Here are the ten most popular news articles, week ending May 21st 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 May 21st 2023:
- Florida carriers face “no-win situation” at June reinsurance renewal: ALIRT
At the fast-approaching June 1st reinsurance renewals, Florida focused insurance carriers are facing a “no-win situation”, with rate increases of as much as 50% expected, according to ALIRT Insurance Research. - Hurricane forecasts point to US and Florida risk for 2023 season
Some forecasts suggest that the United States eastern seaboard and Florida could face elevated threats this year, the main reason being the warmer than average SST’s seen in the Atlantic and also Gulf. - Florida Citizens sees positive renewal momentum, but higher pricing: CFO Montero
The Board approved a slightly smaller budget for its reinsurance and capital market risk transfer purchases than expected yesterday, but market conditions are improved somewhat it seems and, while pricing is higher, the insurer of last resort is seeing positive momentum, especially with catastrophe bonds. - Allstate’s aggregate reinsurance year starts with $872m of cat losses
Allstate has reported a relatively heavy catastrophe loss burden for April 2023, with $872 million of losses recorded during what is the first month of the annual aggregate term for many of its Sanders catastrophe bonds and the reinsurance they provide. - Munich Re triples Queen Street cat bond to $300m, its biggest ever sponsored
Munich Re has successfully secured the tripling in size of its new Queen Street 2023 Re dac catastrophe bond transaction to $300 million, becoming the biggest cat bond ever sponsored by the company. - Florida Citizens secures $750m of reinsurance with new Everglades Re cat bond
Citizens secured $750 million of named storm reinsurance protection for the 2023 hurricane season with this dual-series issuance of Everglades Re II Ltd. (Series 2023-1 & 2023-2) notes, with the prices fixed within the initial guidance. - Italy floods to cost billions, but insurance protection gap to be significant: Aon
The economic losses and cost associated with the ongoing severe flooding event in Europe that has particularly affected the Emilia-Romagna Region of Italy is expected to be significant, rising into the billions of Euros, but the insured losses will be lower as a “significant protection gap” for flood risk persists, broker Aon has said. - Everest Re targets renewals growth with up to $1.5bn equity capital raise
Everest Re Group sees a clear opportunity for expansion at the upcoming reinsurance renewals, launching an equity capital raise that was quickly upsized and could provide the firm close to $1.5 billion in new firepower. - Catastrophe reinsurers “in the driver’s seat” for Florida renewal: Stonybrook
Catastrophe reinsurance providers hold most of the cards for the impending Florida renewals at June 1st, with even legislative efforts to improve the situation “missing the mark” in some cases. - Arbol sets up Bermuda collateralized insurer to tap capital market capacity
Arbol has become the latest company to establish a collateralized insurer class of company in Bermuda, named Arbol Re Ltd.
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 35 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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