Best of Artemis, week ending July 16th 2023

Here are the ten most popular news articles, week ending July 16th 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.

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Ten most read articles on Artemis.bm, week ending July 16th 2023:

Nephila writes $756m of Florida Citizens renewal, Berkshire takes $1bn
Nephila Capital has written just over $756 million of the $2.98 billion reinsurance placement by Florida Citizens at the renewals in 2023, but Berkshire Hathaway was the largest participant with a huge $1 billion line.
Vesttoo targets $109m investment-grade Vescor 2023-1 non-cat ILS note issuance
Vesttoo has an investment grade ILS deal in the market, with circa $109 million of ‘BBB’ rated Vesttoo Bermudian Bay Ltd. (Vescor Series 2023-1) notes on offer.
AXA reportedly looking to offload reinsurance arm
Reuters reported that AXA is looking to sell its reinsurance arm under AXA XL, as it looks to reduce its exposure to natural disasters.
ILS Asia 2023: Education still critical in relatively untapped region
The Artemis ILS Asia 2023 conference marked our first in-person return to Singapore and the Asian region since 2019 and while there are marked differences in the conversation surrounding insurance-linked securities (ILS) and the use of reinsurance capital, it is clear the region remains relatively untapped, on both an investment and risk basis.
UCITS catastrophe bond fund AUM rises 18% to near $10.4bn in H1 2023
Reflecting very strong market activity in the first-half, catastrophe bond funds in the UCITS format saw their combined assets under management (AUM) rise by over 18%, to reach a new record-high of nearly $10.4 billion by the end of June 2023.
Non-life hard market to continue, especially in property: Swiss Re
The global insurance market is expected to continue experiencing a hard market in non-life risks through the rest of this year at least, with property risks an area of particular focus and also growth as premiums should continue to expand, Swiss Re has said.
Capital raised YTD still far below level needed to soften the cycle: J.P. Morgan
Capital raised in reinsurance and insurance-linked securities (ILS) year-to-date remains far below the level required to threaten the current hard market cycle, according to analysts at J.P. Morgan.
Cat bond growth “not incompatible” with prolonged hard reinsurance market: BofA
The BofA Securities analyst team say they are increasingly constructive on the reinsurance sector, one reason being that alternative capital growth is not being driven by the collateralized side of the ILS market, while catastrophe bonds are seen as a more compatible instrument and complementary to traditional reinsurance.
Meaningful industry shift up the catastrophe risk tower: Everest CEO
Commentary attributed to Everest Group CEO Juan Andrade helps to drive home the fact that reinsurance and so also many ILS strategies are now sitting higher up the catastrophe risk tower, with larger industry loss events required to meaningfully involve them in paying claims.
Augment launched as bespoke reinsurance broker with up to $100m backing from Altamont
A new, bespoke risk capital and reinsurance solutions broker called Augment has been launched to “revolutionize insurance risk arbitrage,” and is backed with up to $100 million in funding from private equity firm, Altamont Capital Partners.

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. 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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