Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Best of Artemis, week ending 8th January 2012


It’s been a busy first week of 2012 for us and the market news has begun to flow already. Here’s your Monday morning chance to catch up on the top news you may have missed over the last seven days. During the last week we’ve published a number of articles which offer a look back at the progress made in the cat bond market during 2011. We’ve also seen news of another potential state backed insurer cat bond (this time from Citizens), increased losses facing Crystal Credit investors and the launch of Third Point Re.

Top ten most viewed articles on, week ending 8th January 2012:

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  1. The catastrophe bond and insurance-linked security transactions issued during 2011
    Here’s an easy to digest list of all of the cat bonds and ILS transactions which we covered on Artemis during 2011 with links to our Deal Directory for further details on each deal.
  2. Third Point Re to launch with more than $750m in capital
    Hedge fund backed start-up reinsurer Third Point Re has closed its fundraising with over $750m in capital just before the New Year. It’s assumed that they will have been just in time to put some of that capital to work in the recent renewals.
  3. Citizens to turn to catastrophe bonds as part of risk reduction plan
    State backed Florida property insurer Citizens is looking to increase its use of the private risk transfer markets during 2012 with more budget set aside for reinsurance cover and $250m set aside for alternative risk transfer which could involve a cat bond.
  4. Zenkyoren loss creep makes Muteki loss seem small by comparison
    The increasing losses faced by Japanese cooperative insurer Zenkyoren overshadow the $300m loss of the Muteki cat bond from the Japanese earthquake and tsunami in March 2011.
  5. Catastrophe bond risk capital outstanding increases in 2011
    For the first time in four years the amount of catastrophe bond risk capital outstanding increased at the end of 2011. It was only a small upturn but 2011 also saw a lot of maturities. 2012 has less scheduled cat bond maturities so it’s hoped the market can continue an upward growth trend this year.
  6. Life returning to the life insurance securitization market, says Swiss Re
    Swiss Re are positive on the outlook for life insurance securitization after the Vecta I Ltd. embedded value transaction completed successfully in December.
  7. What volume of catastrophe bonds do you think will be issued in 2012?
    Our annual poll asking our readers how much cat bond and ILS issuance they think there will be over the coming year. Please take part by visiting this article and registering your vote.
  8. Crystal Credit investors confirmed to be facing losses
    Investors in the beleaguered Crystal Credit cat bond type securitization are facing increasing losses.
  9. 2011 in figures for Artemis
    Our look back at 2011 for Artemis, the most popular stories of the year and some key figures showing our growth and the size of our audience (the largest of its kind on the internet).
  10. Catastrophe bond issuance by quarter
    A breakdown of cat bond issuance by quarter over the last few years which shows that 2011 was a more balanced year than you might have thought, given the various market slowing issues that were faced.
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