Catch up on our top stories of the last week
Best of Artemis, week ending November 17th 2024 | | | ILS NYC 2025 - Early Bird tickets selling fast! - SCOR gets 3-year capital markets P&C / life stop-loss retrocession from Tier 1 bank
The senior executive team of reinsurance company SCOR explained that a new capital markets retrocession agreement with a Tier 1 bank will provide it with three-years of stop-loss protection, across P&C and life risks. - Investment giants KKR & Capital Group launch multi-strat interval funds with ILS remit
Indicative of a broader and still developing trend we've been covering in recent years, of multi-asset managers adding catastrophe bonds and other insurance-linked securities (ILS) as eligible assets within prospectuses, KKR and Capital Group have begun marketing a pair of 40's Act interval style mutual funds with ILS part of their remit. - Hurricane Milton the true test for Florida legislative property insurance reforms: Heritage CEO
While lawsuits against insurers in Florida are said to have declined again across the first three quarters of 2024, the claims environment following hurricane Milton is expected to provide a "true test" for the legislative reforms that were enacted to reduce the litigious property insurance environment in the state. - Schroders Capital promotes Matter to Head of ILS, after Ineichen departure
Following the recent departure of long-standing senior insurance-linked securities (ILS) employee Daniel Ineichen, Schroders Capital has promoted another key executive, Flavio Matter, to the position of Head of ILS. - FEMA: Over 72,000 NFIP flood insurance claims filed in Florida from recent hurricanes
Data reported by the U.S. Federal Emergency Management Agency (FEMA) stated that across hurricanes Debby, Helene and the most recent Milton, more than 72,000 National Flood Insurance Program (NFIP) claims have been filed so far. - Reset in retentions to continue. Rates to trade around current levels: RenRe CEO O'Donnell
Giving an outlook for reinsurance renewals in 2025, Kevin O'Donnell, CEO of RenaissanceRe, explained last week that he anticipates retentions will remain around the levels they have been reset to, while rates will trade around current levels, despite an expectation of around $10 billion of incremental property catastrophe demand. - Ariel Re secures Titania Re 2024-1 cat bond 86% upsized to $325m, at reduced pricing
Ariel Re has now finalised its new Titania Re Ltd. (Series 2024-1) catastrophe bond transaction, securing the 86% upsized target of $325 million in multi-peril industry-loss triggered retrocessional reinsurance, while the notes have been priced a full percentage point below the low-end of the initial guidance range. - TWIA needs almost $5.8bn in reinsurance for 2025, as CRTF eroded by Beryl, PML rises
The Texas Windstorm Insurance Association (TWIA) is looking at another relatively significant increase in its reinsurance purchase next year, as it projects it may need almost $5.8 billion of reinsurance and catastrophe bond limit, due to the near-erosion of its CRTF by hurricane Beryl and a still-rising PML. - UK Gov launches ISPV reform consultation including accelerated cat bond pathway
The UK's Prudential Regulation Authority (PRA) has now officially launched its consultation on reforms for the insurance special purpose vehicle (ISPV) regulatory regime, which includes the accelerated pathway for certain catastrophe bond applications and a 10-day target for approvals of certain ILS arrangements. - ILS growth supports sustainable disaster recovery, community resilience: Baillie Gifford
According to James Squires, Head of Multi Asset and Partner at Baillie Gifford, the risk-based premium structure of insurance-linked securities encourages important mitigation and resilience measures by communities, governments, and insurance providers. | Featured Conferences & Events | 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. This single daily email contains 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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