Best of Artemis, week ending 12th April 2020

Here are the ten most popular news articles, week ending 12th April 2020, 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.

Ten most read articles on Artemis.bm, week ending 12th April 2020:

1. Market concerned on pandemic BI, expects coronavirus to firm reinsurance: Survey results
   The results are now in from our market survey that we launched recently alongside sister publication Reinsurance News asking the insurance, reinsurance and insurance-linked securities (ILS) industry for its opinion on the market implications of the Covid-19 coronavirus pandemic.
2. Arbitration rules in favour of Securis over ICAT clawback complaint
   A dispute levelled against specialist insurance-linked securities (ILS) asset manager Securis over a clawback complaint made by Paraline’s ICAT Syndicate 4242 has been ruled in favour of the ILS fund manager, as clawback never existed in the contract.
3. The “other perils” conundrum for reinsurance & ILS on coronavirus
   With the traditional reinsurance industry and insurance-linked securities (ILS) market working hard to identify any routes through which unexpected claims from the Covid-19 coronavirus pandemic could leak, it’s perhaps worth looking at one obvious area of uncertainty, the growing in prevalence “other perils” category and similarly worded contract terms.
4. Peak Re to acquire ILS manager Lutece
   Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, said this morning it has entered into a definitive agreement to acquire Bermuda-based insurance-linked securities (ILS) asset manager Lutece, which it will rename Peak Capital.
5. The recapitalisation challenge for Lloyd’s (& ILS) while Covid-19 persists
   As our sister publication Reinsurance News reported yesterday afternoon, Lloyd’s has asked its members that have been hit by sizeable losses as a result of the Covid-19 coronavirus pandemic to accelerate capital injections with the goal of stabilising the markets capital position.
6. Life ILS outlook positive despite Covid-19, says Securis’ Luca Tres
   The ongoing Covid-19 pandemic is expected to have a limited impact on the life insurance-linked securities (ILS) sector, and despite the outlook for life insurance markets being downgraded, the future looks positive for life ILS.
7. Precedents seen for some Covid-19 business interruption claims
   Plaintiff attorneys believe there are a number of legal precedents that could mean insurers end up taking more business interruption claims from the Covid-19 coronavirus pandemic than initially thought, which analysts say suggests a rising risk of the impact being greater than anticipated.
8. African Risk Capacity (ARC) to add parametric coronavirus insurance
   The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, is planning to add coronavirus protection to its planned outbreaks and epidemics parametric insurance product, which it aims to have available from 2021.
9. Pandemic BI legal action may be tempered by potential re/insurance impact: A.M. Best
   The ongoing legal action to force pandemic business interruption and shutdown claims from the Covid-19 coronavirus outbreak into property or catastrophe insurance and reinsurance programs may be tempered by an appreciation that this would significantly impact the global re/insurance market, A.M. Best believes.
10. Atlantic hurricane season forecast for 25% above normal activity by TSR
    The 2020 Atlantic hurricane season could see activity levels that are around 25% above the long-term norm, according to Tropical Storm Risk which has increased its forecast number of storms and hurricanes in its latest update.

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 26 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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