Hurricane Francine privately insured loss estimated close to $1.5bn: KCC
Private insurance market losses from recent hurricane Francine have been initially estimated as close to $1.5 billion by catastrophe risk modelling specialist Karen Clark & Company (KCC). As we reported last week, the market was expecting early estimates to fall in a range of around $1 billion to as much as read the full article →
Catastrophe bond market yield declines on peak hurricane seasonality
The seasonality effects of the peak of the US hurricane season approaching accelerated a decline in the overall yield of the catastrophe bond market in August, although it still ended the month at a very favourable 12.52%. US hurricane risk seasonality is a key driver of yield spreads in catastrophe bonds, read the full article →
Life reinsurance embraces third-party capital & sidecars: Damian Cooper, PWC Bermuda
The life reinsurance industry in Bermuda has embraced the use of third-party capital structures and investor relationships, with sidecars now an established and growing feature of the market, Damian Cooper of PwC Bermuda explained in a recent video interview. Our latest Artemis Live video interview is with Damian Cooper, an experienced read the full article →
AXA XL hires Chris Caponigro as Head of Reinsurance Capital Management
AXA XL, the global specialty insurance and reinsurance unit of the AXA Group, has announced the hiring of experienced reinsurance and ILS executive Chris Caponigro as its new Head of Reinsurance Capital Management. The addition of Caponigro is seen as a move to further strengthen its third-party capital offering by AXA read the full article →
Recent cat bond losses highlight loss creep potential: Icosa Investments
After three recent partial or full defaults of catastrophe bonds due to rising losses from prior period events, Swiss headquartered cat bond fund manager Icosa Investments AG has highlighted the risk of loss creep as something investors need to be aware of when allocating to the asset class. In an update, read the full article →
Hurricane Francine aggregate erosion to take some cat bonds nearer attachment: Twelve
Hurricane Francine's losses after its landfall in Louisiana are not anticipated to cause any losses to per-occurrence catastrophe bonds, but the losses may be sufficient to cause further attrition for aggregate cat bonds, resulting in a further erosion of the deductibles that sit beneath their attachment points, according to Twelve read the full article →
Best of Artemis, week ending September 15th 2024
Here are the ten most popular news articles, week ending September 15th 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. Ten most read the full article →
Polo offers optionality, unique proposition for ILS & Captive clients: CEO Elliott
Independent, licensed insurance manager, Polo Insurance Managers (PIM), offers optionality and a unique proposition, providing independent professional management services to ILS, Commercial and Captive clients, Chief Executive Officer (CEO) Mark Elliott told Artemis at this year’s RVS in Monte Carlo. Guernsey based PIM specialises in the creation and management of insurance read the full article →
Hannover Re may reduce K-Cessions sidecar for 2025. Reinsurers motivated to retain more risk
Artemis has learned that global reinsurance company Hannover Re is assessing its risk management need in relation to the K-Cessions quota share sidecar for the second year running and we're told other major reinsurers may also pursue this approach, as companies manage their portfolios and are motivated to retain profitable read the full article →
Property catastrophe reinsurance rates seen down ~5% at Jan 2025 renewal: KBW
According to analysts at KBW, property catastrophe reinsurance pricing is likely to decline around 5% at the upcoming January 2025 renewals, with a continued balance in supply and demand expected to help prevent a more significant softening. The analyst team met with companies at the 2024 Monte Carlo Reinsurance Rendez-Vous event read the full article →
