Best of Artemis, week ending May 7th 2023

Here are the ten most popular news articles, week ending May 7th 2023, 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 articles on Artemis.bm, week ending May 7th 2023:

Florida’s DeSantis hails “commitment” secured from UK reinsurers
Having visited the United Kingdom last week, one of the locations on Governor of Florida state Ron DeSantis’ agenda was an event co-hosted by Lloyd’s of London where he met with reinsurance leaders to try and press home the improved situation in the Florida property insurance marketplace.
Inver Re hires PCS’ Johansmeyer as Global Head of Index
Inver Re, the Ardonagh Group’s reinsurance broking arm, has made a key hire in taking well-known industry executive Tom Johansmeyer from Verisk’s PCS unit, to become the brokers’ new Global Head of Index products, Artemis has learned.
Hurricane forecasts point to US and Florida risk for 2023 season
Two additional hurricane forecasts suggest that the United States eastern seaboard and Florida could face elevated threats this year, the main reason being the warmer than average SST’s seen in the Atlantic and also Gulf.
Florida “probably better”, but Swiss Re unlikely to be enthusiastic: CFO Dacey
The Florida insurance and reinsurance marketplace is “probably better” after the legislative changes that have occurred, although how impactful they will be remains uncertain and Swiss Re’s appetite for risk in the state sounds unlikely to increase significantly, according to comments by CFO John Dacey this morning.
Aon makes Andy Marcell CEO of Risk Capital
Aon is doubling-down on the application of reinsurance risk management techniques for its corporate client base, and as this becomes a key strategic angle for the company it has made Andy Marcell the CEO of Risk Capital, to oversee reinsurance, commercial risk and advanced analytics capabilities at the company.
Florida: Exposure management by any means necessary
Florida’s property insurance carriers face a challenging final few weeks up to their main reinsurance renewal and some insurers are taking steps to lower their exposure through the restriction of coverage, or availability of their policies, we’re told.
Allstate returns for $250m Florida focused Sanders Re III cat bond
US primary insurance player Allstate is back in the catastrophe bond market seeking protection for its Florida businesses, with a target for at least $250 million of multi-peril collateralized reinsurance from this Sanders Re III Ltd. (Series 2023-2) issuance.
RenRe raises $767m from investors. Medici cat bond fund hit $1.5bn
RenaissanceRe continued to have great success in raising funds from third-party investors for its range of joint-venture and insurance-linked securities (ILS) structures, adding just over $767 million so far in 2023, with its Medici catastrophe bond fund strategy taking more than half the inflows.
Capital “has to be rewarded” in cyber risk: Matt Harrison, Moody’s RMS interview
When it comes to underwriting cyber risks, capital, whether traditional insurance and reinsurance, or alternative from the insurance-linked securities (ILS) market, “has to be rewarded”, Matt Harrison from risk modelling and analytics specialist Moody’s RMS, told us in our latest Artemis Live interview.
Zurich and Pacific Life Re deliver £1.6bn bank pension longevity swap
Global insurer Zurich and life, longevity and annuity focused reinsurance firm Pacific Life Re have delivered a £1.6 billion longevity swap arrangement for the UK’s Yorkshire and Clydesdale Bank (YCB) Pension Scheme.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. There were 31 new articles published in the last week. To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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