Best of Artemis, week ending April 24th 2022

Here are the ten most popular news articles, week ending April 24th 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.FedNat downgraded, posing another threat to Florida’s insurance ecosystem FedNat Holding Company, had its main insurer entity, FedNat Insurance Company, downgraded, but responded saying it intends to rectify the situation.

PCS says Ukraine insured losses could rise above $20bn The ultimate insurance and reinsurance industry loss from the ongoing conflict in Ukraine could rise above US $20 billion, according to analysis from PCS, a Verisk company, which has provided some data the ILS market may find helpful in understanding what, if any, exposure its structures may hold.Swiss Re stop-loss deal a “win-win”, ILS notes oversubscribed: Rüede Swiss Re’s landmark hybrid bank financing and insurance-linked securities (ILS) backed whole account stop-loss transaction was a “win-win” for the reinsurer and the investors backing the deal, with the ILS component of the arrangement oversubscribed due to its popularity, Philipp Rüede explained to Artemis.“Cause for concern” as AOB & litigated claims rise in Florida: CaseGlide CEO March saw a resurgence in the number of litigated property insurance claims at Florida’s largest P&C insurers, while litigated claims related to the assignment of benefits (AOB) increased at their fastest rate since 2019, according to CaseGlide.

Sustain ILS Management launched by Paschal Brooks & Justin Hull Sustain ILS Management has been launched by two well-known industry executives, as a new independent insurance-linked securities (ILS) investment manager with a focus on sustainability and environmental, social, governance (ESG) opportunities within ILS and reinsurance.Philippines seeks cat bond event calculation for storm Megi (Agaton) The Bureau of the Treasury of the Republic of the Philippines has issued a notice to the calculation agent of the World Bank issued IBRD CAR 123-124 catastrophe bond after the impacts of recent tropical storm Megi (locally known as storm Agaton).Eastern Australia floods industry loss near AU $4bn: PERILS PERILS AG gave a clearer picture of where we should anticipate the industry loss to insurance and reinsurance markets to settle after the eastern Australia flooding this year, putting its initial figure at close to AU $4 billion (close to US $3bn).

RMS names Michael Steel GM as CEO White departs Catastrophe risk modelling firm RMS, one of the leading insurance and reinsurance market analytics providers, has announced a change of leadership as its CEO departs and the company promotes from within to a new General Manager position.PRA to bring “flexibility & speed” to UK ILS, fast-track standard structures The Bank of England’s Prudential Regulation Authority (PRA) confirmed this morning that it is working on making changes to its insurance-linked securities (ILS) regime, with a view to bringing greater flexibility and speed to the regulatory process.Bermuda SPI’s and collateralized insurers reminded on Russia-Ukraine The Bermuda Monetary Authority (BMA) has issued a call for insurance-linked securities (ILS) vehicles domiciled on the island to adhere to international sanctions related to the ongoing conflict between Russia and Ukraine and to disclose any relevant information or impact related to it as it continues.

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