Archive for December, 2013


One hurricane could wipe out 60% of catastrophe bonds: AIR Worldwide

A single Category 5 hurricane making a number of landfalls on the U.S. coastline, including impacting Miami and New York, could wipe out as much as 60% of catastrophe bond tranches, according to analysis from risk modeller AIR Worldwide.AIR Worldwide risk consultant Justin Pierce takes a look at the modelled read the full article →

KKR & Co. L.P. and Nephila Capital, the benefits flow both ways

When KKR & Co. L.P. (Kohlberg Kravis Roberts) acquired a 25% stake in the largest asset manager in the insurance-linked securities (ILS) and reinsurance sector, Nephila Capital, it was clear this was good for Nephila and it's also proving very good for KKR.It's almost a year since KKR invested in read the full article →

Capital, convergence, competition = reinsurance renewal rates fall

Reinsurance rates-on-line have fallen at the January 1st 2014 renewals in nearly all classes of business and geographic regions, as strong capital levels, convergence capital and competition put downward pressure on pricing, said reinsurance broker Guy Carpenter today.Strong balance sheets among reinsurers and alternative reinsurance capital or insurance-linked securities (ILS) read the full article →

Reinsurance premiums to fall in 2014: Hannover Re CEO

The CEO of German reinsurer Hannover Re, the third largest reinsurance firm in the world, said in an interview with newspaper Die Welt that he expects reinsurance premiums to fall in 2014.In the interview (available in German on the Die Welt website here) Ulrich Wallin said that demand for reinsurance read the full article →

Best of Artemis, week ending 29th December 2013

You can read all our market news stories and articles here on the Artemis news blog. Subscribe to the weekly email newsletter updates and for your convenience here are the ten most popular news articles from the last seven days on Artemis.Top ten most viewed articles on, week ending read the full article →

Costa Concordia insured loss could reach $2 billion

Due to difficulties faced during the salvage of the stricken cruise ship Costa Concordia the total insured loss from one of the most costly marine disasters in history look set to rise, perhaps to greater than $2 billion, according to reports.A report in the Independent newspaper yesterday suggested that the read the full article →

PERILS investigates Dirk, third major European windstorm of season

Zurich based independent provider of industry wide Euro catastrophe insurance loss data and indices to reinsurers and ILS specialists, PERILS AG, has added Dirk to its list of European windstorms to investigate, taking the tally to three so far this season.When PERILS places a catastrophe event 'under investigation' it means that read the full article →

Investor demand for catastrophe bonds to remain strong in 2014: Fitch

After a bumper 2013 of issuance in the catastrophe bond market, with the volume issued reaching the second highest level ever recorded, investor demand for cat bonds is expected to remain strong in 2014, according to Fitch Ratings.2013 has been a great year for the sponsors in the cat bond read the full article →

American Modern’s Queen City Re catastrophe bond completes

The first catastrophe bond sponsored by American Modern Insurance Group Inc., Queen City Re Ltd. (Series 2013-1), has completed successfully giving it a $75m source of collateralized named storm reinsurance protection backed by capital markets.American Modern Insurance Group is a U.S. insurance subsidiary of the world's largest reinsurance firm Munich read the full article →

€40m Windmill I Re Ltd. private cat bond sponsored by Achmea Reinsurance Company N.V.

Artemis understands that Dutch group reinsurer Achmea Reinsurance Company, part of the Dutch Achmea Group, has sponsored its first catastrophe bond, in a privately transacted Dutch windstorm deal, through Bermuda SPI Windmill I Re Ltd.A new insurance-linked securities (ILS) issuer Windmill I Re Ltd., listed an ILS note program and read the full article →