Best of Artemis, week ending 23rd May 2021

Here are the ten most popular news articles, week ending 23rd May 2021, 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.

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Ten most read articles on Artemis.bm, week ending 23rd May 2021:

1. Aon / WTW: Willis Re sale supported, as industry wants broker choice
   It seems that the carrier side of the industry is largely very supportive of the sale of Willis Re as part of the preparations for Aon’s acquisition of rival Willis Towers Watson (WTW), as it maintains choice in the reinsurance broking marketplace.
2. TWIA won’t seek extra $1bn reinsurance in 2021, but cat bond may upsize
   The Texas Windstorm Insurance Association (TWIA) remains focused on securing the planned just over $1.9 billion of reinsurance protection at its renewal this year and its Alamo Re cat  bond did upsize as expected, doubling to $500m.
3. Florida reinsurance renewal terms key, as rate expectations falter
   The upcoming June 1st reinsurance renewals in Florida are still expected to see broad rate increases of between 5% to 15%, according to our sources, but this is lower than where expectations had been sitting a few months ago.
4. Hamilton hires Howie as CFO. Ursano to depart & set-up advisory business
   Hamilton, the Bermuda based insurance and reinsurance holding company, has announced the hiring of Craig Howie from Everest Re as its new Group CFO, because incumbent Tony Ursano is set to depart to establish an insurance and insurtech advisory business.
5. $250m Aquarelle deal could be largest private cat bond ever
   A new issuance of privately placed catastrophe bond notes, named after their segregated account as Aquarelle, is likely to be, at $250 million in size, the largest private cat bond or insurance-linked securities (ILS) placement ever issued.
6. Industry-loss warranty (ILW) market softens YoY as capacity rises
   Following conversations with a number of market sources, it seems that the market for industry-loss warranty (ILW) protection has softened year-on-year, following on the heels of the catastrophe bond market as capacity turns its attention to ILW’s in the run up to the renewals.
7. RenRe raises $132m of new capital for Medici ILS and cat bond fund
   RenaissanceRe, the global reinsurer and third-party reinsurance capital manager, had raised $132 million of new capital for its largely catastrophe bond focused insurance-linked securities (ILS) fund Medici through April 1st this year.
8. ILS Asia 2021 – Registration open for our annual ILS conference for Asia
   You can now register for the sixth instalment of our annual insurance-linked securities (ILS) conference for and about the Asia region.
9. Citizens secures $950m of cat bond cover with Everglades Re 2021
   Florida’s Citizens Property Insurance Corporation has now secured its upsized $950 million target for its latest Everglades Re II Ltd. (Series 2021-1 & 2021-2) catastrophe bonds, making them the insurers second largest slice of reinsurance from the capital markets on record.
10. Fidelis set to triple new Herbie Re cat bond to $150m in size
    Specialty insurance and reinsurance company Fidelis Insurance Holdings Limited has tripled its target for its latest catastrophe bond.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. There were 36 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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