Best of Artemis, week ending February 26th 2023

Here are the ten most popular news articles for the week ended February 26, 2023 covering cat bonds, ILS, reinsurance capital and related risk transfer topics. To make sure you don’t miss a thing, subscribe to the weekly Artemis email newsletter updates or receive our email alerts for every article we publish.

Top 10 most read articles on Artemis.bm, week ending February 26, 2023:

1. Chile is targeting a $150m earthquake parametric bond through the World Bank’s IBRD
   The Republic of Chile is aiming to secure $150 million in parametric earthquake-related catastrophe coverage through a new cat-bond insurance policy.
2. UCITS cat bond fund returns set new record for strongest start to a year
   Cat bond mutual funds structured in UCITS format have reported a record start to the year, with the average return of the leading UCITS cat bond funds so far in 2023 reaching 1.77%.
3. Optimism in Florida, but capital may not bounce back any time soon: ILS NYC 2023
   All of the changes passed at the last special session in Florida will have a positive impact on the region’s real estate market, but the benefits need to be proven before reinsurers and insurance-linked securities (ILS) markets really jump back in, according to experts across the space .
4. Long-standing investor relationships contributed to K-Cession’s growth: Sehm & Ludolphs from Hannover Re
   At its January renewal, global reinsurer Hannover Re leveraged its long-standing relationships with investors to grow its K-cession quota share sidecar structure to a record size, ultimately helping the firm better meet its cedants’ demand for natural catastrophe capacity support .
5. Florida Reinsurance Rules of Engagement Redefined by Reforms: Demotech
   For reinsurance capital, the rules of engagement in the Florida property insurance market have been redefined thanks to the wave of significant legislative reforms that have enacted.
6. Kin returns with $100 million Hestia Re 2023-1 for second Florida cat bond
   Kin Insurance has returned to the catastrophe bond market to sponsor its second issue targeting $100 million or more in Florida called Storm Shelter.
7. SageSure, SURE & Swiss Re celebrate the largest catastrophe bond since Hurricane Ian
   Following the completion of their new catastrophe bond transaction, Gateway Re Ltd. (Series 2023-1) Up 78% to $355 million, coastal property insurance underwriting group SageSure, its SureChoice underwriters Reciprocal Exchange (SURE) and broker Swiss Re have all welcomed the fact that it is the largest cat bond -Deal since Hurricane Ian.
8. Gallagher Re’s McManus to lead Bermuda ILW and index cat bond capabilities
   Reinsurance broker Gallagher Re has appointed industry loss warranty (ILW) and retrocession broker Alex McManus to head its index-based capabilities in Bermuda.
9. Insured loss from Turkey earthquake projected to exceed $5bn: Moody’s RMS
   Moody’s RMS announced today that it believes the earthquakes that struck Turkey on Monday 6 February will result in over US$25 billion in economic losses and over US$5 billion in insurance losses – and reinsurance market will cause.
10. Munich Re Retro shrinks slightly but still $513m in secured sidecars for 2023
    Global reinsurance giant Munich Re’s retrocession program has shrunk slightly for 2023 as the company navigated the challenging market environment yet secured $513m in secured capacity for its quota-share sidecars.

This is not every article published on Artemis in the last week, just the most popular among our readers in the last 7 days. 28 new articles were published in the last week. To stay up to date with Artemis and never miss a story, subscribe to our weekly email newsletter, which is sent out every Wednesday.

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