Best of Artemis, week ending June 11th 2023

Here are the ten most popular news articles, week ending June 11th 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 June 11th 2023:

1. Analysts say ~$8bn of alternative capital raised YTD in 2023. Cat bonds could be $4bn+
   Analysts from investment bank Berenberg are estimating as much as $8 billion of alternative reinsurance and insurance-linked securities (ILS) capital has been raised year-to-date, which is a significant amount and far overshadows new capital entering the traditional market.
2. Climate Resilient Development Bond (CRD Bond) proposed with ILS design
   A new financial structure that can provide community-based climate insurance or risk transfer protection from the capital markets, while incorporating resilience, advanced funding for loss-prevention and mitigation, through an insurance-linked security (ILS) designed structure has been proposed.
3. Aon takes Swiss Re’s Cole Mayer to manage global parametric offering
   Aon has announced the hiring of Cole Mayer from Swiss Re, with the executive joining the broker to lead a global center of excellence for parametric products, reporting to Aon Securities CEO Paul Schultz.
4. Another USAA aggregate cat bond at-risk, as just 50% of principal returned
   Another catastrophe bond from the Residential Re series that provided USAA with a collateralized source of aggregate catastrophe reinsurance protection has had its maturity date extended, following a return of half the outstanding principal to investors that totalled $30 million.
5. ILS Asia 2023 update: Keynote presentations and fireside chats
   We’re delighted to announce a few of the keynote presentations and fireside chats that will take place at our upcoming ILS Asia 2023 conference on July 13th in Singapore.
6. AIG & Farmers also reported to pull-back from some catastrophe risks
   On the heels of the news that State Farm is exiting writing property insurance in California, it’s now been reported that AIG and Farmers are also shying away from the most catastrophe exposed areas.
7. Some cat bond funds deliver around 10% return since hurricane Ian
   Catastrophe bond funds in the UCITS format are averaging approximately 6.20% returns year-to-date in 2023, while over a 12-month horizon the average return is now 3.57%, even accounting for major hurricane Ian’s losses in Florida.
8. NJM Insurance targets $175m Lower Ferry Re catastrophe bond
   Another sponsor is re-entering the catastrophe bond market after a hiatus away from it in 2023, as NJM Insurance seeks $175 million in named storm reinsurance from the capital market with a new cat bond, a Lower Ferry Re Ltd. (Series 2023-1) issuance.
9. AXA seeks €125m European windstorm cover with new Eiffel Re cat bond
   AXA has returned to the catastrophe bond market in 2023 for its first transaction since 2019, seeking €125 million or more of European windstorm reinsurance protection through an Eiffel Re Ltd. (Series 2023-1) cat bond issuance.
10. Emergence of casualty ILS the most exciting part of the industry: Fleming CEO
    Fleming Insurance Holdings has received positive feedback from the investor community as it works towards the launch of its insurance-linked securities (ILS) platform focused on the emerging and exciting casualty ILS space, explained Eric Haller, Chief Executive Officer (CEO).

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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