Catch up on our top stories of the last week
Best of Artemis, week ending March 2nd 2025 | | |  - State Farm pegs LA wildfire loss at $7.6bn, with $212m retained after reinsurance
US primary insurance giant State Farm has said that its direct losses from the Los Angeles, California wildfires are currently estimated at $7.6 billion, but after significant reinsurance recoveries only $212 million is expected to be retained. - Artemis' measure of catastrophe bond market size surpasses $50bn for the first time
For the first time since we've been tracking the catastrophe bond marketplace, Artemis' measure for the size of the market, based on our estimate of catastrophe bond risk capital outstanding, has surpassed the $50 billion mark, as 2025 issuance continues to outpace the heavy maturity schedule. - TWIA sets PML at $6.227bn for 2025, to require $4.227bn of reinsurance & cat bonds
The Board of the Texas Windstorm Insurance Association (TWIA) met and one item up for discussion was the setting of the 1-in-100 year probable maximum loss (PML), a critical figure for defining its funding needs for the hurricane season and therefore its purchases of reinsurance and catastrophe bonds for 2025. - Berkshire Hathaway sees $1.3bn LA wildfire loss, wrote less property reinsurance in 2024
The Berkshire Hathaway insurance and reinsurance businesses are estimated to face losses from the Los Angeles, California wildfires amounting to as much as $1.3 billion, while the company also disclosed underwriting fewer property reinsurance premiums in 2024. - RenaissanceRe to grow DaVinciRe firepower with $300m private debt issuance
RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, is planning to further expand the balance-sheet of its DaVinciRe sidecar-like third-party capitalised reinsurance joint-venture through a $300 million private debt issuance. - Evolving cat models & shifts in climate driving attraction towards ILS: Twelve Securis
According to Twelve Securis, the specialist insurance-linked securities (ILS) manager, the combination of advancements being seen in catastrophe modeling, along with shifting climate patterns, and the ability to generate uncorrelated returns, is making ILS an increasingly attractive investment amid a rapidly changing risk landscape. - AXIS registers Monarch Point Re casualty collateralized insurer for 2025
AXIS Capital, the specialty insurance and reinsurance company, has registered a fourth collateralized insurer class of company in Bermuda to support further expansion of its Monarch Point Re casualty insurance-linked securities (ILS) platform in 2025. - Hiscox reports record ILS fee income of $128m, benefits from $460m of inflows
Hiscox ILS, the dedicated insurance-linked securities (ILS) management arm of the global re/insurer, generated a record level of third-party reinsurance capital related fee income in 2024, helped by strong performance fees and significant new inflows during the year. - Munich Re retrocession and sidecar program stable at $1.55bn for 2025
Munich Re has renewed its retrocessional reinsurance program arrangements to provide $1.55 billion in protection for 2025, utilising both traditional retro and capital markets through its sidecars and catastrophe bonds at a stable level with the prior year. - Swiss Re says LA wildfire loss below $700m, grows P&C Re 7% at Jan renewal
Swiss Re disclosed that it anticipates losses from the January 2025 wildfires in Los Angeles, California will be below $700 million, while also reporting strong growth at the January renewal season for its property and casualty reinsurance business. | Featured Conferences & Events | Stay tuned for future Artemis ILS conferences We will soon be announcing dates for our next ILS market conferences in 2025. Stay tuned to be informed and ensure you can register early. | 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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