Here are the ten most viewed news articles, for the week ending November 19, 2023, on catastrophe bonds, ILS, reinsurance capital and topics associated with risk transfer. To make sure you don’t miss anything Subscribe to weekly Artemis newsletter updates via email or get our email alerts for every article we publish.
Ten most read articles on Artemis.bm, week ending November 19, 2023:
- Beazley’s Cyber Cat Bond Hits Market, $75M PoleStar Re Ltd.
Beazley has now entered the 144A catastrophe bond market with its first cyber deal, seeking $75 million in reinsurance from this PoleStar Re Ltd cyber catastrophe bond issue. (series 2024-1), can report Artemis.
- AXIS obtains the first cyber-cat bond Long Walk Re at a lower price than expected
AXIS Capital has now successfully priced the first ever 144a Cyber Catastrophe Bond and $75 million Long Walk Reinsurance Ltd transaction. (series 2023-1) will end with a price lower than the initial target, an important signal of the ILS market’s appetite for cyber risks.
- Twelve Capital to reshuffle its cat bonds team following the departure of Florian Steiger
Artemis has learned that Florian Steiger, head of Cat Bonds at Insurance-Linked Securities (ILS) and reinsurance asset manager Twelve Capital, will be leaving the company at the end of the year.
- Porch will “vigorously” pursue all damages related to Vesttoo fraud
Porch Group, the software-focused financial services group with a home insurance arm that was hit after a letter of credit (LOC) backing a reinsurance deal it had with insurer Vesttoo was found to be fraudulent, intends to pursue damages vigorously and not just against Vesttoo, it seems.
- RenRe works to attract AlphaCat investors to Capital Partners products: Parry
RenaissanceRe, the Bermuda-based third-party reinsurance and capital management specialist, is working to attract investors from the AlphaCat Managers offering into its Capital Partners products, following the completion of the acquisition by the Validus’ business with AIG.
- German insurer VKB targets €150 million King Max Re multi-risk catan bond
German domestic market insurance company Versicherungskammer Bayern Versicherungsanstalt des oeffentlichen Rechts (VKB) has entered the catastrophe bond market for the first time, seeking €150 million in multi-risk reinsurance from capital markets through a King Max Re DAC 2023 transaction.
- Allianz returns to the catalytic bond market for €250 million European storm protection
Global insurance giant Allianz is returning to the catastrophe bond market seeking a group-wide source of European storm reinsurance of €250 million or more with a Blue Sky Re issuance DAC (2023-1).
- Catastrophe bonds and ILS will remain in ‘hard market’ territory in 2024: Lane Financial
After analyzing secondary market data for insurance-linked securities (ILS), consulting firm Lane Financial LLC concludes that the catastrophe bond and ILS market will remain in “hard market” territory in 2024, but may be only “half as hard” as it could be. were planned at the beginning of this year.
- Reinsurance Returns to Its Pre-Market Weakness as a Provider of Capital Protection, Fitch Says
The global reinsurance market now appears to have returned to a pre-weak market state of providing capital protection rather than profit protection, Fitch Ratings said.
- No major headwinds on reinsurance pricing for 2024, says Morgan Stanley
With 2024 fast approaching, analysts at investment bank Morgan Stanley currently see no signs of headwinds that could affect reinsurance prices for renewals and next year, with capital supply remaining balanced in the sector.
These are not all articles published on Artemis in the last week, just the most popular among our readers over the last seven days. There were 36 new articles published last week. To ensure you always stay informed about Artemis and never miss a story Subscribe to our weekly email newsletter which is delivered every Wednesday.
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