Archive for July, 2023

Catastrophe bond funds in the UCITS format experienced a very strong end to the first-half of 2023, with June seeing them deliver an average return of almost 1.9%, which took the H1 2023 average UCITS cat bond fund performance to almost 8.2%.

Vesttoo, the insurance-linked securities (ILS) focused insurtech, has an investment grade ILS deal in the market, Artemis has learned, with circa $109 million of ‘BBB’ rated Vesttoo Bermudian Bay Ltd. (Vescor Series 2023-1) notes on offer that are linked to the performance of a risk pool featuring non-cat largely casualty risks.

Saying that warm sea surface temperatures in the tropical Atlantic will counteract the increased vertical wind shear and stronger trade winds that occur under El Niño conditions, forecast group Tropical Storm Risk (TSR) has now raised its forecast for the 2023 Atlantic hurricane season.

Here are the ten most popular news articles, week ending July 9th 2023, 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.

Thanks to a very strong first-half of investment returns from the catastrophe bond market, the Swiss Re cat bond Index, probably the most widely used benchmark in the insurance-linked securities (ILS) space, has delivered a record performance for any half-year on record.

Colorado State University’s tropical meteorology team led by Phil Klotzbach is anticipating a more active 2023 Atlantic hurricane season, with its latest update increasing the number of hurricanes it predicts by 2, with 1 of those expected to become a major hurricane.

Strong growth in catastrophe bond and insurance-linked securities (ILS) assets thanks to successful capital raising efforts sees Fermat Capital Management now fast-approaching the landmark $10 billion in AUM.

Australian primary insurance giant Insurance Australia Group (IAG) has announced the renewal of its aggregate catastrophe reinsurance cover at more stringent terms, with less protection secured and at a higher attachment point for the second year running.

Plenum Investments, the Zurich based specialist catastrophe bond and insurance-linked securities (ILS) investment manager, has surpassed US $1 billion of assets under management for the first time, with its catastrophe bond strategies benefiting from investor demand.

Re2, a climate risk transfer specialist located in Bermuda operated by alumni of ILS manager Nephila Capital, has announced the completion of a first of its kind Battery Revenue Swap for a Blackrock fund portfolio energy company.