Best of Artemis, week ending October 22nd 2023

Here are the ten most popular news articles, week ending October 22nd 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 October 22nd 2023:

1. AXIS sponsoring the first 144a cyber cat bond, $75m Long Walk Re
   Specialty re/insurer AXIS Capital is set to become the sponsor of the market’s very first 144a cyber catastrophe bond, with a $75 million Long Walk Reinsurance Ltd. (Series 2023-1) transaction being marketed to insurance-linked securities (ILS) funds and investors.
2. As some exit, a new crop of investors are rotating in: Share, Oaktree Capital
   There is a new crop of investors rotating into reinsurance and ILS that may better understand the fundamentals of the space, according to Greg Share, Managing Director for the Opportunities Funds at investment firm Oaktree Capital Management L.P.
3. Howden launches Climate Parametrics unit, co-led by Douglas and Kusche
   Howden has launched a new Howden Climate Parametrics unit, to bring together its parametric risk transfer, climate risk and resilience, capital markets and insurance-linked securities (ILS) expertise, to deliver responsive risk transfer solutions.
4. Catastrophe bond market on-track for ~20% or more total-return in 2023
   The total-return of the outstanding catastrophe bond market in 2023 has now surpassed 16%, beating the previous record and staying on-track to deliver an investment return that might surpass 20% by year-end, which could, in future, be a challenging record to beat.
5. Parametric sovereign risk pools to explore joint reinsurance facility, capital markets access
   In what could turn out to be a ground-breaking development, parametric disaster insurance risk pools African Risk Capacity Limited (ARC), Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF), have signed an MOU and will explore a joint reinsurance facility to facilitate access to the capital markets.
6. Reinsurance “harder for longer”, alternative capital supply a factor: Berenberg
   Reinsurance rates and pricing are forecast to “remain harder for longer” in the current elevated interest rate environment, with a reduced supply of alternative capital expected to continue to be a driver, as institutional investors such as pension funds continue managing their allocation limits, analysts at investment bank Berenberg have said.
7. Beazley to sponsor 144a cyber catastrophe bond by year-end
   Beazley is at an advanced stage of planning for its first full Rule 144a cyber catastrophe bond, with an issuance expected by year-end to tie in with the maturity of its private cyber ILS deals and its cyber reinsurance renewal for January 1 2024.
8. BMS hires Swiss Re ILS structuring exec Andras Bohm to lead U.S. Capital Advisory
   Independent insurance and reinsurance broking group BMS Group has announced the hiring of Andras Bohm from Swiss Re as its new head of U.S. Capital Advisory and the CEO of BMS Capital Advisory, Inc.
9. Property cat reinsurance pricing to remain firm at 1/1: Guy Carpenter CEO Klisura
   Property catastrophe reinsurance renewals at January 1st 2024 are anticipated to see continued firm pricing conditions, with reinsurers looking to hold the line on terms and attachment points, according to Guy Carpenter President and CEO Dean Klisura.
10. Swiss Re expects up to €5bn new catastrophe reinsurance demand in EMEA
    Swiss Re said that it anticipates rising demand for natural catastrophe reinsurance, with up to €5 billion of additional demand expected for the EMEA regions cedents alone this year.

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 32 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.