Best of Artemis, week ending 30th May 2021

Here are the ten most popular news articles, week ending 30th May 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.Collateralized reinsurance renewals firmer than cat bonds or ILW’s While the catastrophe bond market has been first to experience investor-demand and capacity driven softening, as spreads have increasingly tightened on primary issues over recent months, this isn’t yet reading across to the entire collateralized reinsurance market at the mid-year renewal season.

Start-up reinsurance capital weighs on renewals as much as cat bond rates Recent low rates and strong execution in the catastrophe bond market is not the only thing weighing on reinsurance rates around this mid-year renewal season, there is also start-up and newly raised capital to consider.Lloyd’s advancing ILS investor discussions on London Bridge Risk use Lloyd’s is said to be in “advanced discussions” with some major investors that are looking to use its insurance-linked securities (ILS) structure, the multi Insurance Special Purpose Vehicle (mISPV) named London Bridge Risk PCC Ltd.BGC to sell brokers Ed and Besso to The Ardonagh Group for $500m BGC Partners has announced that it has reached an agreement to sell its Corant Global insurance and reinsurance broking businesses, including brands Ed Broking Group Limited and Besso Insurance Group Limited, to The Ardonagh Group Limited for a $500 million cash consideration.

Seasonal forecast raised to 9 Atlantic hurricanes, 4 major for 2021, by TSR Tropical Storm Risk (TSR) has increased its forecast for the 2021 Atlantic hurricane season in its latest update, with the team now predicting 9 Atlantic hurricanes, 4 of which are forecast to be major Category 3 or greater.Liberty Mutual returns for $240m Mystic Re IV indemnity cat bond Insurance giant Liberty Mutual has returned to the catastrophe bond market for the second time in just six months, quickly coming back with a $240 million Mystic Re IV Ltd.(Series 2021-2) transaction, which sees the carrier looking for indemnity reinsurance cover for hurricane and earthquake loss events.

Insurers “dodge a bullet” as renewal pricing spread too narrow: JMP Primary insurers in Florida and elsewhere that are renewing their reinsurance programs for June 1st 2021 are set to come out of the renewal season largely unscathed, as reinsurance pricing faltered and came in below expectations, analysts at JMP Securities have confirmed.Aon / WTW: Willis Re sale supported, as industry wants broker choice It seems that the carrier side of the industry is largely very supportive of the sale of Willis Re as part of the preparations for Aon’s acquisition of rival Willis Towers Watson (WTW), as it maintains choice in the reinsurance broking marketplace.Uncertainty around climate change implications should not prevent action: Aeolus Uncertainty around the potential implications of climate change for the insurance and reinsurance industry should not be a barrier to incorporating climate-related risk analysis into decision making, according to Aeolus Capital Management Ltd.

Ariel Re’s Syndicate 1910 seeks first cat bond with $150m Titania Re Another new sponsor has entered the catastrophe bond market, with Ariel Re’s Lloyd’s of London Syndicate 1910 set to benefit from a targeted $150 million of retro protection from a Titania Re Ltd.(Series 2021-1) cat bond issuance.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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