Best of Artemis, week ending July 30th 2023

Here are the ten most popular news articles, week ending July 30th 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.

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Ten most read articles on Artemis.bm, week ending July 30th 2023:

1. Vesttoo: All our coverage of the alleged collateral issues
   Stories about the collateral issues linked to insurtech Vesttoo dominated the news and views last week, so we’ve aggregated all our coverage here.
2. Swiss Re’s Vita Capital mortality bond trades down, loss potential rising
   The secondary market price for the Vita Capital VI Limited (Series 2021-1) mortality catastrophe bond transaction that was sponsored by global reinsurance firm Swiss Re has dropped, with the market seemingly anticipating an increasing chance of losses being paid under the terms of the notes.
3. Hurricane Ian ILS fund side pockets & trapped capital resolution continues
   According to our sources, insurance-linked securities (ILS) fund managers are having continued success at closing down certain exposures to last year’s hurricane Ian, with a number of side pockets being finalised and trapped capital continuing to be freed.
4. ILS investor appetite could be challenged at year-end: RenRe CEO
   Insurance-linked securities (ILS) investor appetite may still be challenged towards the end of this year, which alongside a lack of confidence that any meaningful reinsurance start-ups could get to market in time for the renewals, leads RenaissanceRe’s CEO Kevin O’Donnell to believe the hard market can persist.
5. Florida at inflection point, but long way to regain semblance of normalcy: ALIRT
   The Florida property insurance marketplace is still a long way off becoming a stable environment for carriers to operate in, but there are signals that an inflection point has now been reached, which suggests insurance in Florida is on a path towards greater normalcy, according to ALIRT Insurance Research.
6. RenRe raised $350.5m of third-party capital for cat bond strategies in Q2
   RenaissanceRe (RenRe) has reported raising $350.5 million of new capital from investors largely for catastrophe bond strategies during the second-quarter of 2023.
7. Universal encouraged by Florida claims & litigation environment after reforms: CEO
   Universal Insurance Holdings, the Florida headquartered primary insurance carrier, believes that there are now signs of an improved claims and litigation environment in the state, after the enactment of the legislative property insurance reforms.
8. Munich Re puts H1 insured cat losses at $43bn, well below broker estimates
   Munich Re has issued a preliminary estimate of $43 billion for first-half 2023 natural disaster insured losses around the globe, a figure that is well below the estimates issued by leading reinsurance brokers.
9. ILS and retrocession were growth areas for Guy Carpenter in Q2: CEO Klisura
   For reinsurance broker Guy Carpenter two areas of specific growth during the second-quarter of 2023 were the insurance-linked securities (ILS) market and global retrocession, with capital inflows seen to help activity increase, according to President and CEO Dean Klisura.
10. The Hanover renews reinsurance at expiring terms, but catastrophe losses weigh
    The Hanover Insurance Group is the latest to reveal a heavy catastrophe loss burden from recent convective storms and severe weather in the United States, but the carrier also said it has successfully renewed all its reinsurance at expiring terms for the coming year.

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.

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