Best of Artemis, week ending 22nd March 2020

Here are the ten most popular news articles, week ending 22nd March 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 22nd March 2020:

1. No coronavirus contagion for the catastrophe bond market: Seo
   It’s business as usual in the catastrophe bond market despite the global crisis of the Covid-19 coronavirus outbreak, according to John Seo, Co-Founder and Managing Director of Fermat Capital Management.
2. Time for reinsurance & ILS to embrace electronic trading & transfer of risks
   As the reinsurance and insurance-linked securities (ILS) community adapts to full remote operations and working from home, this industry that has thrived on face-to-face contact now needs to rapidly embrace the electronic trading and risk transfer tools that are available to it.
3. ILS funds face deluge of investor queries due to coronavirus outbreak
   At this time of global uncertainty due to the Covid-19 coronavirus outbreak the insurance-linked securities (ILS) fund market is facing a rising demand for investor relations support, as the institutions backing the market, plus those looking at it for potential deployment, ramp up their queries and requests for information.
4. MultiStrat acquired by Canopius
   Multi-Strat Holdings Ltd., the Bermuda based holding company that underwrites casualty and longer-tailed reinsurance and arranges casualty insurance-linked securities (ILS) transactions, has been acquired by Canopius Group Limited.
5. Typhoon Hagibis loss development better than feared: Analysts
   According to analysts, loss development from last year’s Japanese typhoon Hagibis is not following the same path as 2018’s Jebi, with the current prognosis being that development is much better than feared.
6. United (UPC)’s Armor Re II 2020 cat bond pulled on lack of support
   We’re told that the latest catastrophe bond from United Insurance Holdings (UPC Insurance) Armor Re II Ltd. (Series 2020-1) has failed to get sufficient investor support, so was pulled from the market and now won’t be issued.
7. SCOR returns to Ireland for new $200m+ Atlas Capital 2020 cat bond
   France headquartered global reinsurance company SCOR has returned to the capital markets to sponsor a new catastrophe bond, Atlas Capital Reinsurance 2020 DAC (Series 2020-1), in search of an expanded insurance-linked securities (ILS) backed source of retrocessional reinsurance protection.
8. BMA responds to coronavirus: allows later filings, virtual board meetings
   The Bermuda Monetary Authority (BMA) is making allowances for insurance, reinsurance and insurance-linked securities (ILS) company filings to be a little later and for physical board meetings on the island to not be required, in response to the Covid-19 coronavirus outbreak.
9. Cat bond liquidity evident, as trading rises on Covid-19 volatility
   The catastrophe bond market is once again demonstrating its financial liquidity, as secondary trading volumes have risen driven by certain investors looking to sell their positions at a time when volatility in the broader financial markets is extremely high due to the coronavirus pandemic.
10. Automatic extensions of in-force contracts due to coronavirus not feasible for ILS market: Lohmann, Schroders
    Broker Willis Re has requested markets, both traditional and ILS providers of reinsurance and retrocession, consider offering automatic extensions of in-force contracts  by two months at the cedent’s discretion due to possible delays caused by the coronavirus to smooth the renewal process, but this is something that capital markets collateralised players would find particularly challenging.

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 30 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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