Best of Artemis, week ending March 12th 2023

Here are the ten most popular news articles, week ending March 12th 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.

Ten most read articles on Artemis.bm, week ending March 12th 2023:

1. Swiss Re gets $700m collateralised stop-loss cover via J.P. Morgan
   Swiss Re has secured another $700 million of alternative capital protection for severe underwriting losses, through another collateralised stop-loss arrangement using its Matterhorn Re SPI, with the funding led by investment bank J.P. Morgan.
2. Allstate seeks $225m+ multi-peril catastrophe bond Sanders Re 2023-1
   Allstate is targeting at least $225 million of catastrophe reinsurance from its first catastrophe bond issuance of this year, with the Sanders Re III Ltd. (Series 2023-1) deal set to provide multi-layer coverage across a proposed three tranches of notes.
3. Swiss Re, Guy Carpenter & ICEYE deliver NYC parametric flood insurance
   The trio are all engaged in delivering a pilot parametric community flood insurance scheme for New York City neighbourhoods.
4. Hannover Re will sponsor its first cyber cat bond: Sehm & Ludolphs
   Speaking with Artemis, Hannover Re senior executives Silke Sehm and Henning Ludolphs explained that tapping into the insurance-linked securities (ILS) market for cyber retrocessional reinsurance capacity is a priority and with a quota share already arranged, the next step is sponsoring the reinsurer’s first cyber catastrophe bond, details of the form were not revealed.
5. Swiss Re stop-loss deal complex, not replicable by every reinsurer or investor: Rüede
   Having completed another collateralised stop-loss transaction, to bring more efficient capital into its business, Swiss Re may be nearing the limits of its appetite for this type of arrangement, while the sophistication required means not every reinsurer could replicate this deal.
6. Early indications suggest shift in cat bond market momentum: Aon Securities
   Activity in the catastrophe bond market during the first quarter of 2023 suggests that sponsors have built on the orderly year-end renewal, with initial indications pointing to a shift in momentum across the market, according to Aon Securities.
7. Flywheel Re sidecar gives Accelerant flexibility, funds growth: CFO Jay Green
   Having launched a multi-year sidecar structure called Flywheel Re earlier this year, Accelerant now benefits from greater flexibility and the investor backing is supporting its growth, CFO Jay Green explained at the SIFMA ILS event in Miami last week.
8. $900m of Hannover Re’s gross large losses relate to ILS fronting & Ian
   Hannover Re, a major player in insurance-linked securities (ILS) market facilitation through its fronting and risk transformation activities in collateralised reinsurance and catastrophe bonds, booked a $900 million piece of its gross loss from hurricane Ian related to that business.
9. Property reinsurance prices to remain firm, if not harden, at least through 2023: AM Best
   Rating agency AM Best is anticipating that property reinsurance prices in the United States remain firm, or harden further, right the way through 2023 at least.
10. A seismic reinsurance shift, but alternative capital outlook uncertain: Hiscox CEO
    The global reinsurance market is going through a seismic shift, making it one of the most attractive markets in over a decade, Hiscox Group CEO Aki Hussain said last week.

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 34 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.