
Here are the ten most popular news articles, week ending 11th 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..
Nephila Capital is set to become the single point of entry for Markel to access property catastrophe reinsurance, as the company shutters its Markel Global Reinsurance property CAT unit and creates a centre of excellence for catastrophe risk under the ILS fund manager.In announcing its first-half results this summer, global reinsurance giant Swiss Re explained that it is experiencing and taking advantage of “significant rate hardening” across natural catastrophe exposed business lines.The insurance marketplace is not that far off a $300 billion loss year and it’s vital reinsurance and ILS markets price adequately for climate change risk, according to David Flandro, Managing Director of Analytics at Hyperion X.
Reinsurance cedants are increasingly concerned by the heavy use of retrocession and the gross to net strategy of some reinsurers, a survey from rating agency Moody’s suggests.Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, was the largest capacity provider to back a first transaction from a new financing solution for intellectual property assets created by broking group Aon.John Neal, CEO of Lloyd’s of London, explained that the insurance-linked securities (ILS) offering being developed for the market will be “different to Bermuda, but complimentary,” as he acknowledged Lloyd’s was slow to embrace the ILS opportunity.
The California Earthquake Authority (CEA) has elected to significantly upsize its latest catastrophe bond issue we can report, with its new Ursa Re II Ltd.(Series 2020-1) transaction now priced at $775 million in size, more than three times the initial amount of notes offered to investors.Whether an asset class has positive ESG (environmental, social or governance) characteristics is one of the hot topics of the investing world, so naturally a topic of focus in insurance-linked securities (ILS) at this time.
But it’s more than just a branding exercise in the ILS market, panellists made clear today.Wind related impacts and severe flooding and landslides from recent windstorm Alex that struck France and Italy are expected to drive billions in economic costs and hundreds of millions of losses to the insurance industry, according to Aon.Fidelis has returned to the catastrophe bond market for its second transaction, as the company looks to embed the capital markets more deeply within its reinsurance program arrangements with a $175 million Herbie Re Ltd.
(Series 2020-2) issuance.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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