Archive for May, 2024

This video features an expert panel discussing cyber catastrophe bond market trends at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024.

French global reinsurance company SCOR has now successfully upsized its latest catastrophe bond by 40% to secure $175 million of retrocession from the Atlas Capital DAC (Series 2024-1) deal, while the pricing settled just above initial guidance, showing the risk adjustments made appear to have had the desired effect.

Having only launched its business at the beginning of this year, Icosa Investments, the Swiss catastrophe bond focused investment manager launched by co-founders the former Twelve Capital executive Florian Steiger and Swiss financial services and capital markets specialist Jordan Nickerson, has already surpassed $100 million in assets.

In a string of research reports, the World Bank Group and European Commission call on governments across Europe to utilise more in the way of disaster risk transfer and insurance to reduce the pressure from weather and natural perils on budgets, including the use of catastrophe bonds to access capital market investors for reinsurance risk […]

The US weather service NOAA and the UK’s Met Office have both issued forecasts that join others in suggesting the 2024 Atlantic hurricane season will be a very active one, with each opting for storm numbers well above the average and NOAA saying it looks likely to be an “extraordinary” year.

Despite the slowdown in the collateralised reinsurance marketplace in recent years, global reinsurer Hannover Re continues to place more limit on behalf of investor and ILS fund partners, growing this segment of its business again in full-year 2023.

Private investment firm Gallatin Point Capital LLC is persisting with a $150 million target for Florida hurricane protection from its debut Marlon Ltd. (Series 2024-1) catastrophe bond issuance, but the pricing has been raised for both of the tranches of notes on offer, Artemis has learned.

With catastrophe reinsurance pricing expected to be largely flat to slightly down at the upcoming June 1st reinsurance renewals and little change expected to terms and attachments, analysts from KBW said the industry can expect “slightly less-excellent” returns ahead, implying still-strong expected underwriting profitability.

Nascent Group, an insurance management and reinsurance transformer company launched by Andre Perez to reimagine the insurance-linked securities (ILS) servicing space, has made two key hires, bringing former Horseshoe and Artex expertise back together, with Yulanda Francis and Shehan Ranasinghe joining the firm.

Artemis has learned that French reinsurance company SCOR has adjusted some terms of its new Atlas Capital DAC (Series 2024-1) catastrophe bond issuance, as the company has reduced the risk somewhat in an effort to manage pricing, while also lifting the target size to $175 million.