Best of Artemis, week ending 25th October 2020

Here are the ten most popular news articles, week ending 25th October 2020, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics.To ensure you never miss a thing or get our email alerts for every article we publish..

Hiscox Re & ILS, the global reinsurance and insurance-linked securities (ILS) division of the Hiscox Group, has announced the hiring and appointment of well-known industry executive Kathleen Reardon as its new CEO.Alissa Fredricks, the former CEO of Markel CATCo’s Bermuda operation, is planning to launch a new insurance-linked securities (ILS) fund manager, which to begin will have a focus on developing next-generation retrocessional reinsurance products.Mexico’s Fund for Natural Disasters (El Fondo de Desastres Naturales), more commonly known as FONDEN, is set to be dismantled along with more than 100 other government funded public trusts, as lawmakers in the senate voted to reform this area of public funding.

Kettle Re is launching as a reinsurance provider utilising deep-learning and artificial intelligence to create proprietary risk models and analytics that can help it more accurately and sustainably price climate-linked exposures, starting with wildfires.The rapid growth of ESG (environmental, social, governance) appropriate investment products is set to create a “paradigm shift” in investment markets, which could lead to more than 50% of European mutual fund assets invested in ESG funds as soon as 2025, according to PwC.PartnerRe, the Bermuda headquartered and EXOR owned reinsurance company, is set to make third-party capital an even more central component of its business model, with the hiring of Andrew Hughes from Hiscox ILS, who will take on the role of CEO Third Party Capital.

Root Insurance, the auto insurtech company, has said in its initial public offering (IPO) documentation that it uses insurance-linked securities (ILS) backed reinsurance capacity to help it manage volatility in its business.Pandemic risk insurance and reinsurance needs a new paradigm of how we access capital markets for risk bearing capacity, as it is bigger than just the reinsurance and insurance-linked securities (ILS) markets we know of today.Insured catastrophe losses around the globe continue to run ahead of average for 2020 after September, analyst firm Jefferies said, explaining that because frequency appears to be the main driver of losses this year it is likely primary carriers will retain a significant proportion of the costs so far.

Global reinsurance firm Munich Re has pre-announced an expectation of another significant claims burden from the COVID-19 pandemic, as well as an above-average level of natural and man-made catastrophe losses for the third-quarter of 2020.This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago..

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Publisher: Artemis