Best of Artemis, week ending November 13th 2022

Here are the ten most popular news articles, week ending November 13th 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 November 13th 2022:

1. PGGM to reduce ILS investments as target allocation exceeded
   Netherlands-based pension investor PGGM is set to reduce the overall size of its insurance-linked securities (ILS) market investments, as the groups ILS portfolio has now grown substantially above the target allocation percentage.
2. Swiss Re calls for different approach on cyber, cites need for cyber ILS
   Global reinsurance giant Swiss Re has said this morning that the industry needs to adopt a different approach to cyber risk underwriting, while also repeating its call for the development of a cyber insurance-linked securities (ILS) marketplace.
3. There’s no wall of capital, or if there is, it’s tiny: Burkhard Keese, Lloyd’s CFO
   Speaking during a briefing event held in London by rating agency AM Best, Burkhard Keese, the CFO of Lloyd’s, explained that he doesn’t believe we will see any meaningful capital flowing into reinsurance through the ILS market in the short term.
4. Hurricane Ian cat bond loss estimates significantly lower than expected: Plenum
   The manager slashed hurricane Ian loss expectations for its catastrophe bond investment funds, saying that initial estimates from sponsors are coming in “significantly lower than our original expectations”, leading it to believe the draw-down could be less than half the initial estimates.
5. Allstate seeks $100m+ Sanders Re III multi-peril cat bond. Post-Ian spreads evident
   US primary insurance carrier Allstate is back in the catastrophe bond market with its third deal of this year, seeking at least $100 million of reinsurance from a Sanders Re III Ltd. (Series 2022-3) issuance that targets nationwide US, ex-Florida, multi-peril reinsurance protection for the company.
6. ILS NYC 2023 – Three months to go, register today!
   We are now only three months away from our next insurance-linked securities (ILS) market conference. Artemis ILS NYC 2023 is being held on February 10th in New York City. Register today to guarantee your place at the conference at the best possible price.
7. SCOR to adapt retrocession to reflect market appetite & cat exposure for 2023
   For global reinsurance company SCOR, 2022 saw the company adding new quota share sidecar capacity from third-party investors to its retrocession program, as it looked to add more diversification to its retro capital sources, while strengthening its retro protection.
8. Zurich could not renew cat agg reinsurance if market too challenging: CFO Quinn
   Giving a signal as to how the very large carriers of the world may choose to navigate a harder reinsurance renewal environment, George Quinn, the CFO of Zurich, explained that the company could elect to not renew its catastrophe aggregate treaty if the price was too high.
9. COP27: World Bank to launch Global Shield Financing Facility (GS-FF)
   At the COP27 climate change conference, the World Bank announced the launch of the Global Shield Financing Facility (GS-FF), which will be an important new financing structure to channel capital to protect vulnerable nations against climate and disaster risks.
10. Tailwinds for a widespread hard reinsurance market: Munich Re CFO Jurecka
    Munich Re’s CFO Christoph Jurecka explained that the current situation in reinsurance provides the necessary tailwinds for a widespread hard market in 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 34 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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