Best of Artemis, week ending June 2nd 2024

Here are the ten most popular news articles, week ending June 2nd 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

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Ten most read articles on Artemis.bm, week ending June 2nd 2024:

Puerto Rico government seeking Parametric Re cat bond protection
The government of Puerto Rico is seeking $75 million in parametric insurance protection against the financial impacts of named storms and earthquakes from the capital markets, through a new Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond transaction.
Catastrophe bond market yield rises to highest level since September 2023
Helped by the recent spread widening seen in the catastrophe bond market, the overall market yield in US dollars has reached almost 13.5% again, which is the highest level the return potential of the cat bond market has been at in over eight months.
The first $4bn+ cat bond month ever. Issuance running 38% ahead of record year
Artemis’ data and charts on the catastrophe bond and related insurance-linked securities (ILS) market have been updated to accommodate the latest new Marlon deal and we’ve now cleared the $4 billion milestone for May 2024, while year-to-date issuance is tracking 38% ahead of the previous record for the first five months.
Biggest cat bond price moves driven by biggest RMS V23 expected loss increases: Plenum
The catastrophe bonds that have seen the biggest price moves in recent weeks appear to be those that have seen their expected losses rise the most when remodelled using the RMS V23 update, according to Plenum Investments.
Ariel Re pulls Titania cat bond issuance due to market pricing: Sources
We’re told by sources that global reinsurance player Ariel Re has opted to pull its latest catastrophe bond issuance as a response to the dynamic and higher cat bond market pricing environment, so the Titania Re Ltd. (Series 2024-1) transaction will not now be issued.
Securis Investment Partners appoints Judy Klugman to Board
Securis Investment Partners, the London-headquartered insurance-linked securities (ILS) investment manager, has announced the appointment of experienced catastrophe bond and ILS market specialist Judy Klugman as an independent Non-Executive Director to its Board.
June renewals – Slightly less-excellent reinsurance returns ahead: KBW
With catastrophe reinsurance pricing expected to be largely flat to slightly down at the upcoming June 1st reinsurance renewals and little change expected to terms and attachments, analysts from KBW said the industry can expect “slightly less-excellent” returns ahead, implying still-strong expected underwriting profitability.
Tropical Storm Risk raises seasonal forecast to 12 hurricanes, 6 major
Tropical Storm Risk (TSR) updated its forecast for the 2024 Atlantic hurricane season, now saying that it anticipates one additional hurricane will form, with one more expected to reach Category 3 or greater wind speeds, making for what it still expects to be a “hyperactive” year.
Swiss Re SRILIM’s 1863 ILS fund unit surpasses $1bn, as overall ACP assets hit $5bn
Swiss Re Insurance-Linked Investment Management Ltd. (SRILIM), a specialist insurance-linked securities (ILS) fund management unit of the global reinsurance company, has now surpassed a new milestone of more than $1 billion in assets under management (AUM).
Property cat pricing holds at renewals, discipline to extend into 2025: Jefferies
Analysts at investment bank Jefferies came back from a trip to Bermuda meeting with reinsurance and ILS market executives with the conclusion that property catastrophe pricing has held up well, perhaps better than anticipated, and that market discipline is expected to extend into 2025.