Best of Artemis, week ending 25th November 2018

Here are the ten most popular news articles, week ending 25th November 2018, 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.

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Ten most viewed articles on Artemis.bm, week ending 25th November 2018:

1. Red Cross aims to sponsor first pure volcano cat bond
   International humanitarian movement the Red Cross is looking to the capital markets and the potential issuance of a parametric catastrophe bond to protect against volcanic risks, according to Adam Bornstein.

2. California wildfires to cost over $10 billion “if not much more” – Aon
   The latest outbreak of California wildfires have now burned their way through more than 20,000 residential or commercial properties and minor structures and this is expected to result in economic losses of above $10 billion, if not much higher, according to broker Aon, with the majority expected to be insured.

3. Aon seeks to cover the intangible with parametric NDBI product
   Insurance and reinsurance broker Aon aims to help corporates cover the intangible, with the launch of a new Non-Damage Business Interruption (NDBI) product that can utilise parametric indices, promising to respond to the evolution of business models and what matters most to globally active corporations.

4. AXA XL takes 100% ownership of New Ocean Capital Management
   Insurance and reinsurance firm AXA XL has acquired all third-party ownership interests in its already majority-owned insurance-linked securities (ILS) asset management affiliate, New Ocean Capital Management Limited.

5. Cat bond funds take NAV hit on wildfire cat bond write-down
   Catastrophe bond fund managers have been marking down their holdings in Pacific Gas & Electric Co’s (PG&E) $200m Cal Phoenix Re Ltd. (Series 2018-1) cat bond on the expectation that it could face a total loss of the utility is found liable for the Camp wildfire in California.

6. Swiss Re sees $500bn global property & mortality protection gap opportunity
   Global reinsurance firm Swiss Re has newly identified an enormous $500 billion global property (catastrophe and non-catastrophe) and mortality risks protection gap, saying that this is an opportunity for insurance and reinsurance markets to boost global resilience.

7. Reynolds exits JLT Re. Howard now CEO & to be Guy Carpenter Vice Chairman
   The Chief Executive Officer of reinsurance broker JLT Re has departed the firm, leaving a gap which has been filled by Ross Howard, Chairman of the firm, who has also been lined up to become Vice Chairman of Guy Carpenter, once the JLT acquisition by Marsh & McLennan (MMC) has been completed.

8. Markel CATCo reserves for Michael & Jebi, warns on wildfires & loss creep
   Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment specialist, has set reserves for expected impacts from hurricane Michael and typhoon Jebi for its stock exchange listed CATCo Reinsurance Opportunities Fund, while also warning of exposure to the California wildfires and continued loss creep from 2017 events as well.

9. Jebi officially the largest Japan typhoon insured loss ever
   Typhoon Jebi has now officially become the largest Japan typhoon related insurance and reinsurance market loss on record, as the amount of insured claims paid for the storm have now reached almost $5.2 billion.

10. Wind & water disaster payouts hit record level for Japanese insurers
    The major Japanese insurance firms are set to payout record levels of claims following wind and water related natural disasters in the country in 2018, with as much as $8.8 billion of losses expected just for the top three firms.

This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 31 new articles published in the last week. To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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