reinsurance

With catastrophe bond spreads rising alongside traditional reinsurance and retrocession, the market is now experiencing its biggest pricing reset since hurricane Katrina in 2005, according to Plenum Investments.

A fourth securitization of operational risks in a catastrophe bond format has now completed, Artemis can reveal, with $217.25 million of notes issued by Operational Re IV Ltd., assumed to be the latest example of a vehicle channelling a capital market investor source of operational risk insurance to investment banking giant Credit Suisse.

RenaissanceRe, the global reinsurance firm and third-party capital manager, has made a number of senior level promotions, the most relevant of which are Justin O’Keefe as Chief Underwriting Officer – North America and Bermuda, and Bryan Dalton as Chief Underwriting Officer – Property.

Today we announce the third wave of expert speakers who will be joining us at our next insurance-linked securities (ILS) conference, Artemis ILS NYC 2023 on February 10th in New York City. Please register soon to guarantee your place at the conference and as Early Bird rates are only available until Jan 9th.

After recording some impressive growth in 2022, and with current market dynamics calling for speed and efficiency, Artex Capital Solutions is optimistic about the years ahead for the insurance-linked securities (ILS) space, according to its Chief Executive Officer (CEO), Kathleen Faries.

Barry Gilway, the CEO of Florida’s property insurer of last resort Citizens Property Insurance Corporation, believes that after the enactment of new property insurance legislative reforms the Florida market will be more attractive to investor capital and that a “significant depopulation” of Citizens could happen as soon as after the next hurricane season.

The global insurance and reinsurance market, including insurance-linked securities (ILS), currently offers “one of the best entry points for investors in decades” according to Twelve Capital CIO and Founding Partner Urs Ramseier.

The new Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal from ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, could now upsize to $130 million, while pricing has risen to the top-end of guidance.

The pipeline for new catastrophe bond issuances looks like it is “potentially record breaking” as we move into the first-half of 2023, according to insight from Gallagher Securities.

Artex Risk Solutions, the captive, alternative risk transfer, ILS facilitation and capital solutions subsidiary of Arthur J. Gallagher & Co., has named long-standing executive Paul Eaton as its new Artex International Chief Executive Officer (CEO).