Best of Artemis, week ending June 18th 2023

Here are the ten most popular news articles, week ending June 18th 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 18th 2023:

1. Nationwide is latest major US insurer to pull-back, citing cat weather losses & inflation
   Nationwide is the latest major US carrier to announce that it is pulling-back, due to catastrophic weather losses and inflation among other reasons, with the carrier set to re-underwrite some personal lines and property business.
2. Florida takeouts mid-hurricane season show Citizens book viewed as attractive
   The approval of two carriers to takeout policies from Florida’s property insurer of last resort, Citizens Property Insurance Corporation, right in the middle of the hurricane season, shows there are risks that are viewed as attractive within the Citizens portfolio, while these semi-seasoned risks can even be an easier win than finding and writing new business.
3. Visualising the catastrophe bond market shift from aggregate to occurrence
   Using our data, we can visualise the gradual shift back, from aggregate reinsurance and retrocessional risks making up the largest share of the catastrophe bond market, to today when per-occurrence reinsurance and retro structures have become more popular.
4. Factorial Funds adds ILS & reinsurance investing to its strategies
   Factorial Funds, a Los Angeles headquartered global asset manager, is entering the insurance-linked securities (ILS) space, while also looking at other reinsurance opportunities as well.
5. ILS Asia 2023 update: One month to go. Our agenda for the day
   There is now less than one month to go until our ILS Asia 2023 conference, held on July 13th in Singapore. Today we have published a draft agenda for the day, over on the conference website. Please register soon to ensure attendance.
6. Vantage bolsters property cat & analytics support for AdVantage ILS strategy
   Vantage Risk has made two leadership adjustments of relevance to the firm’s insurance-linked securities (ILS) strategy under its AdVantage collateralized insurer.
7. UCITS cat bond fund assets rise 4% to almost $9.8bn by end of May
   Catastrophe bond funds in the UCITS format are rapidly approaching a combined $10 billion of assets under management (AUM), with another $372 million added in just the last two months.
8. Elementum sees investor interest across ILS spectrum, gets 3 new mandates in Q1
   Elementum Advisors, LLC is seeing investor interest across the insurance-linked securities (ILS) instrument spectrum and has won three new mandates in the first-quarter of 2023, White Mountains CEO Manning Rountree said recently.
9. Allstate’s Florida cat bond facing hurricane Ian loss has maturity extended
   The one Florida focused catastrophe bond sponsored by US insurer Allstate that is considered facing a complete loss of principal after last year’s hurricane Ian has now had its maturity date extended, suggesting the insurers’ ultimate loss for the event has yet to be finalised.
10. Tight cat bond capacity drove simultaneous issuance of Chile cat swaps: World Bank
    The fact capacity and capital was tight in the catastrophe bond market at the time of the issuance of the $350 million of IBRD – Chile 2023 cat bond notes drove the World Bank team to look to traditional re/insurers and the issuance of simultaneous catastrophe swaps, resulting in much stronger execution for Chile.

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.

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