Insurance-linked investments

The overall assets under management (AuM) of the main UCITS catastrophe bond funds as a group rose by almost $700 million during the fourth-quarter of 2022, as recovery of some cat bonds after hurricane Ian and fresh inflows helped the total increase 9% to reach $8.78 billion, a new year-end record high.

Global reinsurer Munich Re has now added to its collateralized reinsurance sidecar arrangements for 2023, with a second tranche of notes now issued by its Eden Re II Ltd. vehicle, taking the total issued so far around this renewal to $131.1 million.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced the hiring of Hector Ibarra as its new Vice Chairman of Latin America (LATAM).

Well-known Bermuda-based insurance-linked securities (ILS) market executive Sal Tucci has launched a new venture, Jireh Holdings Ltd., with the company set to bring ILS risk transformation, fronting and advisory services to clients, while a broader insurance management offering is also anticipated in future.

Catastrophe bond funds in a UCITS format only fell to a -2.3% negative annual return for 2022, according to the average weighted index of the Plenum CAT Bond UCITS Fund Indices.

The impacts and losses to insurance-linked securities (ILS) strategies from hurricane Ian this year were a “setback” for performance, but also another chance to reflect and double-down on portfolio management processes, according to Amundi US’ Chin Liu.

In order for new investor capital to flow to retrocessional ILS opportunities, the retro tier of the market must first demonstrate that it can make a margin over and above that earned in first-tier reinsurance, to compensate for a lack of transparency, James Vickers, Chairman International, Reinsurance, at Gallagher Re has said.

Today we announce the third wave of expert speakers who will be joining us at our next insurance-linked securities (ILS) conference, Artemis ILS NYC 2023 on February 10th in New York City. Please register soon to guarantee your place at the conference and as Early Bird rates are only available until Jan 9th.

After recording some impressive growth in 2022, and with current market dynamics calling for speed and efficiency, Artex Capital Solutions is optimistic about the years ahead for the insurance-linked securities (ILS) space, according to its Chief Executive Officer (CEO), Kathleen Faries.

Barry Gilway, the CEO of Florida’s property insurer of last resort Citizens Property Insurance Corporation, believes that after the enactment of new property insurance legislative reforms the Florida market will be more attractive to investor capital and that a “significant depopulation” of Citizens could happen as soon as after the next hurricane season.