Another new catastrophe bond launched in the last week as others reached pricing, some seeing increases in size and lowering of interest spreads offered. As always, you can read every market news story and article here on the Artemis news blog, subscribe to our weekly email newsletter updates and for your convenience here are the ten most popular news articles from the last seven days on Artemis.
Top ten most viewed articles on Artemis.bm, week ending 23rd June 2013:
- In catastrophe reinsurance, the cheaper capital will win: Aspen CEO
One of the factors that has been driving down catastrophe reinsurance rates, both in catastrophe bonds and recent traditional reinsurance renewals, is the lower cost associated with capital sourced from third-party investors.
- Alternative capacity to hit 15% of global property catastrophe reinsurance in 2013
According to reinsurance broker Guy Carpenter, alternative reinsurance capacity has grown from just 8% of the global property catastrophe reinsurance market at the end of 2008 and looks set to reach 15% by the end of this year.
- Phoenix CRetro launches to bring fresh capital to catastrophe retrocessional reinsurance
A new firm called Phoenix CRetro has launched targeting the catastrophe retrocessional reinsurance market while offering a way for institutional investors and capital providers such as re/insurers CEE, CIS and MENA to access the return of the reinsurance market.
- Stephen A. Velotti named CEO of ILS asset manager Pillar Capital
Stephen A. Velotti has been promoted to the role of Chief Executive Office (CEO) at Bermuda-based insurance-linked securities (ILS) and reinsurance-linked investment manager Pillar Capital Holdings Limited effective immediately.
- Hiscox launches Kiskadee Re collateralized reinsurance sidecar SPI
Hiscox, the Bermuda headquartered international specialist insurance and reinsurance group, has launched what looks like its most direct venture in managing third-party reinsurance capital in recent years, with a recently registered Bermuda special purpose insurance vehicle, Kiskadee Re Ltd.
- Tradewynd Re Ltd. cat bond launches to cover diverse risks for sponsor AIG
American International Group (AIG) is returning to the catastrophe bond market in search of a new source of fully-collateralized reinsurance protection for its subsidiaries and affiliates with Tradewynd Re Ltd. (Series 2013-1), according to market sources.
- Don’t put a ceiling on alternative reinsurance capacity, it’s just getting started
The size of the alternative reinsurance space, consisting of third-party backed reinsurance capacity in the form of insurance-linked securities, collateralized reinsurance, sidecars, funds and other vehicles, is becoming increasingly difficult to gauge.
- Secondary catastrophe bond market becomes more balanced in May
The month of May saw the market for secondary positions in outstanding catastrophe bonds continue to see more liquidity, as issuance of new catastrophe bonds continued to be strong throughout the month and investors used the secondary cat bond market to rebalance portfolios allowing them to participate in the new issuance.
- Argenta launches VisionRe, gives investors access to Lloyd’s insurance market
Argenta Private Capital Limited has launched a new vehicle called VisionRe Limited to offer high-net worth and institutional investors access to the Lloyd’s insurance and reinsurance market.
- Green Fields II Capital cat bond grows to €280m and prices down
French insurer Groupama’s latest catastrophe bond transaction Green Fields II Capital Ltd. (Series 2013-1) has been the recipient of strong investor demand, almost doubling in size while marketing to €280m in size.
This is by no means every article published on Artemis during the last week, just the most popular among our readers. To ensure you always stay up to date with Artemis subscribe to our weekly email newsletter update.
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