reinsurance

Louisiana’s Governor has now called a special session of the states legislature to address property insurance issues in the state, with the goal of creating the Insure Louisiana Incentive Fund to encourage more companies to underwrite business there.

Analysts at J.P. Morgan have estimated that insurance and reinsurance market losses from catastrophe events that occurred during the fourth-quarter of 2022 will fall below $10 billion.

Here are the ten most popular news articles, week ending January 22nd 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.

Hurricane Ian was an important test for the profitability of the global insurance and reinsurance market, according to analysts at Goldman Sachs and their comments read-across positively for the insurance-linked securities (ILS) market as well, as returns there also show the “strength of the cycle working through.”

Elevated, near-record returns and still-evident asset class diversification benefits, leave insurance-linked securities (ILS) and alternative capital in reinsurance poised for strong growth, according to Aon’s Reinsurance Solutions.

Increasingly, non ILS specialist capital is entering the catastrophe bond market, as many investors that have allocated before return, and this is helping to stabilize the market, according to Cory Anger of GC Securities.

Members of the Board of the Texas Windstorm Insurance Association (TWIA) expressed concerns over the potential cost of catastrophe bond coverage in 2023, having an expiring $400 million cat bond it wants to renew as part of a target to buy up to $2.92 billion of reinsurance for the coming storm season.

Rating agency AM Best has cited Vantage Risk’s insurance-linked securities (ILS) strategy, of moving catastrophe risk off its balance-sheet with the backing of third-party investor capital, as positive and able to drive income and reduce volatility.

Aspen Capital Markets, the third-party and alternative reinsurance capital management unit of global re/insurer Aspen, has announced the hiring of Chris Lee as Chief Operating Officer (COO), who joins the company from Hiscox Re & ILS.

As the catastrophe bond market continues to deal with the effects of the 2022 Atlantic hurricane season, Tom Johansmeyer, Head of PCS, Verisk Insurance Solutions, expects demand for industry loss triggers to persist for some time.