reinsurance

Having made a big and successful bet on property catastrophe risks in 2023 that saw the company writing significantly more in property reinsurance premiums in the first-half of 2023, Warren Buffett’s Berkshire Hathaway has taken a different stance in the second-quarter of 2024.

Here are the ten most popular news articles, week ending August 4th 2024, 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.

Investor and private equity giant Apollo Global’s CEO Marc Rowan has hailed the completion of its latest successful capital raise for a new vintage of the life and annuity focused reinsurance sidecar structure for reinsurer Athene as “the largest equity sidecar in the industry.”

AIG believes the collateralized reinsurance market is recovering and is back at its highest level, in limit terms, since 2016. In addition, the company believes it buys roughly 50% of global aggregate capacity provided by the ILS market, according to its CEO Peter Zaffino.

According to reinsurance broker Guy Carpenter, CrowdStrike is not a particularly significant cyber catastrophe event and only represents a “Kitty Cat”, or mid-sized catastrophe loss, while the broker estimates industry losses will be between $300 million and $1 billion.

Today we are pleased to announce some more speakers who will be joining our catastrophe bond and insurance-linked securities (ILS) market conference in London on Tuesday September 3rd. Early Bird tickets for Artemis London 2024 are still available, so register soon to secure the best price attendance.

Hedging and portfolio management actions undertaken by Nephila Capital, the insurance-linked securities (ILS) operation of Markel, are in the best interests of investors in the face of a potentially active hurricane season, Jeremy Noble, President of Insurance at Markel explained today.

The Texas Windstorm Insurance Association (TWIA) saw the overall rate-on-line across its reinsurance and catastrophe bond program that is in-force for the 2024 into 2025 period rise to 9.6% and as risk transfer comes with higher costs attached, the insurer of last resort is looking to options to help manage that expense.

According to Marc Grandisson, Chief Executive Officer of Arch Capital Group, there is an art to underwriting at this stage of the reinsurance market cycle and it’s all about knowing how hard to push and when to pull back.

Global reinsurance firm Hannover Re has announced that employee Michael Eberhardt will become its new Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda.