Best of Artemis, week ending October 30th 2022

Here are the ten most popular news articles, week ending October 30th 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 October 30th 2022:

1. “End of free money” to impact reinsurance prices: Goldman Sachs
   According to Goldman Sachs equity analyst team, the “end of free money”, by which they are referring to the end of quantitive easing by Central Banks, is set to have ramifications for reinsurance pricing and also for the insurance-linked securities (ILS) market.
2. USAA returns for 40th catastrophe bond. Post-Ian pricing evident
   USAA has returned to the catastrophe bond market with a $150 million Residential Reinsurance 2022 Limited (Series 2022-2) that will be its 40th issuance and as the first cat bond since hurricane Ian, the deal provides a first glimpse of the post-Ian pricing environment.
3. All signs point to a true hard market: Brad Adderley, Appleby
   The reinsurance market looks set to undergo further hardening as the January renewals fast-approaches, and with insurance-linked securities (ILS) players struggling to raise capital and reports of deals failing to get done at any price, it could be a truly hard market, according to Brad Adderley, Bermuda Managing Partner, Appleby.
4. Vesttoo raises $80m in funding, taking valuation to $1bn
   Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has announced the completion of a Series C funding round sized at $80 million, which it says values the firm at $1 billion.
5. New capital unlikely to affect hard reinsurance market: JP Morgan
   With a “material move” in reinsurance pricing anticipated at the January 2023 renewal season, analysts at J.P. Morgan don’t believe new capital inflows will affect the trajectory of rates this time around.
6. More gainers than losers on cat bond pricing sheets last week
   Another positive signal that the catastrophe bond market may already have fully marked in loss expectations from hurricane Ian, is the fact that on secondary market cat bond pricing sheets, there were many more outstanding bonds that gained in price, than lost any further ground last Friday.
7. USAA’s Kirby Wisian to retire, with Swetonic to lead on cat bonds
   Kirby Wisian, a long-standing executive at USAA who has been instrumental in the primary military mutual insurers’ use of the insurance-linked securities (ILS) market and its regular Residential Reinsurance catastrophe bonds, is retiring from the company.
8. FHCF projects $10bn of losses from hurricane Ian
   The Florida Hurricane Catastrophe Fund’s (FHCF) actuaries are projecting a $10 billion loss for the Fund after hurricane Ian, with this significant support going to impacted insurance carriers as reinsurance recoveries.
9. Cat bond investment yields to stay at record levels: Twelve Capital’s Steiger
   After hurricane Ian, it’s likely spread widening already seen in the catastrophe bond market only gets wider, which means, alongside rising risk-free returns, cat bond investment yields are set to stay at record levels, Florian Steiger of Twelve Capital has said.
10. When it comes to ESG, governance should be a given in ILS: Albertini
    For the insurance-linked securities (ILS) market, the ‘G’, or governance, within ESG, should always have been a given, as the industry needs to have strong governance around its underwriting practices, Luca Albertini, CEO of Leadenhall Capital Partners explained to Artemis.

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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