Canopius promotes Craigs to Group Head of Reinsurance in restructure

Specialty insurance and reinsurance group Canopius has announced a restructure and has named Charles Craigs, who has led much of the firm's activities in insurance-linked securities (ILS) and third-party capital, as its new Group Head of Reinsurance. Craigs already had a broad reinsurance and ILS focused remit at Canopius, being the read the full article →

Florida insurance reforms signed into law, uncertainty to persist

Florida's property insurance-focused special session of the legislature has now drawn to a close with the signing into law of a package of reforms by Governor Ron DeSantis, but for the insurance and reinsurance market uncertainty is set to persist as it will take time for the broad effects of read the full article →

Reforms won’t have immediate positive impact on reinsurance in Florida: Survey

One of the most telling and timely findings of our latest global reinsurance market survey is related to a topic we've been covering regularly of late, the special session of the Florida legislature and its proposed property insurance market reforms. Timeliness is everything and just yesterday the package of reforms cleared read the full article →

Florida property reforms pass House, but reinsurers to remain sceptical

Progress on property insurance reform continues in the state of Florida, with the first bill from the special session now passing through the legislature having been approved on the House floor, to now make its way to the Governor for signing. But the reinsurance market is likely to remain sceptical of read the full article →

45% expect to use more ILS & third-party capital at renewals: Survey results

We've just published the results of our latest global reinsurance market survey, in which we polled market participants on the state of the market as the key mid-year renewal season fast-approaches. Artemis and our sister publication Reinsurance News polled our email and Linkedin subscribers over the last ten days, asking a read the full article →

Florida insurance reforms pass Senate, but may not save all carriers

Florida's lawmakers continue to progress new legislation that they hope will stabilise the states dysfunctional property insurance market, with the package of bills now passing the Senate and heading to the House today. This is the second hurdle for the property insurance reforms, after they passed a committee on Monday. During a read the full article →

Florida’s insurance carriers over-litigated, not under-capitalized: Demotech’s Petrelli

Florida's insurance carriers face one problem above all others, the fact that they are over-litigated and being badly affected by a litigious property insurance claims environment where fraud has been de rigueur. This is according to Joseph Petrelli, President and Co-Founder of rating agency and consultant Demotech, Inc., who believes it read the full article →

Swiss Re seeking $150m Matterhorn Re US wind cat bond

Global reinsurance giant Swiss Re has returned to the catastrophe bond market in search of per-occurrence US hurricane protection, seeking to secure a $150 million slice of retrocession through a new Matterhorn Re Ltd. (Series 2022-2) issuance, Artemis has learned. For its latest Matterhorn Re catastrophe bond, Swiss Re appears to read the full article →

Peak Re’s target for Black Kite Re cat bond raised to ~$150m

Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) has raised its target for its first ever catastrophe bond, with the Hong Kong domiciled Black Kite Re Limited (Series 2022-1) issuance now aiming to secure up to $150 million of retrocession for the company. Peak Re entered the catastrophe bond read the full article →

SCOR secures Atlas retro cat bond at $240m in size

Global reinsurance company SCOR has now secured $240 million of retrocessional catastrophe protection from its new Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond, Artemis can reveal. The reinsurer has been in the market with its latest catastrophe bond since earlier this month, with its latest Atlas insurance-linked securities (ILS) read the full article →