Best of Artemis, week ending March 13th 2022

Here are the ten most popular news articles, week ending March 13th 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.Hannover Re’s K-Cessions sidecar could have Ukraine exposure Global reinsurance company Hannover Re could find some support from its capital markets backed K-Cessions quota share sidecar facility for certain non-war specialty lines exposures to the ongoing conflict in Ukraine.

New risks & differentiation attractive to ILS investors: Gallagher Re While investor appetite for insurance-linked securities (ILS) has been tested by consecutive years of elevated catastrophe losses, the asset class still plays an important role for many allocators and there remains an appetite to invest in new classes of risk, while differentiation is also an important consideration.SiriusPoint invests in Mosaic & offloads Lloyd’s managing agency SiriusPoint and Mosaic Insurance, which both launched in February of last year, have entered into a strategic partnership which includes an investment from the former into the latter, and also the sale of Sirius International Managing Agency (SIMA) at Lloyd’s to Mosaic.American Equity plans sidecars for third-party annuity reinsurance capital American Equity Investment Life Holding Company, a US annuity insurance and investment company, is planning to establish sidecar structures to bring third-party reinsurance capital into its operation and generate additional fee income for its business.

Swiss Re’s new Matterhorn Re aggregate cat bond upsized to $325m The new catastrophe bond transaction from global reinsurance giant Swiss Re has now been priced and sources told Artemis that the issuance was upsized by 63% to $325 million in size, while both tranches of notes priced at the lower-ends of guidance.Jim Fiore joins re/insurance broker Aon from QBE Jim Fiore, previously QBE Insurance’s Chief Reinsurance Officer, has joined insurance and reinsurance broker Aon as Chief Strategy Officer, Capital Advisory.AXA XL appoints Nancy Bewlay CEO Reinsurance AXA XL, the commercial insurance and reinsurance operation of the global AXA Group, has appointed Nancy Bewlay as its new Chief Executive Officer (CEO) of Reinsurance, as Charles Cooper steps down after more than two decades of service.

Storms and floods see IAG utilise $95m of its aggregate reinsurance Australian primary insurer IAG expects to incur net costs of around AUD 74 million for the storm and flooding event that started in February 2022, which represents a decline on the March 1st estimate as the carrier utilises $95 million of its aggregate reinsurance protection, post-quota share.Macro environment extremely favourable for ILS: Volpi, Leadenhall Rising interest rates, inflation, and heightened volatility across other asset classes has again brought increased attention to insurance-linked securities (ILS) as an attractive proposition, according to Lorenzo Volpi, Managing Partner at Leadenhall Capital Partners.Pool Re ‘delighted’ as second cat bond receives strong investor support Pool Re, the UK government backed mutual terrorism reinsurer, saw significant interest and appetite from the capital markets for the issuance of its £100 million (USD 131m) Baltic PCC Limited (Series 2022-1) terror catastrophe bond, leading to an increase in the number of investors compared to its 2019 placement.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days..To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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Publisher: Artemis