reinsurance

Artex, the captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary of Gallagher, has announced the launch of its first Vermont protected cell company, named Artex Axcell PCC (Vermont), Inc.

Quota share reinsurance focused investment manager Tangency Capital Ltd. has had continued success in raising assets through the first-half and mid-year renewal season, adding $400 million in assets to reach now $1.8 billion in ILS AUM.

Reinsurance broker Guy Carpenter is rolling out a new parametric flood product that has been designed to enable risk transfer for large portfolios of exposure across wide-areas. The FloodShield triggers are structured with the help of Floodbase, KatRisk, and ICEYE, plus this could be a solution that utilises ILS market capacity in future.

Here are the ten most popular news articles, week ending July 14th 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.

Yesterday it was a pleasure to welcome representatives of more than 90 organisations to our Artemis ILS Asia 2024 conference in Singapore and while the engagement of attendees from the region was as strong as ever, there has been a notable and positive shift in interest to the investor-side of the equation.

While cyber insurance pricing seems to have levelled off in 2023, rating agency AM Best noted that more can be done to attract capital to the segment, including through the provision of greater clarity on cyber risks that are considered systemic.

A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor.

Singapore sees continued interest from sponsors, investors and specialist insurance-linked securities (ILS) managers, with a few of the latter considering establishing offices there, Cheng Khai Lim, Executive Director, Financial Markets Development Department, Monetary Authority of Singapore (MAS) said in a welcome speech at our ILS Asia 2024 conference yesterday.

CoreLogic, the risk modelling and catastrophe data company, has updated its estimate for industry insured losses caused by recent hurricane Beryl, now putting the total for Texas wind losses at between $2.5 billion and $3.5 billion.

Global Parametrics, the parametric and index-based disaster risk transfer company, has partnered with One Acre Fund to provide smallholder farmers in Zambia and Malawi with financial protection against the adverse impacts of drought on their crops.