Best of Artemis, week ending August 28th 2022

Here are the ten most popular news articles, week ending August 28th 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.

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Ten most read articles on Artemis.bm, week ending August 28th 2022:

1. Hurricane Ida loss creep wipes out another Louisiana Citizens cat bond
   Additional loss creep from 2021’s hurricane Ida has now eroded another layer of Louisiana Citizens’ catastrophe bond backed reinsurance protection, with the $50 million Class B notes of the residual market insurers’ Pelican IV Re Ltd. (Series 2021-1) cat bond set to pay out all of their principal in a reinsurance recovery.
2. Man-made property catastrophe insurance crises engulfing coastal states: report
   U.S. coastal states such as Florida, California, and Louisiana are experiencing a growing property insurance crisis that is being driven by man-made events, highlighting the need for reinsurance capital to absorb more of the risk as carriers navigate a testing environment.
3. Lines between third-party and traditional re/insurance capital continue to blur
   The lines between third-party capital, so that allocated by investors and often structured into insurance-linked securities (ILS), and traditional insurance and reinsurance capital, are continuing to blur.
4. Plenum targets transparency with launch of UCITS cat bond fund Indices
   Plenum Investments, the Zurich based specialist catastrophe bond and insurance-linked securities (ILS) investment manager, has published a new market study and Index family, enabling UCITS cat bond funds to be compared for the first time, while improving the transparency of the cat bond marketplace.
5. Accelerant launches $175m Flywheel Re reinsurance sidecar
   Accelerant, the insurtech that aims to help its members exchange and transfer risk more effectively and also connect them with long-term capital, has launched a $175 million reinsurance sidecar structure named Flywheel Re.
6. Reinsurance – Defensive, with a cycle hardening tailwind: Goldman Sachs
   Equity analysts from investment bank Goldman Sachs have, perhaps unwittingly, laid out a thesis for insurance-linked securities (ILS) investing in their latest research report on the global reinsurance market, which they laud for its defensive investment properties and note has very positive tailwinds at this time.
7. United (UPC) putting carrier into orderly run-off
   United Insurance Holdings Corp. (UPC Insurance) has announced a plan for its personal lines subsidiary United Property & Casualty Insurance Company (United P&C) carrier to withdraw from operations and go into an orderly run-off.
8. Era of catastrophe-focused traditional reinsurers may be over: AM Best
   The era of catastrophe-focused traditional reinsurers appears to be over, rating agency AM Best announced today, as the pulling-back continues in some quarters, while the addition of more diversifying lines of business accelerates among once cat-specialist US and Bermuda based reinsurance firms.
9. Citizens could hit record size as private market appetite wanes for Florida: ALIRT
   Florida’s residual market insurer, or insurer of last resort, Citizens Property Insurance Corporation, could get back to record levels of exposure and policies under management, if the “extreme dysfunction” of Florida’s property insurance market persists and the private market’s appetite to take on risk there remains limited.
10. Catastrophe bond market positioned for next stage of growth: Swiss Re
    The trend of increased new issuance volume in catastrophe bonds is expected to continue, with positive growth of the cat bond market expected as a result, according to Swiss Re Capital Markets.

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 28 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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