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Best of Artemis, week ending April 9th 2023


Here are the ten most popular news articles, week ending April 9th 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.

artemis-cat-bond-ils-newsTen most read articles on, week ending April 9th 2023:

  1. Cat bond spreads and multiples soar in busy opening quarter: Report
    The catastrophe bond and related insurance-linked securities (ILS) market saw $3.3 billion of new risk capital issued in the first-quarter of 2023, but the big story of the opening period of this year was the elevated spread environment and as a result the promise of higher returns for investors, Artemis’ latest quarterly report shows.
  2. Everyone pays more at April 1 reinsurance renewal: Gallagher Re
    At the just completed April 1st 2023 reinsurance renewals even the most favoured clients have paid more for their coverage, while no geographic region was immune to the market price correction, Gallagher Re has explained.
  3. Material property-cat reinsurance hardening at April renewal: Aon’s Monaghan
    Reporting on the just completed April 1st reinsurance renewals, broker Aon has said that it is optimistic that the market is now on a more stable footing, although supply and demand are still “delicately poised.”
  4. TSR forecasts below-norm Atlantic hurricane season due to El Nino
    The 2023 Atlantic hurricane season is forecast to see below-normal levels of activity, as the La Niña conditions present last year have dissipated and it is expected that El Nino conditions will set in over the coming months, according to Tropical Storm Risk (TSR).
  5. 40th Residential Re cat bond launches for USAA with $200m target
    USAA, perhaps the most consistent of catastrophe bond sponsors, at least of any primary company, is back in the cat bond market with what will be its 40th deal under the Residential Re name, seeking $200 million or more in multi-peril reinsurance protection from a Residential Reinsurance 2023 Limited (Series 2023-1) issuance.
  6. UCITS cat bond funds grow 7% to record $9.37bn high in Q1 2023
    Inflows to the catastrophe bond market and recoveries in values of certain cat bond positions through the first-quarter of 2023, have driven the combined assets under management of the main UCITS cat bond fund strategies 7% higher to a new record of $9.37 billion.
  7. Cat bond market could see “meaningful” growth in 2023: Aon
    The attractive margins still available to investors in catastrophe bonds have the potential to drive “meaningful market growth” in 2023, broker Aon has explained.
  8. Heritage targets $180m Citrus Re 2023-1 named storm cat bond
    Nationally expansive and Florida headquartered property and casualty insurer Heritage Insurance Holdings, Inc. has returned to the catastrophe bond market with a Citrus Re Ltd. (Series 2023-1)  deal, seeking $180 million or more in named storm reinsurance protection from the capital markets.
  9. Alternative capital reached new $96bn high at end of 2022: Gallagher Re
    Alternative reinsurance capital, so the capacity deployed through insurance-linked securities (ILS) structures including catastrophe bonds, has experienced a return to growth in the second-half of 2022, ending the year 2% up at $96 billion, while traditional reinsurance capital shrank 14%, according to data from Gallagher Re.
  10. Stone Ridge mutual ILS fund AuM rises for first time since 2018
    Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets under management (AuM) rose in the last quarter of record, seemingly driven in the main by improvements in catastrophe bond values and returns.

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 30 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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