Best of Artemis, week ending February 4th 2024

Here are the ten most popular news articles, week ending February 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.

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

Aon calls for Clear Blue’s lawsuit over Vesttoo fraud to be dismissed
Aon has filed a motion calling for the New York state lawsuit that fronting specialist Clear Blue Insurance filed against it, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo, to be dismissed in its entirety.
World Bank to scale-up access to catastrophe bonds and reinsurance capital
The World Bank announced a significant expansion of the use of catastrophe bonds, reinsurance and instruments such as parametric risk transfer for countries exposed to large-scale disasters, with an ambition to embed catastrophe insurance and risk transfer instruments more deeply into its financing operations.
Aon recognises $197m Vesttoo related legal settlement expense
Broking giant Aon has recognised a significant legal settlement expense reserve amounting to $197 million related to the Vesttoo fraud scandal in its fourth-quarter of 2023 results.
Nephila fund revenues rise at Markel, cat and specialty ILS programs grow
In reporting its full-year 2023 results, Markel Group has highlighted higher insurance-linked securities (ILS) revenues from the managed ILS funds of its Nephila Capital unit, while program premiums ceded to Nephila reinsurance structures have soared.
Aon placed cyber ILS for one of the largest European corporates: Andersen
Aon has successfully taken the structure it created for the first 144A cyber catastrophe bond and repurposed it to place a cyber insurance-linked securities (ILS) solution for one of the largest corporations in Europe, President Eric Andersen divulged today.
Phoenix hires Julia Henderson, finances non-cat P&C reinsurer Gryphon
Phoenix Merchant Partners, LP, a middle-market focused investment firm, has announced the closing of its debut transaction, that finances a non-catastrophe P&C reinsurance company named Gryphon Holdings, while also announcing the hire of Julia Henderson as Managing Director, Insurance Solutions.
Catastrophe bond market yield stabilising at around 12%: Plenum
Having peaked with a market yield of around 16% back in January 2023, the catastrophe bond market has moderated, but remains very attractive, with the cat bond market yield now stabilising at around the 12% level (in USD), Plenum Investments believes.
Reinsurance costs drive 42% NC homeowners rate increase filing: Assured Research
The rising cost of reinsurance is identified as the key driver of a recent North Carolina homeowners insurance rate filing that indicates a 42.4% increase, according to research and advisory firm Assured Research.
Descartes expands parametric solutions beyond cat, with first cyber offering
Demonstrating its appetite to deliver parametric insurance and data-driven risk transfer solutions beyond natural catastrophe, weather and climate risks, specialist Descartes Underwriting has launched its first parametric cyber offering.
First cyber cat bonds a watershed moment: Moody’s RMS video interview
The successful issuance of the first full cyber catastrophe bonds in late 2023 was a watershed moment and the role of risk models in helping insurance-linked securities investors get up to speed on what is still a relatively new peril to the ILS sector was key, executives at Moody’s RMS told us.

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 35 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.

View the current breakdown of the ILS market in our range of charts, allowing you to analyse cat bond issuance.

Check out the assets under management of the ILS fund market with our ILS investment manager directory.

Get listed in our MarketView directory of professionals.