Best of Artemis, week ending January 28th 2024

Here are the ten most popular news articles, week ending January 28th 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 January 28th 2024:

Florida Citizens expects depopulation to accelerate in 2024: CEO
Presenting to the Florida House Insurance and Banking Subcommittee yesterday, Tim Cerio, the CEO of Citizens Property Insurance Corporation, said that depopulation efforts are expected to accelerate this year, while the ultimate goal is to reduce the policycount to around 400,000.
Aggregate reinsurance back on the table, lower layers see more support: Aon
A few signs emerged at the recent January 1st 2024 reinsurance renewals that bode well for protection buyers as we move through this year and into the next, as broker Aon highlighted that appetite is returning for some of the more challenged products and areas of the tower.
Aeolus Capital Management raises funds to grow AUM 40%+ to $5.5bn
Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, grew its assets under management considerably in time for the key January renewals, lifting the total by more than 40% to reach a new high of $5.5 billion.
Porch strikes $30m deal with Aon, releases all Vesttoo fraud claims
Porch Group, owner of a homeowners insurer that found a letter of credit (LOC) backing its reinsurance deal with insurtech Vesttoo was forged, has agreed a $30 million strategic arrangement with broking giant Aon that includes releasing all claims related to the fraud it had against the broker.
US property cat reinsurance rates up 116% since 2017: Guy Carpenter
Property catastrophe reinsurance rates-on-line slowed their trajectory significant at the January 2024 renewals, but in the United States while the slow-down was a little more severe than some other regions, US property cat reinsurance rates are now a stunning 116% up since 2017, according to Guy Carpenter’s Index.
Allstate moves top of our catastrophe bond sponsor leaderboard
With the recent settlement of its latest cat bond issuance, US primary insurance firm Allstate has now moved to the top position in Artemis’ catastrophe bond sponsor leaderboard, with an impressive almost $2.86 billion in risk capital outstanding.
Arch Re hires former Aeolus & Securis exec Roberts for third-party capital PM role
Arch Re, the global reinsurance arm of Arch Capital group, has hired experienced portfolio manager Christian Roberts from his most recent role at specialist reinsurance investment manager Aeolus Capital Management, to take on a third-party capital focused position at the company.
Chaucer looks to protect its Vesttoo-linked transaction cells from other creditor claims
Having recently filed to appear as a creditor in the Chapter 11 bankruptcy case of Vesttoo, international specialty insurance and reinsurance group Chaucer is now looking to protect the specific segregated cells that were used for its reinsurance transactions with the insurtech, against any leakage of value to claims made by other creditors to the case.
Reinsurance to stay firm at April, July renewals, but capital to slow trajectory: Moody’s
The reinsurance market is expected to remain firm, in terms of its pricing, at the next sets of major reinsurance renewals, at April 1st and July 1st 2024, despite some capital being expected to flow in, Moody’s Investors Service has said.
Insured catastrophe losses reach $118bn in 2023, with 69% protection gap: Aon
Global catastrophe losses falling to sources of insurance and reinsurance capital reached $118 billion in 2023, according to the latest estimate to emerge from broker Aon.

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 37 new articles published in the last week.

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