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.

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Ten most read articles on Artemis.bm, week ending August 4th 2024:

Tropical storm Debby forecast for hurricane strength landfall in Florida
Tropical storm Debby has become the fourth named storm of the 2024 season, with forecasts predicting intensification while over the Gulf of Mexico, the NHC warning of likely rapid intensification and that a hurricane Debby landfall is now expected for Florida.
ILS manager M&A resurgence is a strong signal for the market
Two important pieces of insurance-linked securities market merger and acquisitions (M&A) news came to light recently, both of which provide signals for those watching of the health of the sector and investor appetite.
Enstar completes $350m reinsurance deal for portfolio of 2019/2020 ILS business
Enstar has completed a legacy reinsurance deal for an insurance-linked securities (ILS) portfolio of 2019 and 2020 written business, which it has hailed as the first deal of its kind for a third-party capital platform and looks like the kind of trapped capital solution that many in the ILS market have explored in recent years.
PCS designates CrowdStrike as a cyber catastrophe loss event
Property Claim Services (PCS), the unit of Verisk that is a provider of industry loss estimates and loss data globally, has designated the recent CrowdStrike linked global IT outage as a PCS Cyber Catastrophe Loss Event, meaning industry insured losses are expected to reach above US $250 million.
AIG buys 50% of global ILS agg limit, sees collateralized reinsurance recovering: Zaffino
AIG believes the collateralized reinsurance market is recovering and is back at its highest level, in limit terms, since 2016. In addition, the company believes it buys roughly 50% of global aggregate capacity provided by the ILS market, according to its CEO Peter Zaffino.
BNP Paribas may acquire ILS fund manager, as it seeks to buy AXA Investment Managers
BNP Paribas, the European and international banking giant, is in exclusive negotiations with insurance and reinsurance group AXA to acquire 100% of its AXA Investment Managers division, a deal that would include the latter’s ILS fund manager unit.
Collateralized / ILS take 66% of Florida Citizens reinsurance renewal, Nephila $587m
Collateralized capital markets backed reinsurance capacity and insurance-linked securities (ILS) fund managers have taken roughly two-thirds of Florida Citizens traditional reinsurance tower at the recent renewals, with Nephila Capital remaining the largest of those markets.
Munich Re estimates global insured disaster losses at $62bn for H1 2024
Reinsurance giant Munich Re has estimated that global insured natural disaster losses from the first-half of 2024 reached US $62 billion, which is slightly up on the previous year.
Chubb lifts top of US property cat reinsurance tower 62% to $5.7bn
Chubb has seen a further significant increase in the amount of retained catastrophe losses it will need to bear in the United States under its global property catastrophe reinsurance tower, as the US retention has increased by 59% and the company has significantly expanded out the top-layers of cover instead, with a core focus on named storms and earthquakes.
Apollo gets $6bn of commitments for Athene’s ADIP II sidecar
Investor and private equity giant Apollo Global’s CEO Marc Rowan has hailed the completion of its latest successful capital raise for a new vintage of the life and annuity focused reinsurance sidecar structure for reinsurer Athene as “the largest equity sidecar in the industry.”

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 32 new articles published in the last week.

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