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Here's our latest Friday wrap-up of key news from the week.
This week, hurricane Beryl has been a key focus, as the major storm battered the Windward Islands and moved onto Jamaica, narrowly missing triggering its IBRD catastrophe bond.
We reported first thing this morning that Beryl then set its sights on the Yucatan. We highlighted that Mexico's IBRD cat bond also looked safe, but that Texas is now the focus, as model runs move the forecast cone further into that state.
Our new catastrophe bond market report was published this week, detailing a record Q2 and H1 for the market.
This week we also reported that Japanese ILS specialist Keystone ILS Capital has received an investment from Howden, as that broker launched its dedicated reinsurance arm in the country.
Guy Carpenter said mid-year ILS capital raises were smaller than anticipated.
Also of note, broker Aon said that the reinsurance sidecar market has seen more capital inflows, with over $1bn added in the last year.
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Schroders Capital announced a tokenised ILS pilot project, working with reinsurer Hannover Re.
Cat bond market yields ended June at a still high level of 13.7%, rising in the month.
James Vickers from Gallagher Re told us that some ILS funds eased off at the renewals, in part due to the active hurricane season forecasts.
We were also first to report that Stone Ridge Asset Management grew its mutual ILS fund strategies to over $4.4 billion in net assets by the end of April this year.
Broker Guy Carpenter reported that retrocession demand increased at the mid-year renewal season.
Meanwhile, Howden said there is considerable room for the cyber cat bond market to expand.
Finally, if you haven't seen them, Artemis has a wealth of data and analytics on the catastrophe bond and broader ILS market. View our charts and Deal Directory.
Catch up on our video interviews with ILS market leaders here.
If you prefer to listen, subscribe to our podcast series for audio interviews & additional special episodes.
We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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