This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has employed Deanne Nixon, the former Chief Executive Officer of Florida-headquartered property insurer Weston. Nixon has joined Arbol as a Senior Adviser for Reinsurance, the company announced on Linkedin today. “We are thrilled to announce that Deanne Nixon has joined the Arbol team as Senior Adviser for Reinsurance. With over 30 years of leadership experience ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The net asset value of the two share classes of the CATCo Reinsurance Opportunities Fund rose by over 61% across the course of 2023, as the investment manager Markel CATCo continued to unlock more value from the fund’s run-off for its investors. The net asset value of the shares in the fund rose from $9 million to $14.5 million over the course of last year. By the end of 2023, Markel CATCo had been able to return $413.9m of capital to shareholders in the London and Bermuda exchang ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, believes that the forward-looking total yield potential of insurance-linked securities (ILS) remains attractive despite recent spread tightening, leading the manager to keep catastrophe bonds as its top sub-sector pick. Looking to the rest of the second-quarter of 2024, overall, “the ILS market remains attractive,” after a more orderly period of reinsurance renewals and recent tightening of sprea ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. U.S. primary insurer Nationwide Mutual Insurance Company has raised the target for its latest catastrophe bond, with now up to $225 million in multi-peril reinsurance sought from this new Aquila Re I Ltd. (Series 2024-1)  transaction, Artemis has learned. Nationwide Mutual returned to the catastrophe bond market earlier this month, with what will be the second takedown under the Aquila Re I Ltd. special purpose insurer. This new Aquila Re I deal will be the tenth Nationwide s ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. USAA has now lowered the target for its latest catastrophe bond to $125 million, as  a zero-coupon tranche of notes from the Residential Reinsurance 2024 Limited (Series 2024-1) issuance have been dropped, while the other two multi-year tranches look set to price towards the lower-ends of guidance. This new ResRe catastrophe bond is the 43rd we have tracked from USAA, the most prolific cat bond sponsor, with now 42 issuances under the Residential Re name and one Espada Re tra ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The occurrence of a major cyber catastrophe loss event, while likely to lock-up most of the insurance-linked securities (ILS) capacity already deployed in the sector today, can also provide an opportunity to investors, as it should support understanding and belief in risk models while providing a higher-yielding opportunity, broker Lockton Re has suggested. In a report exploring how the still developing cyber insurance market will react to a major cyber catastrophe loss event, rei ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The recent April 2024 severe storms that caused heavy flooding impacts across the United Arab Emirates, Oman, Saudi Arabia and other Gulf Cooperation Council (GCC) countries are expected to activate excess-of-loss reinsurance recoveries for primary insurers, which Moody’s Ratings says will drive prices higher. Photo from: Reuters The flooding is expected to push up primary insurers’ claims and reinsurance costs, which Moody’s says is a credit negative for the carriers. “Smaller i ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Artemis can report that the annual aggregate catastrophe losses applicable to US primary insurer Allstate’s outstanding catastrophe bond that features a $1m franchise deductible are now just slightly below the attachment point for the notes, suggesting the maturity will likely extend to allow for any loss development. The notes in question are the $100 million Sanders Re II Ltd. (Series 2020-1) Class B tranche of notes, which are the only in-force tranche through the last annual a ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The total-return of the outstanding catastrophe bond market for the first-quarter of 2024 has reached 4.57%, according to data from the Swiss Re Cat Bond Performance Indices, which shows that cat bond market performance is running slightly behind the prior year. The fact the performance of the cat bond market is running behind that seen in 2023 is no surprise. While we are seeing price effects again in 2024, as supply and demand factors drove secondary market prices higher, this h ..read more

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. This video features an expert panel discussing collateralized reinsurance and retrocession market trends at our Artemis ILS NYC 2024 conference, which was held in New York on February 9th 2024. ILS NYC 2024 was Artemis’ largest insurance-linked securities (ILS) conference to-date, with over 410 registered attendees enjoying insightful debates from our expert speakers, as well as valuable networking opportunities throughout the day. Attendees came from over 30 countries around the ..read more