Our news and analysis from the last week
Artemis Newsletter - Wednesday October 9th 2024 | | | - Hurricane wind speeds forecast across entire Florida Peninsula as Milton approaches - Walkers adds ILS experienced Senior Associate Ellison in Bermuda - Amwins and Floodbase partner on parametric flood insurance for California Municipalities - Science collaborations key for ILS innovation: Tangency's Stanton at Convergence - Mexico's catastrophe bond presumed safe from hurricane Milton - Stone Ridge leads managers cutting mutual cat bond or ILS fund NAVs on hurricane Milton - Hurricane Milton could be a huge test for the entire (re)insurance market: Evercore ISI - Hurricane Helene privately insured losses estimated $8bn to $14bn by Moody's RMS - Hurricane Milton losses could amount to tens of billions, but uncertainty high: BMS' Siffert - Material hurricane Milton losses could change 2025 property reinsurance price trajectory: KBW - Cat bond & ILS managers explore options to free cash, as hurricane Milton approaches - Hurricane Milton is biggest potential ILS market threat since Ian in 2022: Steiger, Icosa - Hurricane Helene insured loss estimate now $10.5bn – $17.5bn including NFIP: CoreLogic - Amundi US cat bond fund hits $426m, takes dedicated ILS fund AUM to $1.1bn - Reinsurers (and ILS) can absorb any hurricane Helene losses within earnings: S&P - Future Fund ILS allocation declines to US $1.49bn at June 30th 2024 - Hurricane Helene private/public insured losses likely at least in higher single-digit billions: Aon - Starwind raises $270m Fractal Re casualty sidecar. Stone Point, Enstar, State National support - Aon names Pennay CEO, Aon Securities. Schultz becomes Global Vice Chair of Reinsurance - Euler ILS Partners launched by Hilti and Credit Suisse ILS team as buyout completes - Parametric startup Adaptive Insurance launches with GridProtect power outage cover - Cat bond market yield declines again on accelerated seasonality, lower collateral contribution - Some nerves evident as Helene's Florida claims outpace Idalia, State Farm's outpace Ian, & on NFIP - Global flood catastrophe risk model launched by Fathom - Only "small scale" reinsurance renewal softening seen for January 2025: J.P. Morgan analysts - Hurricane Helene insurance industry loss estimated close to $6.4bn by KCC - Liberty Mutual Re backs first US sensor parametric quake cover for University of California - Beazley adds $290m cyber ILW to its $510m cyber cat bonds, in $1bn cyber cat coverage - Plenum grows European Insurance Bond Fund to more than €100m - Central Europe flood insurance market loss estimated $2.8bn – $3.9bn: Moody's RMS - Trigger Parametric launches with natural & man-made peril focus, alternative capital remit 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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