
Here are the ten most popular news articles, week ending August 11th 2024, 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.Ledger Investing combines forces with Fermat and expands casualty ILS capabilities Providing a strong signal for the future potential of the casualty insurance-linked securities (ILS) marketplace, insurtech and casualty ILS company Ledger Investing has entered into an agreement with leading ILS investment manager Fermat Capital Management, who will now manage the casualty ILS funds Ledger had created.
Lloyd’s renews Central Fund cover, explores contingent capital for major losses Having first secured an innovative cover with capital markets backing for its Central Fund back in 2021, the Lloyd’s market has renewed this in 2024 and this time the protection will run for a five-year term, while a chunk is again collateralised by a major investment bank.Enstar $350m ILS legacy deal included COVID-19 exposures, expands its run-off portfolio Legacy and run-off reinsurance specialist Enstar completed the first loss portfolio transfer (LPT) for prior-year insurance-linked securities (ILS) reserves recently, providing an example of the type of trapped ILS capital solution the industry has been looking for and the company highlights this move as an expansion of its run-off portfolio.Apollo gets $6bn of commitments for Athene’s ADIP II sidecar Investor and private equity giant Apollo Global’s CEO Marc Rowan has hailed the completion of its latest successful capital raise for a new vintage of the life and annuity focused reinsurance sidecar structure for reinsurer Athene as “the largest equity sidecar in the industry.” Vesttoo case: Porch & Incline P&C lawsuits against China Construction Bank may combine A pair of lawsuits that allege China Construction Bank staff were complicit in the reinsurance collateral fraud perpetrated by executives at Vesttoo could now be combined, as the Southern District of New York court looks to save time and conserve judicial resources.
Aeolus CEO Bernstein becomes Head of Portfolio Management as Winters to depart Andrew Bernstein, the CEO of specialist insurance-linked securities (ILS) and reinsurance investment manager Aeolus Capital Management Ltd., will become the Head of Portfolio Management at the firm, as co-head Evan Winters is to depart at the end of this year.Aon hires Gallant as COO for Marilla Investment Management.Capital raised? Aon has hired Teresa Gallant from Canopius to become the Chief Operating Officer for its Marilla Investment Management Ltd.
entity that offers reinsurers and investors a route to access returns from a globally diversified book of reinsurance.It also appears some capital may have been raised for a Marilla private fund this year.Majority of hurricane Debby losses to fall below reinsurance attachments: Moody’s Ratings Insured losses from hurricane Debby are expected to largely fall within primary insurers’ reinsurance retentions, according to James Eck of Moody’s Ratings.
Berkshire Hathaway pulls-back on property reinsurance writings in Q2 2024 Having made a big and successful bet on property catastrophe risks in 2023 that saw the company writing significantly more in property reinsurance premiums in the first-half of 2023, Warren Buffett’s Berkshire Hathaway has taken a different stance in the second-quarter of 2024.TSR lowers hurricane season forecast by one, still expects 4 Cat 1+ landfalls Tropical Storm Risk (TSR) has updated its forecast for activity levels during the 2024 Atlantic hurricane season, with a slight reduction in the numbers of storms and hurricanes expected to form, but still expecting four Category 1 or stronger hurricane landfalls in the United States.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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