Catch up on our top stories of the last week
Best of Artemis, week ending May 18th 2025 | | |  - Calidris Investment Partners launched by Philippe Trahan and Daniel Miller
Calidris Investment Partners has been launched as a Bermuda-based insurance and reinsurance opportunities focused investment start-up by former Ontario Teachers' insurance-linked securities (ILS) specialist Philippe Trahan and former Blackstone insurance transaction specialist Daniel Miller. - Siena Capital targets cat bond market with initial plan to launch daily pricing platform
Siena Capital Group, LLC, a private investment office with a focus on special situations and that counts former Gallagher Securities trading and distribution specialist Jack Stone as a Partner, is targeting the catastrophe bond and insurance-linked securities (ILS) market with a plan to launch a daily pricing platform later this year. - Insured nat cat losses on trend to hit $145bn in 2025, says Swiss Re
Global insured losses from natural catastrophes are on trend to hit USD 145 billion in 2025, continuing a steady 5%–7% annual growth trend seen in recent years, according to reinsurance giant Swiss Re. - Stone Ridge to liquidate Post-Event Reinsurance Fund structure
Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, is set to liquidate the Post-Event Reinsurance Fund that it originally launched back in 2015, Artemis has learned from company filings. - NCIUA's recent catastrophe bond included integrated disaster-resilience feature
The North Carolina Insurance Underwriting Association (NCIUA) has become the first catastrophe bond sponsor to benefit from an issuance that has disaster-resilience features integrated in it, with its recent $600 million Cape Lookout Re Ltd. (Series 2025-1) the very first cat bond to include an additional resilience feature. - Two Merna Re SPI's registered in Bermuda, likely for State Farm
Two new restricted special purpose insurers (SPI) using the Merna Re name were registered in Bermuda in April. With these restricted SPI's typically used as insurance-linked securities (ILS) issuers, especially for catastrophe bonds, the Merna Re name suggests these are likely for US primary insurance giant State Farm. - Catastrophe bond H1 issuance record already broken. Market expands 12% year-to-date
As May issuance continues to build, including the latest new catastrophe bond issues that are settling today, Artemis' data on cat bond market issuance has now exceeded the previous record for the first-half of the year, with almost $12.64 billion of tracked deals completed so far in 2025. - Hannover Re shares €438m in losses with ILS in Q1, grows 10.4% at April renewal
Hannover Re has reported going "significantly" above its large loss budget for the first-quarter of 2025 with the California wildfires the main driver at a cost of EUR 631 million, saying that it shared EUR 438 million of its large natural catastrophe losses with insurance-linked securities (ILS) capital sources during the period. - Legacy market opportunity to collaborate with ILS highlighted at IRLA event
At the Insurance & Reinsurance Legacy Association (IRLA) annual Congress event held in Brighton last week, speakers highlighted the opportunity to innovate alongside the insurance-linked securities (ILS) market and sources of alternative capital, to provide solutions to aid in exit liquidity and support casualty ILS transactions. - FHCF share of 2024 hurricane losses comes in lower than estimates, at $3.01bn
Losses to the Florida Hurricane Catastrophe Fund (FHCF) from hurricanes Helene and Milton in 2024 are set to come in lower than estimates, as its administrators now put the 2024 hurricane season loss at just $3.01 billion for the Cat Fund that provides a reinsurance-like reimbursement for a portion of a residential property insurers' loss. | Featured Conferences & Events | Artemis London 2025, September 2nd Our annual catastrophe bond and ILS conference returns in London on September 2nd 2025. With space for more people and a new venue this year, it promises to be our biggest London event yet. | Future conferences Please save these dates for upcoming Artemis conferences: Artemis ILS NYC 2026 - February 6th, 2026, New York City.
We will be back at our usual venue in Midtown NYC for our next installment of the ILS NYC event, with space for up to 450 attendees. | 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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