Best of Artemis, week ending April 30th 2023

Here are the ten most popular news articles, week ending April 30th 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 30th 2023:

1. Andre Perez launches Nascent Group, aims to reimagine ILS servicing
   Andre Perez has announced the launch of Nascent Group, an insurance management and reinsurance transformer company that aims to reimagine the insurance-linked securities (ILS) servicing space, through adopting a technology-driven approach.
2. Visualising cat bond pricing coming off the top of a hard market
   As we’ve been reporting for some weeks now, there is increasing evidence in the way catastrophe bonds are pricing that rates for reinsurance and retrocessional coverage from the cat bond market are now coming off the top of the hard market.
3. Florida’s lawsuit deluge threatens weakened insurance market: Triple-I
   The fact trial lawyers have dumped tens of thousands of lawsuits into the Florida courts in March, just before the state’s tort reform legislative overhaul kicked in, adds another threat to the already challenged Florida insurance market, the Insurance Information Institute (Triple-I) has said.
4. Munich Re seeks first cat bond since 2016, $100m Queen Street 2023 Re
   Global reinsurance giant Munich Re is returning to the catastrophe bond market to sponsor its first issuance since 2016, seeking $100 million or more in US named storm retrocession with a Queen Street 2023 Re dac transaction.
5. The cleanest ILS portfolios ever. Record issuance possible: K2 Advisors
   The portfolios of reinsurance and retrocessional risk transferred to the capital markets, through catastrophe bonds and other insurance-linked securities (ILS), in 2023 are potentially the cleanest ever seen, while record cat bond issuance is a possibility this year, K2 Advisors has said.
6. Tailwinds emerging at Elementum: White Mountains CEO Rountree
   Following a number of challenging years for insurance-linked securities (ILS) managers, current market conditions now look more positive, which has led White Mountains CEO Manning Rountree to explain of the ILS manager it has an ownership stake in, Elementum Advisors, that “tailwinds” are now emerging.
7. Spinnaker targets debut catastrophe bond, $100m Mountain Re Ltd.
   Spinnaker Insurance Company, a personal and commercial lines program and fronting specialist, has entered the catastrophe bond market for the first time, seeking $100 million or more in US multi-peril collateralized reinsurance from a Mountain Re Ltd. (Series 2023-1) issuance.
8. Risk / return of property “as compelling as ever”. Nephila capital raising ongoing: Markel’s Noble
   Jeremy Noble, President of Insurance at Markel Corporation, said during the re/insurer’s Q1 2023 earnings call yesterday that the combination of the current rate environment in the property sector and its own initiatives, points to a compelling risk / return proposition as the firm continues to work hard to raise capital across its Nephila Capital strategies.
9. Hannover Re grows collateralised reinsurance fronting business 36% in 2022
   Global reinsurer Hannover Re continued to expand the volume of collateralised business that it acts as a front or transformer for in 2022, with ceded limit rising 36% to almost EUR 6.2 billion for the year.
10. CATCo run-off continues apace, favourable development booked in Q1 by Markel
    The running-off of the Markel CATCo Investment Management portfolios of retrocessional reinsurance continues apace, with additional favourable development booked in the first-quarter of 2023, and now just 10 open contracts said remaining at the Markel CATCo Re reinsurance vehicle.

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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