Best of Artemis, week ending March 5th 2023

Here are the ten most popular news articles, week ending March 5th 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 5th 2023:

1. Florida Citizens sponsoring $200m Lightning Re industry loss cat bond
   Florida’s Citizens Property Insurance Corporation is back in the catastrophe bond market and for the first time the residual market insurer for the state is seeking reinsurance on an industry loss trigger basis, with a $200 million target for this Lightning Re Ltd. (Series 2023-1) issuance.
2. Blackstone multi-strat fund increases PIMCO ILS allocation
   Blackstone Alternative Asset Management, the hedge fund solutions unit of Blackstone, upsized its investment into an insurance-linked securities (ILS) strategy managed by asset management giant PIMCO before the end of last year.
3. Perez backs insurtech startup H2, aims to bring transparency to ILS investors
   Andre Perez, well-known as the founder and former CEO of leading insurance-linked securities (ILS) facilitation, reinsurance management, fund administration, and risk transformation specialist Horseshoe, has returned backing a new venture, H2 Group, a Bermuda-based technology firm with a first product that promises to bring more transparency to ILS investors.
4. A giant ILS reset, with higher pricing to persist: SIFMA ILS
   At the 2023 SIFMA ILS conference in Miami last week, speakers explained that the insurance-linked securities (ILS) market has undergone a giant reset and that the now-higher rate environment is anticipated to persist, leading others to cite their optimism for the asset class going forwards.
5. Berkshire Hathaway gets $1.42bn Q4 premium, $14bn float with Alleghany
   Warren Buffett’s conglomerate and re/insurance company Berkshire Hathaway delivered an underwriting loss for 2022 in its results this weekend, but the benefits of the strategy of accumulating “free” investment float are again evident and the acquisition of Alleghany Corporation has helped to bulk this out even further.
6. Aon gets $300m M&G Investments commitment for IP financing strategy
   Aon continues to blur lines, as today’s announcement of the launch of an intellectual property financing solutions strategy under registered investment adviser Aon Advantage Funds LLC, and a $300 million commitment to it secured from M&G Investments shows.
7. Elementum ILS funds get further $100m investment from White Mountains
   Elementum Advisors, LLC, the insurance-linked securities (ILS) investment fund manager and collateralised reinsurance underwriter, is to benefit from a further $100 million investment into its range of ILS funds from stakeholder and key investor White Mountains.
8. 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.
9. Security First to sponsor its fifth cat bond, a $100m First Coast Re IV
   Security First Insurance Company, a specialist Florida domestic homeowners insurer, is back in the catastrophe bond market with a First Coast Re IV Ltd. (Series 2023-1) issuance, that targets $100 million or more in named storm and severe thunderstorm reinsurance protection for the company.
10. W. R. Berkley grows Lifson Re sidecar capital to $380m for 2023
    W. R. Berkley Corporation, the US headquartered insurance holding company, has secured additional investor commitments for its Lifson Re collateralized reinsurance sidecar vehicle, growing the vehicles capital base to $380 million for 2023.

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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