This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. It’s rare to find two asset management businesses that you can combine and not face friction, or loss of clients, but in the case of the merger of reinsurance and insurance-linked securities (ILS) investment managers Twelve Capital and…
Nat cat gap expands 5.2% to $385bn, but protection more available: Swiss Re
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The global natural catastrophe protection gap widened again in 2023, rising 5.2% to US $385 billion in premium equivalent terms, but at the same time Swiss Re reports that there are signs of more protection being available, which…
CrowdStrike event can build more confidence in cyber cat bonds: Hatzor, Parametrix
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The recent global IT systems outage caused by the CrowdStrike event can serve to build more confidence in cyber catastrophe bonds, as some of the biggest questions posed about this new segment of insurance-linked securities (ILS) were about…
Collateralized / ILS take 66% of Florida Citizens reinsurance renewal, Nephila $587m
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. 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. Florida’s Citizens Property…
Travelers buys more northeast cat reinsurance, as retentions & cat bond lift higher
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. US primary insurer Travelers has purchased a larger reinsurance program at the mid-year renewal season, adding more cover from its northeast catastrophe reinsurance protection. But its reinsurance retentions have increased, and Travelers has also lifted its catastrophe bond…
Property cat demand helped by cat bonds & appetite for retro: Doyle, MMC & Klisura, GC
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Senior leadership executives from Marsh McLennan and its reinsurance broking unit Guy Carpenter explained today that the catastrophe bond and insurance-linked securities (ILS) market has helped in meeting rising client demand for property catastrophe coverage. John Doyle, President…
Porch rejects Gallagher’s motion to dismiss Vesttoo reinsurance deal complaint
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Porch Group, the owner of insurer Homeowners of America Insurance Company (HOA) which was impacted by the Vesttoo reinsurance letter of credit (LOC) collateral fraud, has responded to broker Gallagher’s motion to dismiss the legal case Porch had…
Oxbridge Re raises $2.88m for EpsilonCat Re tokenized reinsurance sidecar securities
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has announced the successful raising of $2.88 million for its sidecar structure through EpsilonCat Re tokenized reinsurance securities issued by its subsidiary SurancePlus Inc. Oxbridge Re launched Web3 subsidiary…
Members Capital emerges to (re)diversify ILS capital with Ben Fox as CIO
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A new Bermuda-based asset manager has emerged named Members Capital Management Limited with well-known insurance-linked securities (ILS) industry executive Ben Fox in the Chief Investment Officer role and a mission to (re)diversify sources of reinsurance capital using digital…
Cat bond issuance on pace for a record year: Lara Mowery, Guy Carpenter
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Despite somewhat of an easing at the mid-year reinsurance renewals, insurance-linked securities (ILS) activity has been robust so far in 2024, and knowing what the rest of the year looks like right now, catastrophe bond issuance is on…