Best of Artemis, week ending July 10th 2022

Here are the ten most popular news articles, week ending July 10th 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 July 10th 2022:

1. Some ILS funds see redemptions, driving cat bond selling pressure
   There has been some redemption activity going on in the insurance-linked securities (ILS) fund market, according to our sources, which is driving some selling pressure in the secondary catastrophe bond market as well and could prolong the spread widening recently seen.
2. Catastrophe bond market hits new record size of $38.2bn
   The global market for catastrophe bonds expanded by almost 2% during the second-quarter of 2022, as demand from sponsors drove strong issuance and helped to grow the outstanding cat bond market to $38.2 billion at June 30th 2022.
3. Munich Re sees 24 month hard market, lowers proportional exposure
   Executives at Munich Re explained that they have been seeing a continued hardening of reinsurance rates and that they believe this could last another 24 months, but are adjusting their exposures to suit the market environment.
4. TSR raises hurricane forecast, expects above average landfalls
   Tropical Storm Risk, one of the insurance and reinsurance industry supported forecast teams, has raised its prediction for activity levels in the 2022 Atlantic hurricane season, while saying landfall chances are above normal as well.
5. Florida’s RAP reinsurance may not lower policyholder premiums
   The recently enacted Florida property insurance market reform that provides an additional layer of state-backed reinsurance to carriers operating in the state is not anticipated to deliver the reductions in policyholder premiums that many had hoped for, according to reports.
6. Reinsurance renewals – stresses not seen in years: Gallagher Re
   The mid-year June and July reinsurance renewals saw buyers experiencing “stresses not seen for several years” according to broker Gallagher Re’s latest 1st View report.
7. European windstorms top international catastrophe loss of 2022 so far
   The catastrophe industry loss from the three major European windstorms that struck close together during the month of February 2022 is the largest international cat loss event of the year so far, according to Cresta.
8. CEA adds TigerRisk to trio of brokers. One to be assigned ILS markets
   The California Earthquake Authority (CEA) has increased the number of reinsurance brokers it will use in future, adding TigerRisk Partners to a panel of three, one of which will be given ILS market placement responsibilities.
9. Fontana casualty-specialty vehicle hard to replicate: RenRe CEO O’Donnell
   RenaissanceRe believes the work it has put into building out its casualty and specialty reinsurance lines, as well as its third-party reinsurance capital management expertise, mean it would be hard for competitors to replicate its new joint-venture vehicle Fontana, with CEO Kevin O’Donnell saying the company has built a “sustainable moat” around the strategy.
10. UCITS catastrophe bond funds see sluggish growth through H1
    The assets under management (AUM) of the main UCITS catastrophe bond funds as a group only rose by 1.2% through the first-half of 2022, which goes some way to explain the restricted capacity of recent months.

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 36 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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