Best of Artemis, week ending October 27th 2024

Here are the ten most popular news articles, week ending October 27th 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 October 27th 2024:

1. Cat bond market index bounces back, now only -0.30% since hurricane Milton
   The catastrophe bond market index calculated by Swiss Re Capital Markets bounced back by more than one percent, leaving the benchmark for the entire cat bond market now only -0.30% down since hurricane Milton, while the US wind specific version of the cat bond index also recovered and is now -1.31%.
2. UCITS cat bond fund index only fell 0.42% on hurricane Milton
   It’s now clear that catastrophe bond funds fell far less than the market benchmark on the first pricing after hurricane Milton, with the Plenum CAT Bond UCITS Fund Indices only falling 0.42% at Friday October 11th and the majority of cat bond funds absorbing the initial mark-to-market impacts of the storm within two weeks of returns.
3. Munich Re: ~€500m Helene loss dents Q3, to beat full-year profit target despite Milton
   Munich Re has pre-announced an expectation of around €500 million in losses from September’s hurricane Helene, but while the reinsurer expects significant additional claims expenditure from hurricane Milton in Q4, the company is still forecasting it will beat its full-year profit target.
4. HCI assumes policies worth $200m in premium with Florida Citizens takeout
   The depopulation of Citizens Property Insurance Corporation, Florida’s state-backed insurance company, continues apace and HCI Group, the Florida-focused insurance holding company, has assumed another more than 42,000 policies from the residual market carrier.
5. Heritage: Hurricane Milton loss could reach third-layer of reinsurance tower, surpass $450m
   The CEO of Heritage Insurance Holdings, Inc., the Florida headquartered property and casualty insurer, has warned that its gross losses from recent hurricane Milton could reach the third layer of its reinsurance tower, suggesting a reasonable amount of risk capital will support its claims from the storm.
6. Alternative capital a material and critical reinsurance partner through crises: Rapin, Nephila
   In comments made around Guy Carpenter’s Baden-Baden Reinsurance Symposium event, Maria Rapin, the CEO of Nephila Climate, the climate and weather focused arm of insurance-linked securities (ILS) specialist Nephila Capital, highlighted that alternative capital is a long-term partner for reinsurance that has been well-tested through catastrophes and crises.
7. Arthur J. Gallagher acquires investment consultancy Redington
   Arthur J. Gallagher, the insurance and reinsurance broking specialist, has announced the acquisition of an investment consultancy with expertise assessing managers in the insurance-linked securities (ILS) space, Redington Ltd.
8. Cat bond issuance running ahead of trend, record still possible for 2024: Icosa Investments
   With the catastrophe bond market pipeline having sprung back to life as the US wind season passes its meteorological peak, cat bond fund manager Icosa Investments AG has analysed the issuance trend and sees it still running at a record pace.
9. Hong Kong hopes to kick-start local ILS investment with tax exemption
   Recognising that demand for asset and wealth management services are set to increase and that certain alternative asset classes are currently less attractive due to their taxation, the government of Hong Kong aims to boost its investment sector with a broadening of profit tax exemptions, with insurance-linked securities (ILS) one asset class in focus.
10. PGGM / PFZW ILS portfolio returns 11.7% to end of Q3. AUM around US $8.6bn
    The broadly diversified portfolio of insurance-linked securities (ILS) and reinsurance investments managed by pension investment firm PGGM on behalf of end-client the Dutch pension PFZW, delivered a 5.8% return for the third-quarter, lifting year-to-date returns to 11.7%.

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 36 new articles published in the last week.

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