search for returns in an intensely competitive environment, but an industry-wide effort to bridge the protection gap signals vast growth opportunities for risk transfer market participants, says Swiss Re.

5. ILS 2020: Bigger, converged, cheaper, more liquid, tradable & innovative
   Executives from the insurance-linked securities (ILS), reinsurance and institutional investments space, all agreed that in 2020 the alternative capital market and ILS will be bigger, fully converged, cheaper, more liquid and tradable and more innovative than ever.

6. Alternative capital to help Lloyd’s re-balance towards reinsurance: Beale
   By welcoming alternative reinsurance capital into Lloyd’s of London, the world’s oldest re/insurance market can rebalance its portfolio, which is becoming overly weighted to insurance due to current market conditions, according to Inga Beale.

7. Reinsurance margins heading ‘below acceptable returns’: KBW
   Modest rate decreases are expected across almost all reinsurance and commercial insurance lines over the next few years, unless something happens to turn the market, “eventually compressing underwriting margins below acceptable returns” according to analysts at KBW.

8. Tokio Millennium Re launches Capital Solutions unit; increases ILS focus
   Tokio Millennium Re, the global reinsurance operations of Tokio Marine & Nichido Fire Insurance Co., Ltd., is increasing its focus on ILS business and advancing its partnership with the capital markets, with the launch of a new unit named ‘Capital Solutions’.

9. Gap between reinsurance market tiers is widening: S&P
   Differing grades of reinsurance “culling” among cedants signals a growing divergence between Tier 1 and Tier 2 reinsurers as strategic partnerships and track record trump capacity, according to Standard & Poor’s (S&P).

10. Reinsurance market’s capital structure transformed: JLT Re
    New institutional and third-party capital entities augmenting the global reinsurance market’s capacity at a time of persistent benign loss activity has transformed the sector’s capital structure, but developments at mid-year renewals could signal change is near, according to JLT Re.

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 34 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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Artemis’ Q2 2015 Catastrophe Bond & ILS Market Report – Keeping up with demand

We’ve now published our Q2 2015 catastrophe bond & ILS market report.

This report reviews the catastrophe bond and insurance-linked securities (ILS) market at the end of the second-quarter of 2015, looking at the $3.162 billion of new risk capital issued and the composition of the cat bond & ILS transactions completed during Q2 2015.

Download your copy here.