Best of Artemis, week ending May 8th 2022

Here are the ten most popular news articles, week ending May 8th 2022, 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.Swiss Re not optimistic on Florida reinsurance pricing: CFO Dacey The reinsurer looks set to remain underweight on Florida reinsurance business, as unless the market accepts its view of risk, the company is unlikely to expand in the state and lacks optimism on the potential for pricing to rise adequately, its CFO John Dacey explained.

Florida – “The theatre is on fire,” FHCF change won’t solve it: RenRe CEO Commenting on the potential for legislative reform in the challenged property insurance market of Florida, RenaissanceRe CEO Kevin O’Donnell remarked that a reduction in the FHCF attachment point will change nothing for his reinsurance firm’s view of risk in the state.More cat profit, less exposure = an outstanding trade: Everest CEO Andrade As Everest Re hones its portfolio, to lower its property catastrophe exposure in a firming market, the company is finding this trade of more profit, for less exposure, to be an outstanding one, according to CEO Juan Andrade.Australia’s 2022 floods confirmed most costly, inflation a driver Based on actual claims costs, the Insurance Council of Australia has now updated its estimate for insured losses from Australia’s 2022 severe flooding to AU $3.35 billion.

Hannover Re’s capital markets mortality swap pays on COVID impact The reinsurer has been placing tranches of mortality swaps into the capital markets for almost a decade and in recent quarters this strategy has paid off for the company, as its COVID pandemic losses drove its mortality rate higher and triggered recoveries under the swap arrangements.Cat bond spread widening & uncertainty to be relatively short-lived: Aon The current period of spread widening and uncertainty in the catastrophe bond market has been driven largely by external forces, rather than losses, according to Aon, leading the broker to suggest it will be “relatively short-lived.” Leveraging climate research in ILS decision-making: Aeolus interview This new Artemis Live video saw us interviewing senior executives at insurance-linked securities (ILS) and reinsurance investment manager Aeolus Capital Management.RenRe adds $1.4bn to ILS structures & joint-ventures in 2022 so far RenaissanceRe, the Bermuda headquartered reinsurance underwriting firm and third-party capital manager, has added just over $1.4 billion of capital to its range of insurance-linked securities (ILS) structures and joint-venture vehicles so far in 2022.

Allstate targets $250m+ catastrophe bond as part of Florida renewal US primary insurance giant Allstate is seeking Florida focused reinsurance coverage from a catastrophe bond for the first time in two years, with a $250 million or greater Sanders Re III Ltd.(Series 2022-2) multi-peril issuance now in the market.To ensure progress in Florida reinsurers could pull capacity: Assured Research In order for progress to be made in reforming and fixing Florida’s property insurance crisis, analysts at Assured Research have said that the only way to move forwards may be for reinsurance underwriters to pull capacity from the state.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days..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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Publisher: Artemis