Best of Artemis, week ending 5th July 2020

Here are the ten most popular news articles, week ending 5th July 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 5th July 2020:

1. Integral ILS to launch with Lowther & Zeng at helm, AmWINS & TransRe in support
   Integral ILS Ltd. has been launched as a new Bermuda based insurance-linked securities fund manager by industry execs Richard Lowther and Lixin Zeng, with ties to global insurance distributor and servicer AmWINS and reinsurance firm TransRe.
2. Solid issuance as catastrophe bond market performs in time of crisis: Q2 2020 Report
   The market for catastrophe bonds and related insurance-linked securities (ILS) once again demonstrated its resilience in the second-quarter of 2020, as despite the uncertain environment created by Covid-19, issuance of new cat bonds and ILS reached $3.76 billion according to the latest report and data from Artemis.
3. Aon ends salary cuts, says Covid-19 downside “less significant than anticipated”
   Insurance and reinsurance broker Aon has elected to end the staff salary reductions it had introduced back in April, saying that “the overall macroeconomic uncertainty and downside are somewhat less significant than anticipated.”
4. Convex enters cat bond market with $150m Hypatia multi-peril deal
   Convex Group, the specialty insurance and reinsurance company founded by Stephen Catlin, is sponsoring its first catastrophe bond transaction, bringing a $150 million Hypatia Ltd. (Series 2020-1) multi-peril retro transaction to market.
5. Covid-19 losses to take years to catch up to industry estimates: Willis Re
   Currently, bottom-up Covid-19 pandemic loss announcements from insurance and reinsurance companies stand at only around $6 billion, some way short of the wide ranging $30 billion to $100 billion industry loss estimates and broker Willis Re warns it will likely take years to catch up which has ramifications for the ILS market.
6. Lloyd’s pitches pandemic/systemic risk solutions, with capital markets support
   Lloyd’s of London, the specialist insurance and reinsurance marketplace, has this morning pitched three possible solutions to pandemic and systemic risk insurance provision, as it seeks to bring constructive discussion to the issues of insurability of pandemic risk exposure and other major systemic risks.
7. Arch secures first mortgage ILS of Covid-19 era, Capsicum Re assists on reinsurance
   Arch Capital Group, the Bermuda headquartered specialist insurance and reinsurance carrier, has successfully secured $528 million of mortgage reinsurance through the completion of the first mortgage ILS deal of the Covid-19 era and by securing additional reinsurance with the assistance of broker Capsicum Re.
8. Munich Re provides £1bn longevity swap for Willis Pension Scheme
   Global reinsurance giant Munich Re has completed a £1 billion longevity swap arrangement for the Willis Pension Scheme, in a longevity hedging deal that covers some 3,500 pension scheme members.
9. Climate insurance-linked securities (ILS) opportunity seen for London
   A forum co-chaired by UK regulator the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) calls for the development of a market for climate-related insurance-linked securities (ILS) in London.
10. U.S. renewals lead way in “persistent” July reinsurance hardening: Willis Re
    U.S. treaty reinsurance business led the way on rate increases at the July 1st reinsurance renewals, with their rates outpacing international contracts, according to broker Willis Re.

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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