Best of Artemis, week ending October 29th 2023

Here are the ten most popular news articles, week ending October 29th 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 29th 2023:

1. Hurricane Otis likely to trigger Mexico catastrophe bond payout
   The Government of Mexico’s catastrophe bond is expected to make a pay-out, as hurricane Otis rapidly intensified to a category 5 storm and its central pressure deepened sufficiently to trigger the exposed notes.
2. Vesttoo: The “Madoff of insurance”, trading forward a “wasteful pursuit”
   Creditors in the Vesttoo bankruptcy case objected strongly to the insurtech’s plans to attempt to trade forward, calling these efforts a “wasteful pursuit”, while Vesttoo later accused the creditors of undermining efforts to sell some of its assets.
3. Hard market more about restructuring than price from here: BofA Securities
   Commenting on the state of the global reinsurance market, analysts at BofA Securities Inc. believe that, while the hard market is deemed “here to stay”, reinsurers may now be more focused on further restructuring than price at the January renewals.
4. Hurricane Otis a “monumental” weather model miss: RMS
   Hurricane Otis slammed into Mexico’s Pacific coast as a significant category 5 storm with sustained winds of 165 mph and has caused significant damage, but its rapid intensification was missed by all the major weather models, which RMS’ James Cosgrove calls a “monumental” miss.
5. Reinsurance still imbalanced, between capital supply and demand: Kopff, Munich Re
   The global reinsurance market is still facing an imbalance between the rising demand for protection being seen and the fact inflows of capital to the sector remain sluggish, something Munich Re is not expecting to reverse any time soon, one of its executives said.
6. Securis promotes Le Moing & Auddy, adds NA, AUS, JP investor relations hires
   Securis Investment Partners, the London-headquartered insurance-linked securities (ILS) investment manager, has strengthened its business development and investor relations function with two promotions and two new global hires.
7. World Bank believes it could grow its cat bond issuance 400% in five years
   The World Bank has ambitious plans to expand its use of catastrophe bonds for member countries by roughly 400% over the next five years, growing the amount of World Bank issued cat bonds outstanding to as much as $5 billion, Bloomberg has reported.
8. Compulsory natural peril cover would unlock €10bn+ in reinsurance demand: Hannover Re
   Hannover Re believes that there could be a “meteoric”  increase in demand for reinsurance, with over €10 billion of incremental demand possible if compulsory natural peril insurance was implemented in Germany.
9. Schroders Capital names Stephan Ruoff co-head of Private Debt and Credit Alternatives
   Schroders Capital has given additional responsibility to its head of insurance-linked securities (ILS), with Stephan Ruoff now also becoming Co-Head of a newly formed Private Debt and Credit Alternatives (PDCA) business unit at the company.
10. Conditions primed for increased use of alternative reinsurance capital: GC’s Rousseau
    Reinsurance market conditions are primed for an increasing turn towards alternatives, in sourcing capital and risk transfer solutions, according to Laurent Rousseau of Guy Carpenter.

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 33 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.