Best of Artemis, week ending August 14th 2022

Here are the ten most popular news articles, week ending August 14th 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..

Capacity is King, as reinsurance becomes precious: Aon When reinsurance capacity becomes scarce, or less available, as has been seen in Florida and at the mid-year renewals, capacity becomes “King” and those with availability of it are no doubt very popular.AIG to set up new third-party capital structure for HNW business: CEO American International Group (AIG) is looking to take control of its reliance on and access to reinsurance capital for its high-net-worth property business, and plans to set up a new third-party capital backed structure to support a shift of cat-exposed property underwriting to the non-admitted market.Visualising higher catastrophe bond pricing, multiples & spreads In recent months, if you’re interested in insurance-linked securities (ILS) or active in the ILS marketplace, you could not have missed the widely discussed issues of spread widening seen in catastrophe bonds, or the hardening of reinsurance pricing and how that spills over to ILS rates and returns.

Florida Citizens surpasses 1 million insurance policies again Florida’s residual market insurer, or insurer of last resort, Citizens Property Insurance Corporation, has now surpassed more than 1 million policies again, the first time it has been at this level of portfolio exposure, in terms of policy count, since 2013.Hurricane forecast for 2022 season lowered by TSR Tropical Storm Risk, another of the insurance and reinsurance industry watched seasonal forecast teams, has now lowered its seasonal forecast for the 2022 Atlantic hurricane season, becoming the third forecaster to do so.Florida reinsurance market still not well priced: Swiss Re leadership Global reinsurance giant Swiss Re continues to maintain an underweight stance to the Florida marketplace, feeling that rates remain too low and that state intervention is not helping, when what is needed is price transparency, the firm’s leadership recently explained.

HCI to set up new Florida carriers to capitalise on market disruption: CEO HCI Group, Inc., the Florida headquartered property and casualty insurer and parent of Homeowners Choice Property & Casualty Insurance Company and insurtech TypTap, sees an opportunity to expand into the Florida market on its own terms, CEO Paresh Patel has said.Time to seize opportunities in hardening markets: Munich Re CEO Munich Re highlighted continued strong growth and its CEO laid out a plan for further expansion, as markets continue to harden.Transverse acquisition by Mitsui Sumitomo Insurance confirmed The rumoured acquisition of hybrid P&C program, fronting and risk transformation company Transverse Insurance Group by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit has now been confirmed.

Weston’s assets insufficient for liabilities, reinsurance not completed Weston Property & Casualty Company has now had a receiver confirmed for an insolvency process and liquidation of the company.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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Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Health Insurance USA.
Publisher: Artemis