Best of Artemis, week ending 13th December 2020

Here are the ten most popular news articles, week ending 13th December 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 13th December 2020:

1. January 2021 reinsurance renewals: Less firm than forecast?
   It appears we’re heading quickly towards a familiar reinsurance renewals story, where the ambition to capitalise on rate increases and subsequent inflows of capacity are now serving to ramp up competition.
2. Credit Suisse ILS’ reinsurers Kelvin Re & Humboldt Re to stop writing
   The two Guernsey domiciled, rated reinsurance carriers managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team, Kelvin Re and Humboldt Re, are not renewing any business this January and will stop writing.
3. ESG survey finds gap between its perceived importance & actual practice
   While the recent survey we conducted alongside Synpulse, looking at the adoption of environmental, social, and governance (ESG) practices in the risk transfer, reinsurance and insurance-linked securities (ILS) markets, found that ESG is perceived as very important, there is an evident gap between perception and actual practice.
4. Leadenhall Capital Partners hires new Portfolio Manager
   London headquartered insurance-linked securities (ILS) and reinsurance related investments manger Leadenhall Capital Partners LLP has added a new Portfolio Manager hire, employing Lionel Daniele who has more than fifteen years’ experience in investment banking and trading.
5. Reinsurance capital raises could reach $22bn in 2020: Willis Re
   Improved reinsurance market pricing is attracting significant sums of capital, with the latest estimate from broker Willis Re being that $19 billion has already been raised since the COVID-19 pandemic broke out and another $3 billion of capital raises are underway.
6. First parametric wildfire cat bond Power Protective Re prices up 9%
   The first ever parametric solely wildfire exposed catastrophe bond to hit the market, the $50 million Power Protective Re Ltd. (Series 2020-1)  transaction being sponsored on behalf of a municipal water utility operating in the Los Angeles area, has seen its pricing move up by around 9% before it closed.
7. Munich Re expects rate hardening to persist “despite alternative capital”
   Global reinsurance giant Munich Re laid out ambitious plans for continued growth in property and casualty reinsurance, saying that it expects rate hardening will continue for at least a couple of years, “despite alternative capital” which the company clearly sees as a threat to market fundamentals.
8. Brit upsizes first Sussex Capital UK catastrophe bond to $300m
   Specialty insurance and reinsurance player Brit Ltd. is the latest to target an upsizing of its first catastrophe bond issuance, as the firms Sussex Capital UK PCC Limited (Series 2020-1) transaction now has an increased target size of $300 million.
9. Lockton Re integrates Tremor’s marketplace tech for reinsurance placement
   Lockton Re, the reinsurance business of the privately held independent global broking giant, has integrated reinsurance marketplace functionality from Tremor Technologies as part of its client offering.
10. New PFIC regs active conduct test excludes ILS funds & structures
    A new set of guidance on the treatment of passive foreign investment companies (PFICs) published at the end of last week by the U.S. Internal Revenue Service and Department of the Treasury has been modified so that the active conduct test excludes insurance-linked securities (ILS) funds, as well as other ILS and reinsurance securitization structures.

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 34 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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