Best of Artemis, week ending March 20th 2022

Here are the ten most popular news articles, week ending March 20th 2022, 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 20th 2022:

1. No quick fix as Florida property insurance reforms fail to pass
   Insurance, reinsurance and insurance-linked securities (ILS) markets hoping that some of Florida’s legislative actions targeted at reforming the challenged property insurance market might pass this year, look set to be disappointed again.
2. Aon puts Japan quake costs in the billions, likens it to $2bn+ industry loss
   The broker put the economic impact from this weeks magnitude 7.3 Japanese earthquake into the billions, while likening the event to the 2021 quake that caused more than US $2 billion in insured losses.
3. Insurtech Kin targets debut cat bond with $100m Hestia Re deal
   Direct-to-consumer and fast-growing insurtech Kin Insurance is entering the catastrophe bond market for the first time, seeking $100 million of Florida hurricane reinsurance protection with a Hestia Re Ltd. (Series 2022-1) issuance.
4. Cat bonds & ILS demonstrate lack of correlation during crisis again
   The catastrophe bond and insurance-linked securities (ILS) investment market has robustly demonstrated some of its key traits through February 2022, with the general lack of correlation and largely inflation-proof returns both evident during a time of significant capital market and equity market stress.
5. Vesttoo closes stop-loss covering $270m in premium for Lloyd’s syndicate
   The insurtech has closed on an aggregate stop-loss treaty reinsurance arrangement for a large Lloyd’s syndicate, with Acrisure Re broking the deal.
6. Suncorp says floods trigger aggregate, drop-down & main cat reinsurance
   Suncorp said it is treating the recent severe flooding in Australia as four events for reinsurance purposes and that it expects to trigger its aggregate catastrophe reinsurance, its drop-down protection and the main catastrophe excess-of-loss tower.
7. Rate increases no longer a panacea for ILS fund results: AM Best
   Rate increases alone are no longer considered sufficient to improve the underwriting results of insurance-linked securities managers and reinsurance firms, according to AM Best, who believes that after consecutive years of heavy catastrophe losses the only answer is continued improvement of the quality of portfolios of risk.
8. Peak Capital hires Pillar’s Holmes as Head of Finance, Ops & Compliance
   Peak Capital, the insurance-linked securities (ILS) investment fund manager operation of Hong Kong based reinsurance firm Peak Re, has made a new hire, adding Derrick Holmes as its new Head of Finance, Operations and Compliance.
9. PRA looks to evolve UK ILS regime, after challenging start: Sweeney
   The UK’s top regulator recognises that the insurance-linked securities (ILS) regime in the country has faced challenges since its launch and wants to evolve the system to make for swifter and easier issuance conditions, to attract more ILS and catastrophe bond activity to be transacted there.
10. Heritage seeks $100m Citrus Re cat bond for NE US wind reinsurance
    Heritage Insurance Holdings, Inc., the Florida headquartered but nationally expansive property and casualty insurer, has returned to the catastrophe bond market seeking $100 million or more of north-east US wind reinsurance.

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 32 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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