Here's our latest Friday wrap-up of key news from the week.
This week, hurricane Helene dominated the news making landfall overnight as a major Cat 4 storm with 140mph winds and with wide-reaching storm surge impacts.
Pre-landfall industry loss estimates were in the single digit billions, while Plenum said that cat bonds would not see significant impacts. It remains to be seen where exactly the quantum will fall.
News from the UK government this week revealed a consultation on its iSPV regulations and a plan to speed up catastrophe bond applications to a 10-day approval turnaround.
Ledger Investing launched a $100m casualty reinsurance sidecar.
Concert Group also launched a sidecar, self-funded for now but the company told us it plans to attract third-party capital.
Meanwhile, Beazley finalised its latest cyber cat bond recently at an upsized $210m.
Register for our live ILS Market Outlook 2025 webinar.
In other news this week, S&P said that recent European flooding would see reinsurers shouldering a significant share of the claims.
Interest in private ILS opportunities, so collateralised reinsurance and retrocession arrangements, has been rising and continues to, Marcel Grandi of Twelve Capital told us.
China is aiming to strengthen its insurance system, with a particular focus on the impacts of weather and natural disasters and its State Council, a key ruling body, has cited catastrophe bonds again, as one measure that can assist.
After posting record levels of issuance so far in 2024, the catastrophe bond market appears poised to offer an attractive entry point for investors, according to Jack Burdick, an Associate at investment manager Neuberger Berman.
Christian Bruns, Partner and Portfolio Manager at LGT ILS Partners Ltd., noted that transacting cyber risk in an excess-of-loss format may not currently be in the best interest of the firm's investors.
The momentum seen in the catastrophe bond market over the last year is expected to persist, with further growth in the amount of cat bonds outstanding expected by year-end 2024, Shiv Kumar, President of GC Securities told us in an interview.
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.
No comments:
Post a Comment