Best of Artemis, week ending 5th January 2020

Here are the ten most popular news articles, week ending 5th January 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.A rebound in property catastrophe risk-linked transactions has helped issuance of catastrophe bonds and related insurance-linked securities (ILS) reach a record level in the fourth-quarter of 2019, with $3.3 billion of new deals recorded by Artemis.

The January 1st 2020 reinsurance renewal saw markets diverge, leading to wide variances in pricing and capacity across geographies and lines, while judicious reinsurers applied greater importance on relationships.Investment management giant PIMCO (Pacific Investment Management Company LLC) believes catastrophe bonds can be an ESG (environmental, social and corporate governance) appropriate investment, adding them as fixed income assets two of its new funds are able to allocate to.The January 2020 reinsurance renewals saw significant variation in market conditions and rates, as capital remained plentiful to help ceding companies secure their coverage requirements, but volatility in areas led to differing outcomes, according to Hyperion X.

Insurance claims from current season bushfires in Australia have now reached US $207 million (according to an Aon source), surpassing US $200 million according to the Insurance Council who now predict that losses will soar.The U.S.Federal Emergency Management Agency (FEMA) has now completed its traditional flood reinsurance program renewal, securing $1.33 billion of limit to cover the National Flood Insurance Program (NFIP) for 2020.

The government of the Philippines has failed to secure the necessary bids for reinsurance support to cover roughly US $19.6 of state assets and infrastructure, according to a report.A number of insurance-linked securities (ILS) fund managers have adjusted their Japanese typhoon Hagibis loss reserves or side pockets in November, resulting in some positive and negative movements, we understand.RenaissanceRe, the Bermuda-headquartered global reinsurance firm and third-party capital manager, has settled for a 60% upsizing of its latest catastrophe bond, with the Mona Lisa Re Ltd.

(Series 2020-1) cat bond transaction now priced at $400 million in size.AXIS Capital, the global specialist re/insurer headquartered in Bermuda, has issued a first tranche of notes from its collateralised reinsurance sidecar vehicle Alturas Re Ltd.for 2020, sponsoring a $64.14 million issuance to expand on the collateralised quota share arrangement.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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Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Health Insurance USA.
Publisher: Artemis