Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Best of Artemis, week ending July 23rd 2023


Here are the ten most popular news articles, week ending July 23rd 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.

Tickets are available for Artemis London 2023, our next ILS conference (Sept 5th)

artemis-cat-bond-ils-newsTen most read articles on, week ending July 23rd 2023:

  1. Vesttoo: Collateral damage
    The insurance and reinsurance industry faces a potential crisis of confidence over some forms of collateral, as the fall-out from the Vesttoo fraudulent, or forged, letter of credit (LOC) claims spread, which might elevate the profile of the fully-collateralised model of reinsurance adopted by the insurance-linked securities (ILS) market.
  2. Vesttoo: Multiple LOCs from one bank in focus. Failure of security controls or KYC?
    The audit at under fire insurtech Vesttoo continues, but the effort to uncover what exactly has happened, in relation to claims of forged or fraudulent letters of credit (LOCs), is said to have found that multiple LOCs are involved and all were issued by the same bank.
  3. Aeolus Capital Management AUM hits $3.9bn on mid-year capital raise
    Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, has been the beneficiary of fresh investor client inflows in advance of the mid-year renewals, we understand, taking its overall assets under management (AUM) to $3.9 billion.
  4. Property cat bond issuance surpasses $10 billion already in 2023
    Property catastrophe bond issuance in 2023 has now exceeded the $10 billion mark, and so is well on track to beat the previous annual record of $12.5 billion seen in 2021, Artemis’ data shows.
  5. Bain Capital raises $1.15bn insurance private equity fund
    Private equity specialist investment manager Bain Capital has raised a $1.15 billion fund targeted at deployment into opportunities in the insurance and reinsurance space.
  6. Florida Citizens depopulation seeing more interest & participation: OIR
    Despite the news of a range of insurance carriers pulling-back to manage their catastrophe exposure in Florida, there remains an appetite to assume this risk and the state insurance regulator says that it is seeing greater interest and participation in the Florida Citizens Depopulation program in 2023.
  7. Convective storms in Europe to drive hundreds of millions in losses: Aon
    Outbreaks of severe convective storms across western and central Europe between July 6th and 13th are initially anticipated to drive minimally hundreds of millions of Euros in insured losses, according to broker Aon.
  8. Reinsurer & primary risk sharing realigned. No sign of softening: RBC
    One of the key themes to come out of renewals over the last year is a realignment of risk sharing in natural catastrophe risks between the reinsurance market, including ILS funds and alternative capital, and the primary insurers.
  9. Elementum raises again and returns to $4bn AUM mark at mid-year
    Elementum Advisors, LLC, the insurance and reinsurance linked asset manager, has raised additional capital in advance of the middle of the year, with its overall assets under management reaching the $4 billion mark again at June 30th.
  10. ILS ambitions could help Lloyd’s harness its innovation progress: Aon
    While the Lloyd’s of London insurance and reinsurance marketplace has been advancing an innovation and modernisation agenda in recent years, broker Aon believes the market’s insurance-linked securities (ILS) ambitions could help it harness the progress its made.

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.

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.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.