Archive for October, 2023

Slide Insurance Company has stepped up to support Florida homeowners, acquiring the renewal rights to policies that had been underwritten by Farmers Insurance® in the state.

French mutual insurer Covéa Group is back in the catastrophe bond market with its fourth catastrophe bond deal, seeking €100 million or greater in fully-collateralized windstorm reinsurance protection from the capital markets with this Hexagon IV Re Ltd. (Series 2023-1) issuance.

Here are the ten most popular news articles, week ending October 15th 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.

Speaking at the Convergence event in Bermuda today, Adrian Jones, a former partner at HSCM Ventures, the venture capital business affiliated with Hudson Structured Capital Management, highlighted the artificial intelligence opportunity for the insurance-linked securities (ILS) industry, but also cautioned the ILS sector to take care with data.

US insurance giant Progressive has now begun to record reinsurance recoveries under its aggregate catastrophe reinsurance arrangements, as the company had forecast was likely to occur.

It’s become apparent that PGGM, the Dutch pension fund investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, added a new ILS manager to its allocation list in 2022, with an investment into a fund managed by Integral ILS.

Although there are investors waiting on the side-lines of the insurance-linked securities (ILS) market with an interest in responsible transactions, there’s still a need for a minimum return which outweighs the importance of liquidity and diversification, according to industry experts.

This video features another panel discussion from our Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, a session focused on public sector and sovereign risk transfer schemes and the use of catastrophe bonds and capital markets capacity.

Speaking at the Convergence 2023 event in Bermuda yesterday, John Seo, Co-Founder & Managing Director at Fermat Capital Management, explained that there is significant investor interest in insurance-linked securities (ILS) right now, but when it comes to allocating, capital is slower moving these days.

Analysts at JMP Securities say they are expecting reinsurance pricing will be flat to slightly up at the January 2024 renewal season, with reinsurers expected to push for rate to keep pace with inflationary costs, but a chance that some appetite returns for lower-layers if the price is right.