Reinsurance News
Artemis
A strong market, but important pricing holds long-term: Wightman, PwC Bermuda
6th March 2023
In an interview with our sister publication as part of the Artemis Live series of video interviews, Arthur Wightman, territory leader for PwC Bermuda, discussed what he describes as one of the hardest reinsurance markets. "The reinsurance industry across the main domains that operate here in Bermuda are doing well," said ... Read the full article
Reinsurers need evidence the tide is turning in Florida, says Gallagher Re’s Schwebach
28th February 2023
During an interview with AM Best TV at the annual Artemis ILS conference in New York on February 10th, Adam Schwebach, executive vice president, Gallagher Re explained how we are starting to see “the tide turn” within Florida’s insurance market. During the interview, he explained that current local market conditions, ... Read the full article
Cat bond investors secure higher pricing as Q4 issuance hits $1.6bn: Report
5th January 2023
In the final quarter of 2022, catastrophe bond and related insurance-linked securities (ILS) issuance fell when compared with the prior year quarter, but remained robust at $1.6 billion, helping the outstanding market hit a year-end high of $37.9 billion, according to Artemis. Our ILS-focused sister ... Read the full article
9M catastrophe bond issuance above-average: Report
5th October 2022
Catastrophe bond and related insurance-linked securities (ILS) issuance was particularly quiet in the third-quarter of 2022, but combined with a solid first-half of the year for the market, helped issuance for the nine-month period come in above-average at more than $8.9 billion, reports Artemis. The Q3 2022 ... Read the full article
Swiss Re launches catastrophe bond focused investment adviser
4th August 2022
Global reinsurance giant Swiss Re has enhanced its insurance-linked securities (ILS) offering with the launch of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), a new investment advisory entity with a particular focus on catastrophe bonds. According to Swiss Re, its new and wholly owned subsidiary, SRILIAC, adopts an investment strategy that ... Read the full article
Aeolus launched Florida-focused reinsurance facility at June 1 renewals
12th July 2022
Bermuda domiciled reinsurance and insurance-linked securities (ILS) focused investment fund manager, Aeolus Capital Management Ltd., launched a largely Florida-focused reinsurance facility at the June 1st, 2022, renewals, called Corbel, according to Artemis' sources. Our ILS-focused sister site, Artemis, reported yesterday that Corbel is mostly focused on providing reinsurance capacity to cedents ... Read the full article
Wave of new sponsors help Q2 catastrophe bond issuance hit $5.2bn: Report
5th July 2022
Artemis' second-quarter 2022 catastrophe bond and related insurance-linked securities (ILS) market report pegs issuance at approximately $5.2 billion for the period, which takes the outstanding market to a new high of $38.2 billion. The Artemis Q2 2022 Catastrophe Bond and ILS Market Report, which examines 27 transactions ... Read the full article
Important to separate shifts in hurricane exposure and climate trends: Aeolus
16th May 2022
When exploring the potential influence of changing climatic conditions on hurricanes, it’s important to recognise that trends in exposure may be even more important than trends in climate change, according to Dr. Pete Dailey, Head of Research at Aeolus Capital Management. Earlier this month, our sister site ... Read the full article
Cat bond issue in Q1 2022 continued 2021 boon: Gallagher Re
11th April 2022
Cat bond issue in Q1 2022 was a continuation of the boon year that was 2021, according to Gallagher Re’s latest 1st View. This was, said the firm, seen in both terms of deal count and the total volume of issuance. These numbers reflect the latest data from our insurance-linked securities ... Read the full article
Busy first quarter sees outstanding cat bond & ILS market hit new high: Report
4th April 2022
Data from our insurance-linked securities (ILS) focused sister site, Artemis, shows that catastrophe bond and related ILS issuance surpassed $3.5 billion in the first-quarter of 2022, taking the outstanding market to a new record high of approximately $37.5 billion. Artemis' latest quarterly report on the market, Q1 ... Read the full article
FEMA taps capital markets for $450m of flood reinsurance for NFIP
24th February 2022
The U.S. Federal Emergency Management Agency (FEMA) has again turned to the capital markets to secure an additional $450 million of reinsurance for the National Flood Insurance Program (NFIP), via its fifth FloodSmart Re Ltd. catastrophe bond transaction. The issuance of FloodSmart Re Ltd. (Series 2022-1), FEMA's special purpose insurer, ... Read the full article
AXIS hopeful upward rate momentum will continue: Ann Haugh
21st February 2022
After a late January 1st, 2022, reinsurance renewals season with evident disruption, Bermuda-based AXIS Capital Holdings Limited feels that some of the positives suggest a continuation of the current rate and market environment, according to Ann Haugh, the firm's President of Global Property Reinsurance. Executives from global insurer ... Read the full article
Political violence losses can come where re/insurers don’t expect them: Johansmeyer, PCS
14th February 2022
Just weeks after unrest in Kazakhstan that began with peaceful protests before turning violent, claiming the lives of 225 people, our sister site Artemis spoke with Tom Johansmeyer, Head of PCS, about political violence, unrest and what these events mean for the re/insurance market. This is the first ... Read the full article
Catastrophe bond market reaches $12.5bn – Aon
25th January 2022
Catastrophic bond issuance reached a huge $12.5bn in 2021, according to insurance and reinsurance broker Aon. This, said the broker, beats the previous record of $11bn, which was set in 2020. Paul Schultz, CEO of Aon Securities, said in a statement: “In addition to growth in scale, catastrophe bonds have evolved to ... Read the full article
Philippines set for $52.5m payout as typhoon Rai (Odette) triggers cat bond
25th January 2022
The government of the Philippines is set to receive a $52.5 million payout under its World Bank issued catastrophe bond, after risk modeller and calculation agent AIR Worldwide determined that super typhoon Rai (locally known as Odette) breached the trigger for wind. As first reported by Artemis, the Philippines government ... Read the full article
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