Best of Artemis, week ending 5th August 2018

Here are the ten most popular news articles, week ending 5th August 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 5th August 2018:

1. Irma loss deterioration, lottery jackpot hit ILS fund performance in June
   A number of insurance-linked securities (ILS) funds experienced negative performance during the month of June 2018, with further deterioration of the hurricane Irma industry loss estimate and the Lottoland lottery jackpot ILS payout both contributing. But still the average return of the ILS fund market was 0.28% for the month.

2. FEMA secures $500m NFIP cat bond with backing of over 35 investors
   The U.S. Federal Emergency Management Agency (FEMA) has now secured its $500 million of reinsurance from the capital markets through its first flood catastrophe bond issuance, the FloodSmart Re Ltd. (Series 2018-1) transaction, and more than 35 ILS investors and ILS funds have backed the deal.

3. Carr wildfire industry loss may surpass $1bn: Aon
   The insurance and reinsurance industry loss from the Carr wildfire in Shasta County, California, is anticipated to at least approach and possibly surpass $1 billion, as the destruction continues with now more than 1,550 structures completely destroyed and another 258 damaged by the fire.

4. Cal Phoenix Re wildfire cat bond may upsize, but at 20% higher pricing
   The Cal Phoenix Re Ltd. (Series 2018-1) catastrophe bond transaction, which is the first pure wildfire exposed deal that will benefit California focused electrical utility PG&E Corporation (the Pacific Gas and Electric Company), may increase in size slightly, but at the same time the proposed coupon has risen 20%.

5. Swiss Re launches parametric tsunami derivative for Japanese businesses
   Commercial risk transfer and insurance solutions provider Swiss Re Corporate Solutions, a division of the global reinsurance firm, has launched a novel parametric tsunami derivative product, designed to protect Japanese businesses against the financial impacts of tsunamis.

6. MGIC watching, as mortgage insurance-linked note market hits $2.2bn
   Mortgage insurance specialist MGIC, is watching the development of the mortgage insurance-linked notes (or insurance-linked securities) market closely and the success of transactions so far is likely to encourage new sponsors like MGIC to come forward.

7. Credit Suisse ILS backed Arcus Syndicate 1856 promotes Gfeller & Delaney
   Arcus Syndicate 1856 at Lloyd’s of London, which is backed by funds under the management of the Credit Suisse insurance and reinsurance linked investment strategies team, has announced two senior promotions for Adrian Gfeller and Gary Delaney, as well as a number of other core team updates.

8. Vida Capital raises $886m for longevity focused life settlements fund
   Vida Capital, an alternative asset manager with around $3.5 billion under management in various insurance-linked strategies has raised $886 million for a new closed-end life settlement fund, which is predominantly focused on longevity-contingent risk.

9. In taking DSA Re standalone AIG frees capital, Carlyle gathers assets
   American International Group (AIG) continues to adjust its operating model under the remit of Brian Duperreault, with the latest change being the announcement that the firms DSA Re legacy reinsurance vehicle is to be transformed into a standalone reinsurer, with the help of private equity giant The Carlyle Group.

10. RSA taps collateralised markets at reinsurance renewal
    UK headquartered primary insurer RSA Insurance Group has tapped the collateralised markets for a portion of its recent reinsurance renewal, with now 9% of its 3-year aggregate program backed by collateralised sources of reinsurance capital.

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 28 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.

Get listed in our MarketView directory of professionals.

View the current breakdown of the ILS market in our range of charts, allowing you to analyse cat bond issuance.

Check out the growing assets under management of the ILS fund market with our investment manager directory.