Our news and analysis from the last week
Artemis Newsletter - Wednesday October 2nd 2024 | | | - Direct cat bond losses still seen unlikely from Helene, but NFIP bonds monitored: Twelve Capital - ILS Advisers Index records best monthly return since inception in 2006 - Stone Ridge mutual ILS fund assets rise further, to highest level in almost five years - Catastrophe bond issuance reaches $13.2bn in 2024 after muted third-quarter: Report - ILS market has "meaningful growth opportunity" to $200bn by 2032: Jefferies - Central Europe flooding industry loss between US $2.2bn and US$3.4bn: Verisk - Hurricane Helene floods over 100k buildings, at least 10k to over 5 feet: ICEYE - Hurricane Helene insured losses anywhere from mid-single to even double-digit billions: RBC - Florida reinsurance dependency in focus after Helene, with $5bn+ loss expected: AM Best - FEMA's NFIP reinsurance & cat bonds in focus after catastrophic flooding from Helene - Prologis seeks $95m renewal of Logistics Re US earthquake catastrophe bond - Hurricane Helene private insurance loss seen mid-to-high single-digit billions: Bowen, Gallagher Re - Hurricane Helene economic loss in $20bn – $34bn range: Moody's Analytics - Hurricane Helene insured wind/surge property loss in Florida/Georgia initially said $3bn – $5bn: CoreLogic - Losses to per-occurrence cat bonds from hurricane Helene currently seen as unlikely: Twelve Capital - Weather and climate derivatives market forecast to keep growing: CME - Markel positioned for Nephila Capital fee upside if 2024 cats manageable: TD Cowen - Hurricane Helene landfall at Cat 4 140mph winds, Tampa Bay sees historic surge flooding - Catastrophe bond market momentum expected to persist: Kumar, GC Securities - Summer 2024 the most destructive season in Canadian history for insured weather losses: IBC - UK PRA to consult on ISPV reforms, launch accelerated catastrophe bond pathway - Hurricane Helene industry loss seen $3bn to $6bn if Tampa avoided: Gallagher Re - Descartes launches new division to expand scope of offerings, including parametrics - Hurricane Helene forecast for major Florida Big Bend landfall, with deadly storm surge, winds far inland - Harry Titherley joins Global Parametrics as Business Development Director - Minimal to no cat bond impact expected from hurricane Helene if track unchanged: Plenum - Concert launches & capitalises Harmony Re sidecar, aims to attract third-party capital - Quota-share format may be more suitable for cyber risks than cat bonds: Bruns, LGT - Essent upsizes Radnor Re 2024-1 to obtain $363.4m of mortgage reinsurance - Significant share of European flood claims to be covered by reinsurance: S&P - Helene forecast for major hurricane Florida landfall, track wobbles may define the cost - SEADRIF makes $750k parametric payout to Laos for Typhoon Yagi driven flooding For continuous coverage in real-time visit Artemis. For details of the latest catastrophe bonds visit our Deal Directory (containing over 1,000 entries.) | Featured Conferences & Events | ILS NYC 2025 - Save the date! February 7th, 2025 Save the date for our next catastrophe bond and insurance-linked securities (ILS) market conference in New York! | Reinsurance News is a our sister service which delivers the reinsurance news that matters directly through our responsive website and by email to your inbox. The Reinsurance News website has over 200k readers every single month and it covers the most important reinsurance news, hand selected by an experienced team of researchers and journalists with years of reinsurance industry experience. | Stay in touch with Artemis | | | | |
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