Best of Artemis, week ending October 10th 2021

Here are the ten most popular news articles, week ending October 10th 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.Catastrophe bond issuance still on record pace after Q3: Report Catastrophe bond and related insurance-linked securities (ILS) issuance continued at record pace through the third-quarter of 2021, with over $2.7 billion of new risk capital issued and the market now well on-track to beat all its records in 2021.

Markel CATCo in bankruptcy filing.Danish pension PKA revealed major holder Markel CATCo Investment Management is to be the subject of Chapter 15 bankruptcy proceedings, with filings made in the United States that have also disclosed Danish pension fund investor PKA A/S as a major holder.LA Citizens occurrence cat bonds marked down again on Ida loss expectation Two outstanding per-occurrence catastrophe bond tranches sponsored by Louisiana Citizens Property Insurance Corporation have been marked down much further on some broker pricing sheets in the last week, with secondary market bid pricing now implying a market expectation of a significant loss of principal.

Cat exposed US property insurance rates soar again in Q3: MarketScout Property insurance rates continue to soar higher for homes and businesses in catastrophe exposed regions of the United States, while coverage issues are increasingly emerging for those high-value buildings in peak catastrophe zones.Cat bond market sets new record as 12-month issuance soars The catastrophe bond and related insurance-linked securities (ILS) market has set another new record, as the amount of issuance we’ve recorded across a twelve-month period to end of September 2021 reached a new all-time-high.NZ Earthquake Commission reinsurance program likely to expand The New Zealand Earthquake Commission (EQC), the state-owned residential property disaster insurance entity, is likely to need more reinsurance protection from private markets as new rules are set to dramatically expand the amount of catastrophe risk it takes on.

Investors are looking for the next step in the ILS journey: Live webcast The increasingly sophisticated base of investors in the insurance-linked securities (ILS) universe are eager to push the market forward, but there are some forces holding back greater demand, according to industry experts.Florida Citizens growth could near previous highs.Depopulation in focus Florida’s Citizens Property Insurance Corporation continues to see increasing policy counts as ongoing challenges in the private market drive policyholders back to the residual market, resulting in expanding exposure levels and putting depopulation, or takeouts, back in focus.

The biggest catastrophe bond day in history on TRACE? October 5th 2021, saw what appears to be the most significant day of catastrophe bond names “trading” and being registered on the FINRA Trade Reporting and Compliance Engine (TRACE) ever, with somewhere around 114 individual names, or tranches, of cat bond notes recorded as seeing activity.Hurricane Ida drives August losses & uncertainty for private ILS funds Private insurance-linked securities (ILS) funds, that invest in collateralised reinsurance and retrocession, took the biggest hits from hurricane Ida in August and as the event happened so close to the end of the month significant uncertainty remains over valuations, with further declines possible when September returns are reported.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