No impact to our cat bond funds expected from hurricane Debby: Plenum
As hurricane Debby slowly moves inland over the Florida Panhandle and into Georgia and beyond, specialist catastrophe bond fund manager Plenum Investments has said it does not expect insured losses from the storm will negatively affect its cat bond funds. As we have reported, hurricane Debby formed over the weekend and read the full article →
Arch targets $163.2m Bellemeade Re 2024-1, the first mortgage ILS deal of 2024
Arch Capital is attempting to reopen the market for mortgage insurance-linked securities (ILS) with the first issuance of mortgage insurance-linked notes seen in 2024, seeking $163.2 million in capital markets backed mortgage reinsurance through Bellemeade Re 2024-1 Ltd. The major US mortgage insurers have been conspicuously absent from capital markets since read the full article →
ILS funds continue solid performance, average 4.37% return at half-year
The broad benchmark index for insurance-linked securities (ILS) funds, the Eurekahedge ILS Advisers Index, has delivered a 4.37% return for the first six months of 2024, which is the third best half-year performance in its history. The total would have been higher were it not for the catastrophe bond spread widening read the full article →
ARC pays $11.6m as drought triggers Malawi’s parametric insurance
The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products and risk pooling for countries and other entities in Africa, has made just over $11.6 million in payouts to Malawi and a replica partner the United Nations High Commissioner for Refugees (UNHCR) after drought triggered its parametric read the full article →
AXA launches heatwave parametric insurance in Hong Kong
Global insurance group AXA, through its Hong Kong and Macau branch, has announced the launch of a parametric insurance product tailored to respond to heatwave situations that can create heat stress for outdoor workers. The heatwave parametric insurance has been designed to provide enhanced protection for outdoor practitioners that work outdoor read the full article →
Hurricane Debby not expected to trouble catastrophe bond market: Icosa
As hurricane Debby approaches landfall, given the relatively sparsely populated landfall region the insurance and reinsurance industry exposure will be more limited, which has led investment manager Icosa Investments AG to say it does not expect any substantial impacts to catastrophe bonds from the storm. As we have been reporting, hurricane read the full article →
Allstate shrinks Florida reinsurance tower again, but adds to Nationwide top-layer
At the mid-year reinsurance renewals, US primary insurance giant Allstate has shrunk its Florida excess-of-loss tower again, opting for a lower-level of protection in the state, but has continued to build-out its Nationwide protection, adding again to the top-layer of that tower. It's a little unusual for Allstate to add more read the full article →
Berkshire Hathaway pulls-back on property reinsurance writings in Q2 2024
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. Berkshire Hathaway's P&C reinsurance businesses reduced their property read the full article →
Best of Artemis, week ending August 4th 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. read the full article →
Hurricane Debby strengthens and heads for landfall in Florida
Tropical storm Debby, the fourth named storm of the 2024 Atlantic hurricane season, has now become a hurricane over the Gulf of Mexico, with the NHC warning that additional strengthening is expected as hurricane Debby heads for landfall in the Big Bend area of the Florida Panhandle. Meteorologists had been watching read the full article →
