Best of Artemis, week ending 5th November 2017

Here are the ten most popular news articles, week ending 5th November 2017, 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.

Ten most viewed articles on Artemis.bm, week ending 5th November 2017:

1. $9 billion of collateralised retro estimated blown or trapped
   Of the $29 billion of total retrocessional reinsurance capacity tracked by broker Aon, an estimated $9 billion, or 31% is collateralised and either completely blown or trapped as a result of recent catastrophe events, according to Robert Bisset, Chief Executive Officer (CEO) of Global Re Specialty, Aon Benfield.

2. January reinsurance renewals set to be extremely competitive
   Reinsurance firms and ILS funds looking to make the most of any increase in rates at the forthcoming January renewal season are likely to make this one of the most competitive in years, which could ultimately mean that price rises are even more short-lived than currently expected.

3. Resilience Economics launched by Cedent with $500m of Nephila capacity
   Resilience Economics Ltd. has been launched today by Cedent Ltd., as a new corporate finance advisory specialist focused on climate risk solutions, with an initial $500 million of capacity backing provided by strategic partner Nephila Capital Ltd.

4. Markel CATCo raises over $1.8bn to meet renewal demand
   Markel CATCo Investment Management Ltd., the collateralized reinsurance and retrocessional investment fund manager, has raised over $1.8 billion of new capital from investors to ensure continuity for its ceding clients and meet renewal demand for its products.

5. Tangency Capital founded by Morgenstern, Hagedorn & Jedraszak
   Tangency Capital Ltd. is a new insurance-linked securities (ILS) start-up venture that has been founded by three experienced ILS and reinsurance convergence focused executives and will focus on helping its investors to access opportunities in insurance and reinsurance, from offices in Bermuda and London.

6. Singapore to fund cat bond issuance costs, to develop ILS market
   Singapore has ramped up its focus on developing an insurance-linked securities (ILS) market, taken the radical step of offering an ILS grant that will fund 100% of the upfront costs incurred in issuing catastrophe bonds in the country and setting up a working group to explore opportunities for the country in ILS.

7. Heritage reveals hurricane Irma loss, may hit Citrus Re cat bonds
   Florida focused property and casualty insurer Heritage Insurance Holdings, Inc. has revealed a $388 million gross loss from the impact of hurricane Irma, which looks high enough to eat into the bottom of its catastrophe bond protection, likely triggering two tranches of its Citrus Re cat bonds.

8. Aspen eyes further growth of Silverton Re sidecar in 2018
   Insurer and reinsurer Aspen Insurance Holdings plans to grow the size of its Bermuda-based collateralized reinsurance sidecar, Silverton Re, so long as pricing in the global P&C industry reacts to recent catastrophe losses as the firm anticipates.

9. CEA brings $400m Ursa Re 2017-2 California quake cat bond to market
   The California Earthquake Authority (CEA) is returning to the catastrophe bond market once again with a $400 million Ursa Re Ltd. (Series 2017-2) transaction, which will be its fifth cat bond using the Ursa Re vehicle and its ninth where we have the CEA listed as sponsor in our Deal Directory.

10. Mercury MiCRIX reflects ILW market losses from Harvey & Irma
    The impacts of recent hurricanes is evident in the latest returns of the Mercury investible Catastrophe Risk Index (or MiCRIX for short), an index that tracks the performance of a diversified portfolio of peak peril ILW’s.

This is by no means every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 31 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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