Best of Artemis, week ending March 17th 2024

Here are the ten most popular news articles, week ending March 17th 2024, 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 17th 2024:

1. Property the best priced business in the world. Conditions to endure: Chubb CEO Greenberg
   Property underwriting is “the best-priced business in the world right now” and, as long as Chubb is getting paid adequately, its CEO Evan Greenberg said that the company is ready to take greater catastrophe concentration and volatility.
2. Swiss Re hires Barton back from Goldman as Head, ILS Structuring Americas
   Global reinsurance giant Swiss Re has hired a former insurance-linked securities (ILS) employee back from investment bank Goldman Sachs, with Edward Barton rejoining the reinsurer as Head of ILS Structuring Americas.
3. 2024 hurricane season – La Nina with lower odds of re-curving: Klotzbach at SIFMA ILS
   Speaking at the SIFMA ILS conference in Miami, Phil Klotzbach, Ph.D., a Senior Research Scientist at the Department of Atmospheric Science of the Colorado State University, provided some insights into what to expect for the coming 2024 Atlantic hurricane season.
4. Cat bond price changes positive in Q4 2023, but turn negative for Q1 2024 so far
   In Q4 2023, the catastrophe bond investor base pushed for higher risk-adjusted returns amid favourable market conditions, with the average price change of spreads over the issuance process swinging to positive for the first time in the year. However, looking at Q1 2024 data so far, a very different picture is emerging.
5. PGGM ILS assets surpass $9bn, builds-out mandates under Nightingale Re
   PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, ended 2023 with just over US $9 billion in ILS assets under management.
6. UCITS cat bond fund AUM hits record $11.24bn, Schroders & Twelve surpass $3bn each
   Catastrophe bond funds in the UCITS format have continued to experience growth as a group in early 2024, ending February with $11.24 billion in combined assets under management (AUM), while two UCITS cat bond funds have surpassed the $3 billion milestone this year.
7. Brookfield sponsoring Aragonite Re cat bond to protect property portfolios
   Brookfield Corporation, a Canadian multinational that is one of the largest alternative investment management companies, is looking to the catastrophe bond market and sponsoring a $100 million Aragonite Re Ltd. (Series 2024-1) deal, to provide named storm and earthquake insurance protection for its portfolios of property investments.
8. Lloyd’s on-track to achieve best returns on capital for over 15 years: ICMR
   The Lloyd’s of London insurance and reinsurance marketplace is on-track to achieve its best returns on capital in more than 15 years, according to analysis from Insurance Capital Markets Research.
9. Mexico expected to renew Pacific coast hurricane cat bond after Otis resolution
   While he Government of Mexico is back in the catastrophe bond market with a new World Bank facilitated IBRD CAR Mexico 2024 parametric catastrophe bond, that deal is missing one of its usual components, a Pacific hurricane tranche, but sources tell us to expect one, once any recovery from hurricane Otis is finalised.
10. Setting foundations to make cat bonds a broadly accepted asset class: Guatteri, SRILIAC
    Market developments are helping to set the foundations to make catastrophe bonds a much more broadly accepted asset class, according to MariaGiovanna Guatteri, CEO of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), who feels the asset class remains attractive despite recent tightening.

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.

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