Best of Artemis, week ending October 24th 2021

Here are the ten most popular news articles, week ending October 24th 2021, 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 24th 2021:

1. Munich Re forecasts “prolonged” reinsurance market hardening
   Munich Re said that “prolonged” market hardening is expected in reinsurance and also this week revealed €1.8 billion of catastrophe losses from third-quarter events hurricane Ida and the European flooding .
2. Humboldt Re acquired by run-off specialist Marco Capital
   Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, has now been sold to European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited.
3. Significant retrocession price increases expected: Swiss Re’s Reichelt
   Early indications suggest that retrocession prices will increase significantly at the January 2022 renewal season, as rates need to get to levels that are commensurate with the risks assumed, according to Frank Reichelt, Head Northern, Central & Eastern Europe, Swiss Re.
4. Global minimum tax may reduce Bermuda’s competitive advantage: Fitch
   The net profitability gap between Bermuda and non-Bermuda incorporated companies may narrow over time given the expected passage of the OECD-driven multilateral agreement to establish a 15% global minimum tax rate, according to Fitch Ratings.
5. Aon Hewitt advises Arkansas pension to wind-down Aeolus fund allocation
   Investment consultants continue to demonstrate the influence they have over institutional allocations to insurance-linked securities (ILS), as Aon Hewitt has now advised the Arkansas Teacher Retirement System to wind-down an allocation to an Aeolus Capital Management fund.
6. Beazley announces launch of ESG syndicate-in-a-box at Lloyd’s
   Beazley has now received in principle approval from Lloyd’s to establish its planned ESG focused consortium that will sit under its Market Facilities unit and leverage some third-party capital to underwrite risks that have been scored against environmental, social and governance (ESG) metrics.
7. Malinow’s Parameter Climate gets SiriusPoint investment & backing
   Parameter Climate, a parametric risk transfer and climate focused underwriter launched by well-known industry executive Marty Malinow, has received backing from specialty insurance and reinsurance player SiriusPoint, which has made an investment into the company.
8. NFIP’s early Ida estimate suggests no reinsurance or cat bond losses
   According to our sources, an early estimate of the National Flood Insurance Program’s (NFIP) losses from hurricane Ida suggests that its reinsurance program and catastrophe bonds are less likely to face any impact from the catastrophic event.
9. Next wave of climate ILS products in focus at Nephila Climate: CEO Rapin
   With the world attempting to speed a transition to lower carbon economies and the key Conference of Parties (COP 26) beginning at the end of this month, it was interesting to hear Maria Rapin, CEO of Nephila Climate explain that a key focus for the company is now on product development.
10. Ida triggers Travelers aggregate reinsurance in Q3, makes $95m recovery
    US primary insurer Travelers saw its catastrophe losses in the third-quarter of 2021 eat the rest of the way through its aggregate reinsurance treaty layer retention, resulting in a $95 million recovery during the period.

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.

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