Best of Artemis, week ending 26th April 2020

Here are the ten most popular news articles, week ending 26th April 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 26th April 2020:

1. Lack of exclusions, poor wordings the Covid-19 BI threats to reinsurers & ILS
   The majority of analysts and observers do not believe that the reinsurance and insurance-linked securities (ILS) industry faces a tidal wave of business interruption claims as a result of the coronavirus pandemic.
2. ILS funds marking some positions for potential Covid-19 exposure
   A number of insurance-linked securities (ILS) fund managers have proactively marked-down some collateralised reinsurance positions, seeing a risk of potential exposure and perhaps even some losses caused by the Covid-19 pandemic.
3. Artemis Live: Interview with Frank Majors, Nephila Capital
   For the second Artemis Live audio and video interview I was delighted to speak with Frank Majors, co-CEO and President of Nephila Holdings, and a Director of insurance-linked securities (ILS) fund manager Nephila Capital.
4. Covid-19 P&C insurance industry loss estimated $40bn – $80bn: Dowling
   The property and casualty (P&C) insurance industry loss from Covid-19 pandemic related claims is estimated in a range from $40 billion to as high as $80 billion by analysts at Dowling & Partners.
5. World Bank pandemic bonds & swaps triggered, will pay out $195.84m
   The World Bank issued pandemic catastrophe bonds and pandemic risk-linked swaps have now been triggered and will pay out $195.84m, we’ve learned today, after the final trigger parameter of the growth-rate of coronavirus cases turned positive.
6. Covid-19 pandemic a “natural disaster” rules Pennsylvania Supreme Court
   The Pennsylvania Supreme Court has ruled that the Covid-19 pandemic constitutes a “natural disaster” potentially setting an unwelcome precedent for some in reinsurance and insurance-linked securities (ILS).
7. Chubb classifies Covid-19 as a catastrophe event
   Chubb, the U.S. and global primary insurance carrier and reinsurance company, is classifying the Covid-19 pandemic as a catastrophe loss event and expects it to have a meaningful impact on earnings in the second-quarter.
8. Massive Covid-19 losses likely, but forced claims could bankrupt: Industry CEO’s
   Two very senior insurance and reinsurance market leaders have warned that the sector is already facing “massive” losses from the Covid-19 coronavirus pandemic and that any forcing of business interruption claims on top of that could “bankrupt” the industry.
9. New York MTA to renew MetroCat Re parametric cat bond. Launches $100m deal
   The New York Metropolitan Transportation Authority (MTA) has returned to the catastrophe bond market for the third time, seeking to sponsor an at least $100 million renewal of its soon to mature parametric cat bond coverage with a new MetroCat Re Ltd. (Series 2020-1) transaction.
10. Cat bond market opportunities being drip-fed to manage available capital
    Opportunities to invest in catastrophe bonds are being drip-fed or staggered into the market to a degree, with efforts to prevent available capital becoming overwhelmed or drying up seemingly evident in both the secondary trading and primary issuance markets for cat bonds.

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 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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