Best of Artemis, week ending 8th July 2012


The last week has seen a diverse mix of news stories on Artemis as we covered new catastrophe bonds, the flow of investor capital into the reinsurance sector, longevity risk in Japan, discuss flood cat bonds again, look at regulatory issues and highlight some ILS funds shutting to new investors. Here are the ten most popular articles from the last seven days on Artemis.

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

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  1. Marked increase in flow of capital into non-traditional vehicles and catastrophe bonds
    Reinsurance broker Willis Re, the reinsurance arm of Willis Group Holdings, has published its 1st View mid-year renewals report which looks at the 1st June and 1st July reinsurance renewal periods and comments on findings on rate movements, availability of coverage and conditions in both the traditional reinsurance market and non-traditional capital markets backed convergence reinsurance segments.
  2. Sarasin Cat Bond Fund becomes second ILS fund to restrict subscriptions
    A second insurance-linked securities investment fund with a focus on catastrophe bonds as its assets has restricted new subscriptions in the last week due to a lack of primary market cat bond issuance.
  3. $2.118 billion catastrophe bond issuance in Q2, year to date hits $3.61 billion
    We’re now into July and so can report on the volume of catastrophe bonds that were issued during the second quarter of 2012. After a record Q1 the second quarter, while not hitting record levels, has reached a very healthy $2.118 billion of new catastrophe bond issuance according to transactions recorded in our Deal Directory.
  4. NFIP extension could see more U.S. flood risk move to private reinsurance markets
    Just over a week ago, the two U.S. houses of Congress passed a bill which will see the National Flood Insurance Program (NFIP) officially extended for another five years with some reforms enacted to it as well.
  5. Have catastrophe bonds become competition for traditional reinsurance?
    The risk transfer provided by a catastrophe bond or insurance-linked security transaction can be looked at as a form of insurance or reinsurance depending on who the issuer or sponsor is. But have we now reached a tipping point where cat bonds and ILS are in competition with more traditional sources of reinsurance?
  6. Guernsey, a leader in captives and protected cells, targets insurance-linked securities
    Guernsey, one of the Channel Islands which sits in the English Channel south of the UK and close to France, is one of the world’s leading locations for licensing and domicile of international insurance entities. The island is seeing strong growth in those numbers and has identified an opportunity to grow further with insurance-linked securities.
  7. U.S. Treasury requests comments on global reinsurance market
    As part of the Dodd-Frank Act the U.S. Treasury are required to provide a report to Congress on the breadth and scope of the global reinsurance market and the critical role reinsurance plays in supporting the provision of insurance in the United States. The Federal Insurance Office have issued a request for comment giving the reinsurance industry and any interested parties the chance to have their voice heard.
  8. GAM to operate waiting list on subscriptions to catastrophe bond fund
    Investment manager GAM have announced that they are going to be operating a waiting list on new subscriptions to their GAM Star Cat Bond fund due to capacity constraints in the sector.
  9. Munich Re brings Queen Street VI Re Ltd. catastrophe bond to market
    Just when we thought the primary market for catastrophe bond and insurance-linked securities issuance was getting quiet a transaction comes along in the form of reinsurer Munich Re’s latest Queen Street deal. Queen Street VI Re Ltd. has just begun marketing.
  10. Japanese pension funds need to begin hedging longevity risk
    The largest public pension fund in the world, Japan’s Government Pension Investment Fund (GPIF), is becoming a perfect example of the need for Japan to adopt longevity risk management and longevity hedging strategies urgently in order to be able to meet their growing liabilities.
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