Best of Artemis, week ending April 10th 2022

Here are the ten most popular news articles, week ending April 10th 2022, 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 April 10th 2022:

1. Florida renewal “one of the toughest in recent memory” – JMP Securities
   The upcoming June 2022 Florida reinsurance renewals are likely to be one of the toughest in recent memory, as the availability and affordability of lower layer reinsurance dries up, leaving any carrier with capital issues in a challenging position.
2. RenRe launches $475m casualty & specialty lines JV Fontana Holdings
   RenaissanceRe Holdings Ltd. (RenRe) has created its first third-party reinsurance capital backed joint venture focused on casualty and specialty risk, Fontana Holdings L.P., which launches with $475 million of capital, most of which comes from institutional investors.
3. Swiss Re scales alternative capital & ILS towards $100m annual fee income
   Swiss Re gave some insights into its growing Alternative Capital Partners business this morning, explaining that the annual fee income earned from alternative reinsurance capital activities and insurance-linked securities (ILS) management is on track for US $100 million.
4. Catastrophe bond market hits new high on busy start to 2022: Report
   The outstanding market for catastrophe bonds and related insurance-linked securities (ILS) reached a new all-time high at the end of the first-quarter of 2022, as a busy start to the year took Artemis’ measure of the sector to $37.5 billion.
5. Insurtech-focused UK SPAC targets £150m IPO. Aeolus’ Aditya Dutt part of sponsor team
   Financial Acquisition Corp, a new special purpose acquisition company (SPAC) sponsored by FINSAC LLC which plans to raise £150 million through its listing on the London Stock Exchange (LSE), has named experienced ILS practitioner, Aditya Dutt, as part of the sponsor team of the vehicle.
6. Safepoint’s new Manatee Re II cat bond issuance cancelled
   Sources have told us that the new Manatee Re II Ltd. (Series 2022-1) catastrophe bond that was designed to secure U.S. primary insurer Safepoint Insurance Company a $125 million or larger source of named storm reinsurance protection from the capital markets now won’t be issued.
7. 2022 hurricane season forecast above-normal, with higher landfall probability
   The 2022 Atlantic hurricane season is expected to see above-normal levels of activity according to a number of early forecasts, which also suggest an elevated level of landfall risk for the coming United States wind season.
8. Catastrophe exposed or not, US property insurance rate rises persist
   How catastrophe exposed a property in the United States is has been playing into how easy or expensive buying insurance for it has been for some quarters now and at the start of 2022 it remained a key factor, as in some cases rates are appearing to accelerate again, according to MarketScout.
9. Coastal writer SURE targets debut cat bond, $150m Gateway Re
   Coastal property insurance underwriter SURE, or the SureChoice Underwriters Reciprocal Exchange, is seeking its debut catastrophe bond, with a new $150 million US wind focused Gateway Re Ltd. (Series 2022-1) transaction now launched to investors.
10. Regulators “inflexible culture” hindered UK ILS ambitions: Lords Committee
    UK parliamentary group, the House of Lords Industry and Regulators Committee, has told the government that following an inquiry into commercial insurance and reinsurance regulation, it believes the “inflexible culture” of the regulators has held back the countries ambitions to develop new forms of business.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. 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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