Best of Artemis, week ending April 3rd 2022

Here are the ten most popular news articles, week ending April 3rd 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 3rd 2022:

1. 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.
2. Re2 Capital climate risk venture launched by Nephila alumni
   Re2 Capital has been launched by three well-known former employees of ILS manager Nephila Capital, with a mission to structure innovative climate risk transfer and financing solutions that can connect private investment capital and risk capacity to climate-linked opportunities.
3. PGGM ILS portfolio at ~$8.2bn, as Aeolus, SCOR & Nightingale Re added
   PGGM has increased its ILS portfolio to roughly US $8.2 billion, while adding new mandates with Aeolus, SCOR and a managed account structure named Nightingale Re.
4. Australia flooding again, complicating claims, reinsurance and recoveries
   Australia is flooding again, with weather forecasters talking about a “rain bomb” for the Sydney and surrounding region of New South Wales and flood waters rising in some areas already impacted by the recent severe weather and floods that struck in late February.
5. AIG’s Lexington pulls-back in Florida, raising questions on E&S market
   Lexington Insurance Company, the U.S. based surplus lines insurer arm of global player AIG, has reportedly announced a pull-back from Florida’s high-value homeowners insurance market, with plans to stop offering personal lines property coverage from August.
6. Demotech warns some Florida carriers must “markedly improve” in 2021
   With thoughts turning to the key mid-year reinsurance renewals and negotiations already underway for many Florida domestic insurance carriers, rating agency Demotech has warned that nine carriers need to report “markedly improved operating results in 2021” to sustain their current rating level.
7. R&Q to be sold to 777, as Gibson Re sidecar traction begins
   R&Q, or Randall & Quilter, the non-life insurance and reinsurance legacy, run-off and program management specialist, is being sold  to a vehicle backed by one of its major shareholders, 777 Partners.
8. Swiss Re raises 2021 nat cat insured losses to $111bn
   The global insurance and reinsurance industry faced $111 billion of natural catastrophe losses in 2021, according to Swiss Re, which is a 6% increase on its $105 billion estimate from December.
9. April renewals see modest property catastrophe rate rises: Gallagher Re
   Property catastrophe treaty reinsurance rates saw modest, single digit increases, similar to those seen at the 1/1 renewals, as the April 1st reinsurance renewal season passed in a largely orderly manner, broker Gallagher Re has said.
10. Lloyd’s seeks expanded ILS approvals for London Bridge Risk PCC
    The Lloyd’s insurance and reinsurance market is understood to be in active discussion with financial market regulators over an expansion of the regulatory approvals for its insurance-linked securities (ILS) structure London Bridge Risk PCC.

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 33 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.

View the current breakdown of the ILS market in our range of charts, allowing you to analyse cat bond issuance.

Check out the assets under management of the ILS fund market with our ILS investment manager directory.

Get listed in our MarketView directory of professionals.