Best of Artemis, week ending April 16th 2023

Here are the ten most popular news articles, week ending April 16th 2023, 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 16th 2023:

1. CSU hurricane season forecast warns on uncertainty & warm Atlantic SST’s
   Colorado State University’s tropical meteorology team cite hurricane season uncertainty related to the strength of El Niño and warmer than normal Atlantic sea surface temperatures (SST’s).
2. Industry loss warranty (ILW) rates-on-line soften from highs
   The industry loss warranty (ILW) market has softened somewhat, seemingly in-line with the catastrophe bond market, with what were record high ILW rates-on-line now coming in on average roughly 12% lower for the second-quarter of 2022, according to our sources.
3. Video from ILS NYC 2023. Session 1: Catastrophe bond expectations
   The first session of the day at our Artemis ILS NYC 2023 conference, held in New York on February 10th 2023, featured industry leaders discussing the catastrophe bond market and their expectations around its future potential.
4. US severe weather insured losses could develop to Q1 record $9.5bn: BMS
   Severe and convective weather losses in the United States for the first-quarter of 2023 could develop to become the largest insurance industry loss for Q1 on record, according to a forecast from broker BMS.
5. UCITS cat bond funds in record start, with near 4% return for Q1 2023
   Catastrophe bond funds in the UCITS format have reported a record start to the year, delivering almost 4% in returns on average in the first-quarter of 2023, according to the latest data from the Plenum CAT Bond UCITS Fund Indices.
6. State Farm secures $450m of reinsurance with new Merna Re cat bonds
   US primary insurance giant State Farm has been back in the catastrophe bond market for additional capital markets supported catastrophe reinsurance in recent weeks, securing $450 million of protection across two series of notes issued, to provide multi-peril coverage to the company.
7. HCI sets up Tailrow Insurance, as Florida starts to look more attractive
   As the state of Florida begins to look a more attractive proposition for property insurance underwriting in the wake of the significant legislative reforms that are being enacted, HCI Group is looking to capitalise on the opportunity, with the launch of a new Florida domestic named Tailrow Insurance.
8. Resolute, Gallagher Re & KCC launch “Footprint” catastrophe reinsurance product
   Resolute Global Partners, a registered investment advisor focused on niche opportunities in the insurance and reinsurance space and formerly known as ILS Capital, has aligned with broker Gallagher Re and catastrophe modeller Karen Clark & Company (KCC) to launch a new reinsurance product named Footprint.
9. Cat bonds – the only true diversifier: Banque Bonhôte & Cie
   Catastrophe bonds, as an asset class exhibiting the rare property of price moves that are independent of broader financial markets, can be considered “the only true source of diversification,” according to Swiss private bank Banque Bonhôte & Cie.
10. African Risk Capacity (ARC) targets ILS with Gallagher Re’s support
    The African Risk Capacity (ARC) has selected reinsurance broker Gallagher Re to assist it with its own risk transfer needs, with the design of alternative risk transfer mechanisms, such as insurance linked securities (ILS) part of a development plan for its portfolio hedging and risk transfer arrangements.

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 29 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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