Best of Artemis, week ending March 3rd 2024

Here are the ten most popular news articles, week ending March 3rd 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 3rd 2024:

1. Reinsurance has a self-healing mechanism, investors may not have realised: Swedroe
   Some investors may not have realised that “reinsurance has a self-healing mechanism” causing them to miss out on the record year of returns in 2023, according to Larry Swedroe, Head of Financial and Economic Research at Buckingham Wealth Partners.
2. Florida: Reforms encourage carriers, drive property insurance market improvement
   The legislative reforms aimed at improving the property insurance market in Florida are increasingly seen as having a positive effect, with carriers increasing their appetite for writing in the state and analysts suggesting the benefits of the reforms could be significant over time.
3. Munich Re expects positive 2024 renewals, warns on price adequacy for extreme weather
   Munich Re said that while market pressure has increased slightly in reinsurance, the company anticipates positive conditions continuing through the April and July renewals, although at the same time cautioning that pricing must remain adequate to cover severe weather risks.
4. Altimapa Capital launches dedicated ILS unit with hire of Pedro Jácome
   Altimapa Capital, a London based private debt investment and financing specialist, is looking to capitalise on growing institutional investor interest in the insurance-linked securities (ILS) space, with the launch of a dedicated ILS unit led by former Ledger executive José Pedro Jácome.
5. Nephila’s results start to confirm original thesis for acquisition: Markel CEO Gayner
   The original thesis for buying into the insurance-linked securities (ILS) sector with the acquisition of Nephila Capital is now starting to be confirmed for Markel, as the ILS managers’ results improved dramatically and its funds are substantially all above their high-water marks after 2023.
6. Vesttoo case: Chapter 11 plan confirmed. Focus now turns to Bermuda
   The modified and amended Chapter 11 bankruptcy plan of liquidation for insurtech Vesttoo got its court approval late yesterday, as the Delaware judge signed off on a last minute term sheet related to settlements. But, with some objections still being raised the focus now turns to the Bermuda court for approval to proceed with constructive trust claims and recoveries under the plan.
7. Capital-light reinsurance and sidecars in focus for life re/insurers: Goldman Sachs
   The US life insurance and reinsurance marketplace is increasingly focused on setting-up capital light reinsurance structures, while there is also growing appetite for sidecar structures to support capacity as well, analysts at Goldman Sachs have reported.
8. Insurance (cat) carried the day ($3.5bn in 2023 P&C earnings): Warren Buffett
   The Berkshire Hathaway insurance and reinsurance businesses delivered as Warren Buffett had anticipated in 2023 and the result drives home investor attraction to the sector right now, with a stunning performance and $3.5 billion in earnings reported by the property and casualty reinsurance arm.
9. RenRe’s 3rd-party capital AUM nears $7bn. Raises for new Upsilon managed account
   Third-party investor capital under management in reinsurance joint-ventures and insurance-linked securities (ILS) funds managed by RenaissanceRe’s Capital Partners division reached almost $7 billion at the start of 2024, with the firm’s catastrophe bond fund strategy driving the largest share of the last year’s growth.
10. Gap between traditional and capital market rates narrowed for some perils: Swiss Re
    In 2023, the catastrophe bond market became increasingly attractive for sponsors, with the gap between traditional reinsurance and capital market rates narrowing for some perils, according to reinsurance firm Swiss Re’s Capital Markets division.

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 36 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.