Best of Artemis, week ending November 6th 2022

Here are the ten most popular news articles, week ending November 6th 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 6th 2022:

1. Ren Re CEO: Industry must incentivise investors or lose their capital
   During the RenaissanceRe third-quarter earnings call, CEO Kevin O’Donnell explained that the reinsurance and insurance-linked securities (ILS) industry has to provide returns to its investors and shareholders, or risk capital exiting the space.
2. Swiss Re expects “radical” price adjustment at January renewals: CFO Dacey
   Global reinsurance giant Swiss Re is anticipating a “radical” adjustment in prices at the January 1 renewal season, according to comments from its Chief Financial Officer (CFO) John Dacey.
3. AIG’s Zaffino: Expect very late renewals, no FOT’s for quite some time
   AIG CEO Peter Zaffino explained that the market should anticipate a “very late” reinsurance renewal season at the end of this year, with firm-order-terms (FOT’s) unlikely to be seen for “quite some time” yet.
4. On the brink of a major market correction: Lohmann, Schroders Capital ILS
   For the insurance-linked securities (ILS) market and global reinsurance capital, this time it’s different, concludes Dirk Lohmann, Chairman, Schroders Capital ILS, who analyses previous hard market periods and believe that we could be on the verge of the most pronounced market correction in decades.
5. Swiss Re cat bond index recovers some of the Ian decline. US wind up nearly 14%
   The catastrophe bond market index calculated by Swiss Re Capital Markets has recovered a relatively significant chunk of the ground lost after hurricane Ian, at its last calculation on Friday 28th October 2022.
6. Cat bond fund index starts post-Ian recovery. More significant gains to come?
   Catastrophe bond funds, as measured by the Plenum CAT Bond UCITS Fund Indices, appear to have hit the bottom of their hurricane Ian related decline, with a slight gain in the last week reported and we believe more gains to come according to other market signals.
7. Only scratching surface with respect to cat bonds: World Bank Treasurer
   When it comes to the use of catastrophe bonds in disaster risk financing, so far we’re only “scratching the surface”, in terms of what can be done using the cat bond structure, according to Jorge Familiar, Vice President and Treasurer of the World Bank.
8. Super typhoon Noru did not trigger Philippines catastrophe bond
   The calculation agent for the Philippines government’s World Bank issued IBRD CAR 123-124 catastrophe bond has now completed its analysis of recent super typhoon Noru’s winds and concluded that the storm wasn’t a triggering event and so no losses of principal will be suffered by investors in the cat bond notes.
9. Cat bond payback after Ian could be as fast as 6-8 months: Plenum
   The catastrophe bond market and its investors could earn back losses from hurricane Ian in as fast as 6 to 8 months, given the higher yield environment, which is now approaching post-Katrina levels, according to Plenum Investments.
10. Josh Stannack to become Head of TP ILS, with Emmerson to go part-time
    The insurance-linked securities (ILS) desk of Tullett Prebon, part of TP ICAP, will have a new leader, with Josh Stannack set to take on the Head of TP ILS position, and the desk’s founder Steve Emmerson will remain integral to the business in a part-time role.

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.

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