Best of Artemis, week ending 25th July 2021

Here are the ten most popular news articles, week ending 25th July 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.

Ten most read articles on Artemis.bm, week ending 25th July 2021:

1. Insured flood loss just in part of Germany said EUR 4 to 5 billion: GDV
   The German insurance association, the GDV said that it estimates insurance market losses just for flood damage in the North Rhine-West­pha­lia and Rhi­ne­land-Pala­ti­nate regions will be between EUR 4 billion and EUR 5 billion.
2. Tremor signs up all major brokers, disrupts reinsurance “for the better”
   Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has achieved a milestone in signing up all of the major reinsurance broking firms to use its platform.
3. Nephila Capital’s MGA Velocity Risk pauses new Florida homeowners business
   Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital, has paused accepting new homeowners business in Florida, citing a desire to control its rapidly grown portfolio in the State, we’ve learned.
4. European flood losses may support reinsurance renewal prices: BofA
   At EUR 5 billion or above, the loss from flooding in Europe will still be a relatively minor impact to the industry, but combined with other recent severe storm losses analysts at Bank of America believe there could be some upward pressure on pricing at the January renewals.
5. California Wildfire Fund balks at reinsurance pricing again
   For the second year running the California Wildfire Fund has shied away from buying reinsurance or any form of risk transfer, saying that current market pricing means it isn’t economically worthwhile to extend the Fund’s durability.
6. Jamaica’s cat bond priced at upsized $185m, ILS funds take 66% of notes
   Jamaica’s first catastrophe bond, the IBRD CAR 130 transaction, has now been successfully priced and the Caribbean island nation has secured the upsized target of $185 million of coverage, with pricing closer to the upper-end of guidance.
7. ILS capital recovers to $96bn, as collateralized growth returns: Aon
   Alternative reinsurance capital levels, largely from insurance-linked securities (ILS), has once again increased over the last quarter of record as reported by broker Aon, to reach $96 billion as of the end of March 2021, with collateralized reinsurance returning to growth.
8. Mercury gets $50.7m CA wildfire cat bond via Aon’s Randolph Re platform
   Mercury Insurance, a California headquartered property casualty insurer, has secured $50.7 million of California wildfire reinsurance protection through a Randolph Re (Series 2021-1) private catastrophe bond issued using Aon’s platform.
9. Cat bond market momentum could lead to record year: Aon
   Positive momentum in the catastrophe bond market could drive issuance higher and lead to a record year in 2021, according to insurance and reinsurance broker Aon.
10. China’s Henan floods: Tens of thousands of claims filed, typhoon In-Fa follows
    China’s province of Henan has been hit by what is being termed a 1-in-1000 year flood event, after a year’s worth of rainfall fell in just three days.

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 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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