Best of Artemis, week ending March 19th 2023

Here are the ten most popular news articles, week ending March 19th 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 19th 2023:

1. Catastrophe bond spreads hit all-time-high in 2023
   The average spread across newly issued catastrophe bonds has now reached an all-time-high in 2023, as data recorded by Artemis now shows that both the average coupon and the average spread above expected loss of cat bonds entered in the Artemis Deal Directory this year are at record levels.
2. Chile gets $280m of quake cat swaps to go with $350m cat bond. ILS funds play key role
   Chile has secured $630 million of earthquake insurance cover through its World Bank IBRD issued arrangement, with $280 million of catastrophe swaps to add to the recently priced $350 million IBRD – Chile 2023 catastrophe bond.
3. Transparency & cost important, more risk will grow the pie: ILS NYC 2023
   The insurance-linked securities (ILS) market is moving to a place where the non-cat component can expand, and if the market wants to grow over the long-term, more risk will need to come in, according to industry experts at our recent NYC conference.
4. Hurricane deductibles in play as offset to Florida reinsurance challenges
   We’ve learned that some Florida homeowners and property insurance carriers are using hurricane deductibles as a way to offset some of the costs related to the reinsurance challenges they face at this year’s renewals, with some already imposing specific deductible percentages.
5. Ledger partners with Saudi institution ANB Capital for $100m casualty ILS fund
   Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused company, has agreed and signed a memorandum of understanding (MOU) to develop a $100 million ILS fund in partnership with Saudi Arabia based investment institution ANB Capital.
6. Alpina Capital hires experienced ILS executive Gregor Gawron
   Alpina Capital, the asset manager that took over the management and distribution of the Falcon Private Bank catastrophe bond funds, has hired Dr. Gregor Gawron, an experienced executive in the insurance-linked securities (ILS) space and a former manager of that cat bond strategy a decade ago.
7. Florida Citizens likely to sponsor new indemnity cat bond pre-hurricane season
   Citizens Property Insurance Corporation appears likely to return to the catastrophe bond market before the 2023 hurricane season begins, to access indemnity reinsurance protection, as well as its currently in the market and first ever industry-loss trigger cat bond Lightning Re.
8. Hannover Re estimates US $5bn to $10bn of ILS capital still trapped
   Hannover Re, a major player in facilitation of insurance-linked securities (ILS) arrangements, via its fronting and risk transformation services using its balance-sheet, believes that trapped ILS capital amounted to between US $5 billion and $10 billion at the end of last year.
9. Florida’s new Insurance Commissioner Yaworsky faces market challenges
   The state of Florida has a new permanent Insurance Commissioner of the Florida Office of Insurance Regulation (OIR), as Michael Yaworsky has now been confirmed by the Financial Services Commission.
10. Merapi eruption needs to hit 12km high to trigger Danish Red Cross cat bond
    The eruption plume or column from Indonesia’s Mount Merapi would need to reach at least 12km high, for the Danish Red Cross sponsored Dunant Re IC Limited (Series 2021-1) catastrophe bond to be triggered, risk modeller Mitiga Solutions has explained.

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 31 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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