Archive for April, 2022

During a recent trip to visit companies in the Bermuda insurance and reinsurance market, analysts at JMP Securities came away feeling there is an almost universal confidence in hard market conditions persisting.

The industry loss to insurance and reinsurance markets from Australia’s recent severe flooding and storms is estimated to have reached AU $2.43 billion, by the Insurance Council, but flood impacts continue in the last few days.

Two tranches of privately placed catastrophe bond notes from the $250 million Artex SAC Limited – Aquarelle Notes transaction that came to market in 2021 and was thought to be the largest private cat bond ever, have been through a variable reset process at the request of the ceding insurer.

Here are the ten most popular news articles, week ending April 10th 2022, 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.

On the heels of a record year for property catastrophe bond issuance, momentum continued in the first quarter of 2022 as sponsors brought approximately $3 billion of traditional 144a transactions to market.

The United States Department of Treasury’s Federal Insurance Office (FIO) is seeking industry input and feedback on how available reinsurance and retrocession support from the capital markets may be for terrorism related risks.

The new Citrus Re Ltd. (Series 2022-1) catastrophe bond transaction sponsored by Florida headquartered but nationally expansive property and casualty insurer Heritage Insurance Holdings, Inc. has seen its price guidance raised to above the initial range, Artemis can report.

The 2022 Atlantic hurricane season is expected to see above-normal levels of activity according to a number of early forecasts, which also suggest an elevated level of landfall risk for the coming United States wind season.

With catastrophe bond spreads having widened in recent weeks due to market dynamics and interest rates forecast to rise, it’s currently possible that a catastrophe bond fund investment could yield as much as 8% to 9% next year.

The United Nations Development Programme (UNDP) has announced a partnership on parametric insurance development for the most vulnerable with global insurer and asset management group Generali this morning.