Best of Artemis, week ending 14th February 2016

Here are the ten most popular news articles, week ending 14th February 2016, 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.

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Top ten most viewed articles on Artemis.bm, week ending 14th February 2016:

1. MultiCat Mexico 2012 Class C cat bond notes officially a 50% loss
   It is now official, investors in the $100m tranche of MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes are facing a 50% loss of principal after calculation agent AIR Worldwide delivered its final report on the matter.

2. Nationwide Mutual back with new $225m Caelus Re IV cat bond
   U.S. insurer Nationwide Mutual is returning to the catastrophe bond market for the first time in almost three years, as it seeks to sponsor a $225m Caelus Re IV Ltd. (Series 2016-1) U.S. multi-peril cat bond to secure collateralised capital markets backed reinsurance capacity.

3. Schroders launches new ILS fund to target U.S. and Canadian investors
   Asset manager Schroders has expanded its reach in the insurance and reinsurance linked investments (ILS) space to enable it to directly target U.S. and Canadian investors by launching a new Cayman Islands domiciled fund vehicle.

4. XL Catlin & Ventus partner to bring collateralized capacity to SME’s
   Insurance and reinsurance group XL Catlin and Ventus Risk Management, a recently formed Managing General Underwriter, are partnering to bring commercial property insurance to small and mid-sized enterprises with backing from collateralized reinsurance funds.

5. Reasons to be cheerful, as cedents look to reinsurance capital support
   After a number of renewals where the world’s insurance companies have been carefully managing their retentions, increasing them in many cases, there are signs and reasons to be more cheerful as reinsurance capital is once again rising up the agenda.

6. Hannover Re ups K-Cession & whole account retro for 2016
   Reinsurer Hannover Re increased the size of its K-Cession quota share reinsurance and whole account excess of loss transactions for 2016 by $150m, reflecting the availability of attractively priced capital for retrocession.

7. Big reinsurers: Some reinsurance lines no longer meeting cost-of-capital
   Some reinsurance lines are no longer meeting cost-of-capital for the world’s largest reinsurers, which sees the firms often writing business at levels which are technically unprofitable as they subsidise some risks as diversifiers.

8. Aeolus distributions to Allied World increase, but commitment to shrink
   Distributions from its relationship with reinsurance linked investment and insurance linked securities (ILS) manager Aeolus Capital Management Ltd. have again bulked up Allied World’s operating cash flow, but the re/insurer is set to reduce its commitment to the partnership in 2015.

9. Hiscox’s Kiskadee adds capital, ILS assets more than double to $850m
   Kiskadee Investment Managers, the insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit of Hiscox Re, has more than doubled its assets under management during 2015 to near $850m of ILS assets managed at the January renewals.

10. Endurance in multi-year wind hedge with Meridian Energy Australia
    Endurance Global Weather, a weather hedging and weather risk management focused unit of Bermudian specialty P&C insurance and reinsurance firm Endurance Specialty Holdings Ltd., has completed a multi-year wind hedge transaction with Meridian Energy Australia.

This is by no means every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 33 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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Artemis’ Q4 2015 Catastrophe Bond & ILS Market Report – Outright market growth continues

We’ve now published our Q4 2015 catastrophe bond & ILS market report.

This report reviews the catastrophe bond and insurance-linked securities (ILS) market at the end of the fourth-quarter of 2015, looking at the $1.525 billion of new risk capital issued and the composition of the cat bond & ILS transactions completed during Q4 2015. The report also includes a review of the full year 2015 issuance and commentary from co-editor GC Securities.

Download your copy here.