Archive for April, 2021

Mortgage insurance group NMI Holdings, Inc. is back in the capital markets for what will be its sixth mortgage insurance-linked notes transaction, with a $367 million Oaktown Re VI Ltd.

Despite still being less than four months through the year, issuance of new catastrophe bonds and other related insurance-linked securities (ILS) we track here at Artemis is already approaching $6 billion in 2021.

The litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021.

Our latest Artemis Live video interview features James Vickers, Chairman of Willis Re International, part of the global reinsurance broking unit of Willis Towers Watson, who joined us to discuss reinsurance market performance and capital trends.

Isosceles Insurance Ltd., the private insurance-linked securities (ILS) and catastrophe bond platform operated by Marsh McLennan and reinsurance broker Guy Carpenter, has issued a new $25 million Isosceles Insurance Ltd. (Series 2021-B1) transaction, the third we’ve listed from the vehicle so far.

The insurance and reinsurance industry loss estimate for damages from hailstorms that struck the Central Queensland region of Australia on April 19th 2020 has now been raised 39% to A$839 million by PERILS.

Here are the ten most popular news articles, week ending 18th April 2021, 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.

AlphaCat Managers, the insurance-linked securities and collateralised reinsurance investment management entity of insurance giant American International Group (AIG), has secured a high-profile new hire in Adam Szakmary, who will join AlphaCat as Chief Underwriting Officer (CUO).

Arch Capital Group, the global insurance and reinsurance specialist underwriter, has pre-announced an expectation of suffering up to $190 million of first-quarter catastrophe losses, the majority of which seem to be from the US winter storms, on which the company pegs an up to $16 billion industry loss estimate.

Average pricing for Japanese windstorm related reinsurance coverage reached a 25 year high at the recent April 2021 renewal season, while reinsurance buyers also sought out more limit to protect both global and Japanese domestic catastrophe exposures on a combined basis, according to Guy Carpenter.