Best of Artemis, week ending 8th March 2020

Here are the ten most popular news articles, week ending 8th March 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 8th March 2020:

1. Catastrophe bond & ILS issuance on track to break Q1 record
   Catastrophe bond and insurance-linked securities (ILS) issuance is on course to break all records in the first-quarter of 2020, with a huge $3.93 billion of catastrophe risk-focused deals helping overall cat bond and related ILS issuance exceed $5 billion for the first time, according to Artemis’ data.
2. PGGM adds private quota share with Swiss Re through Viaduct Re Ltd.
   PGGM, the Dutch pension fund administrator and investment manager that has become the largest single source of assets in the insurance-linked securities (ILS) market, added a private quota share arrangement with reinsurance giant Swiss Re in 2019, using a special purpose insurer (SPI) named Viaduct Re Ltd.
3. World Bank President Malpass notes PEF pandemic bonds could pay out
   The President of the World Bank Group David Malpass has highlighted the importance of financial preparation for pandemic emergencies, of the kind provided by the Pandemic Emergency Financing Facility (PEF), which is backed by insurance including the now much-discussed World Bank issued pandemic catastrophe bonds.
4. ILS funds could see some Coronavirus contingency claims leakage: von Herberstein
   The insurance-linked securities (ILS) fund market does hold some exposure to contingency related risks, including from event related exposures, which means there is a chance of some claims leaking to ILS funds from coronavirus triggered claims, Hudson Structured partner Edouard von Herberstein said.
5. Nashville, Tennessee tornado property damage to exceed $1bn: Corelogic
   Risk modelling firm Corelogic said that the tornado outbreak that struck the Nashville, Tennessee area on March 3rd are likely to cause $1 billion or more of property damage once the impact is fully assessed.
6. ILS funds face challenge to accurately value PG&E settlement: KPMG
   Insurance-linked securities (ILS) fund managers, as well as other managers of third-party capitalised reinsurance and retrocesion vehicles, face a particularly significant challenge when it comes to accurately valuing the PG&E wildfire related subrogation settlement in their funds, the actuarial team at KPMG highlighted.
7. Arch Capital sponsors $76.5m Voussoir Re 2020-1 sidecar SPI issuance
   Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist, has sponsored a new $76.5 million sidecar issuance through the special purpose insurer Voussoir Re Ltd., we understand.
8. Reinsurance rates set to rise 50% in Japan, 20% in Florida: Analysts
   Reinsurance renewals are expected to see significant increases in pricing in both April and June, but the biggest increases are expected to be in Japan, while Florida is likely to rise more than in recent years, but still at a slower pace.
9. PartnerRe sale to Covéa agreed at $9bn by Exor
   An agreement on the sale of PartnerRe has been reached between EXOR, the Agnelli family owned holding company investor, and French insurance group Covéa.
10. White Mountains adds $10m to Elementum ILS fund allocation for 2020
    White Mountains Insurance Group made good on its promise to allocate up to $50 million of capital into ILS funds under the management of Elementum Advisors, LLC, the insurance and reinsurance linked asset manager in which it acquired a 30% stake in 2019.

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 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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