Best of Artemis, week ending 1st August 2021

Here are the ten most popular news articles, week ending 1st August 2021, 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.Go-it-alone challenge bigger for WTW than Aon.

An opportunity for AJG? As Aon’s $30 billion acquisition of rival Willis Towers Watson (WTW) has now collapsed, it leads to questions over how damaging the prolonged merger process may actually have been and whether that presents an opportunity to Gallagher (AJG)? FEMA plans new NFIP flood cat bond, seeks reinsurance transformer The U.S.Federal Emergency Management Agency (FEMA) is planning to sponsor another FloodSmart Re catastrophe bond to provide flood reinsurance to the National Flood Insurance Program (NFIP) and is seeking proposals from potential reinsurance transformer partners.R&Q marketing $500m Race Re collateralised legacy P&C sidecar Randall & Quilter (R&Q) Investment Holdings, the specialist non-life insurance and reinsurance legacy investor and program manager, is proceeding with plans for a collateralised legacy P&C risk sidecar vehicle, marketing an up to $500 million structure to investors, Artemis has learned.

Aon resets executive team after WTW deal collapse Broker Aon has reset its Executive Committee following the collapse of its acquisition of rival insurance and reinsurance broker Willis Towers Watson (WTW).SCOR reports strong P&C growth & price renewals, but adds COVID BI losses France headquartered global reinsurance firm SCOR has continued to rapidly expand its property and casualty book in improved pricing conditions over the second-quarter and into the mid-year renewal season.Flood insured losses now seen up to EUR 5.5bn in Germany: GDV German insurance association, the GDV, has raised its estimate of insurance market losses for damage from the recent flooding event to between EUR 4.5 billion and EUR 5.5 billion.

Red Cross targets cat bonds for nature-based, humanitarian, resilience financing The Red Cross, working alongside insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy Replexus Group, is developing a solution to promote nature-based solutions to disaster risk, financed partly through the use of catastrophe bonds, as well as other humanitarian and development scenarios.Asia market development to support non-cat ILS growth: Panellists Investments in non-catastrophe insurance-linked securities (ILS) can bring some significant benefits to investors, but for this market to develop in Asia, the region’s primary insurance market needs to evolve, according to industry experts.Chubb “firing on all cylinders”, as reinsurance growth accelerates It’s always interesting to hear what Chubb’s CEO Evan Greenberg is saying about the state of the market and after the second-quarter he is particularly bullish, describing his company as “firing on all cylinders” while saying he expects rate firming in commercial P&C lines to continue.

Cat bond not a “handout”, Jamaica aims to renew by itself: Minister The fact foreign donors paid for the premiums associated with Jamaica’s first catastrophe bond does not mean it was a “handout” the country’s Minister of Finance has explained.This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days..

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Publisher: Artemis