Best of Artemis, week ending December 8th 2024

Here are the ten most popular news articles, week ending December 8th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Ten most read articles on Artemis.bm, week ending December 8th 2024:

1. Reinsurance buyers more hopeful on aggregate cover, cat bond market appetite rising
   Speaking with a number of reinsurance buyers regarding their outlooks for January 2025 renewals, it’s clear most are resigned to attachment points remaining at or near the more elevated levels set in recent years, but they are hopeful that aggregate coverage will become more available, especially from the capital markets.
2. WTW announces treaty reinsurance broking re-entry with Bain Capital joint venture
   Broking group WTW has confirmed its re-entry to the treaty reinsurance broking sector, through a joint venture established with specialist private investment firm Bain Capital.
3. RenaissanceRe looks set to launch Medici UCITS catastrophe bond fund
   RenaissanceRe looks set to be the latest to offer a UCITS insurance-linked securities (ILS) fund, with a fund structure now registered in Ireland under its Medici brand, so presumably this will be a cat bond strategy.
4. Reinsurance pricing base case for 2025, a reversion to ~2023 levels: J.P. Morgan
   Analysts at J.P. Morgan believe that the reinsurance market may simply wind back the clock one year at renewal seasons in 2025, with the firm’s base case for reinsurance pricing being for a reversion to roughly 2023 levels.
5. ILS NYC 2025: Casualty ILS & Parametric investments to get their own panel sessions
   We are delighted to announce that casualty insurance-linked securities (ILS) and investment opportunities in parametric risk transfer structures, will be the focus of two main panel sessions at our upcoming Artemis ILS NYC 2025 conference in New York on February 7th next year.
6. Aon hires O’Connell to lead on cyber reinsurance strategy & growth, including use of cyber ILS
   Aon’s Reinsurance Solutions division has announced the hiring of Robert O’Connell as Global Cyber Strategy and Growth Leader, Executive Managing Director, a role that will see him tasked with leading on delivering value to cyber clients, including through the use of cyber insurance-linked securities (ILS).
7. Swiss Re: Global insured catastrophe losses to exceed $135bn in 2024
   Swiss Re has estimated that global insured catastrophe losses are on track to exceed US $135 billion by the end of 2024, marking the fifth consecutive year where the insurance market has dealt with losses of over US $100 billion.
8. Florida Citizens lifts reinsurance and cat bond risk transfer target to $4.5bn for 2025
   Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, is currently projecting a need to budget for a larger tower of reinsurance and catastrophe bonds in 2025, with almost $4.5 billion of risk transfer being discussed.
9. World Bank supports Eastern Caribbean on cat swap, cat bonds, more parametric cover
   The World Bank is working with four countries from the Organization of Eastern Caribbean States Commission (OECS), Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines, to strengthen their climate resilience and with three risk transfer options being explored, a catastrophe swap, catastrophe bonds, or securing more parametric insurance.
10. Clear Blue sues China Construction Bank over Vesttoo reinsurance fraud
    You would be forgiven for thinking the industry had moved on from the debacle that was the Vesttoo reinsurance letter of credit (LOC) fraud, but legal action continues and the latest case to be filed sees fronting specialist Clear Blue Insurance suing China Construction Bank for damages.

This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. There were 31 new articles published in the last week.

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