Best of Artemis, week ending 28th June 2020

Here are the ten most popular news articles, week ending 28th June 2020, 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.Analysts from investment bank Berenberg have said that they believe global claims for the insurance and reinsurance industry due to the Covid-19 pandemic will be manageable, estimating a range from $50 billion to $70 billion for the total bill.

Nephila Capital, the world’s largest insurance and reinsurance linked investment fund manager, is expanding its activities in the key Lloyd’s of London marketplace with the launch of a new syndicate that will follow selected specialty lines underwriters performance.Schroder Secquaero, the specialist insurance-linked securities (ILS) unit of the global asset management group Schroders, has hired Mark Gibson, a well-known UK based ILS and reinsurance convergence focused executive whose most recent role was at Neon.The cost of third-party or insurance-linked securities (ILS) capital has risen, while its supply has been dented by the Covid-19 pandemic, according to RenaissanceRe, the Bermuda-headquartered reinsurance company and third-party capital manager.

While capacity and the availability of it has been cited as a key driver of reinsurance rates in this current firming market environment, broker Guy Carpenter said it expects capacity will meet cedent needs at future renewals, as it saw it to in June this year.Southern Mexico was struck by a significant Magnitude 7.4 earthquake on Tuesday at around 15.30 UTC, but while the location of the earthquake appears to have fallen within a box relevant to the parametric trigger of the World Bank supported IBRD / FONDEN 2020 catastrophe bond, it does not look strong enough to have triggered any of the notes.Global reinsurance company Swiss Re has now successfully secured $240 million of retrocession from its latest Matterhorn Re Ltd.

(Series 2020-4)  catastrophe bond transaction, taking the firm’s total cat bond coverage under the program to $1.31 billion.Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance- and transportation- focused investment manager, is expected to take majority control of windstorm focused primary insurance group Weston Insurance Holdings Corporation, after a recent capital restructuring and increased investment in the carrier.While global reinsurance giant Munich Re said that it has the financial strength to withstand the economic hit from the Covid-19 pandemic, the reinsurer will not put in place any profit guidance for the full-year, saying the uncertainty over losses remains high.

Arch Capital Group, the Bermuda headquartered specialist insurance and reinsurance carrier, looks set to successfully re-open the capital markets to mortgage insurance risk with its second attempt to get a Bellemeade Re 2020-1 Ltd.mortgage ILS deal away.This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago.

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Publisher: Artemis