Best of Artemis, week ending 20th September 2020

Here are the ten most popular news articles, week ending 20th September 2020, 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 20th September 2020:

1. Artemis Live: Interview with Christian Mumenthaler, CEO, Swiss Re
   Christian Mumenthaler, Chief Executive Officer of the world’s largest reinsurance company Swiss Re, joined us this month, to discuss how his company has fared since the pandemic, the state of the market and what his outlook and priorities are for 2021.
2. Carriers expect reinsurance cover on BI claims from FCA test case judgement
   Insurance carriers potentially affected by today’s judgement in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, are suggesting their reinsurance, including catastrophe covers, will provide support.
3. Blackstone puts weight behind Ki, as Brit’s algorithmic syndicate raises $500m
   Private equity investment giant Blackstone has thrown its weight behind Brit’s algorithmic, follow-form Lloyd’s syndicate Ki, investing alongside Brit parent Fairfax in a $500m capital raise for the new venture.
4. Hurricane Sally losses preliminarily estimated at $1.5bn to $3.9bn by AIR
   According to our industry sources, a preliminary estimate of insurance and reinsurance market losses from hurricane Sally has been pegged at between $1.5 billion and $3.9 billion by catastrophe risk modeller AIR Worldwide.
5. Insured cat losses hit $54bn, COVID evident in loss development: Aon
   Global insured losses from catastrophe events and severe weather have already reached $54 billion in 2020 and the effects of the COVID-19 pandemic are evident in prolonged loss development, according to insurance and reinsurance broker Aon.
6. Understanding & pricing secondary perils crucial to long-term profitability
   It’s hard to ignore that in recent years the insurance and reinsurance market has been beset by losses from so-called secondary perils such as wildfires and floods, which makes the understanding and pricing of these risks absolutely crucial to companies long-term profitability, analysts at J.P. Morgan have said.
7. Aon + WTW to “extend proven model of catastrophe bonds” – CEO’s Case & Haley
   The impending combination of insurance and reinsurance broking giants Aon and Willis Towers Watson (WTW) will aim to “extend the proven model of catastrophe bonds” as the resulting organisation will continue to look to help clients access the capital markets, CEO’s Greg Case and John Haley have said.
8. U.S. wildfire industry losses estimated at $5bn to $8bn by Moody’s
   Western U.S. wildfires so far this year have damaged or destroyed around 9,657 residential and commercial structures, while burning more than 5 million acres and the toll for the insurance and reinsurance industry could be as much as $8 billion already, according to Moody’s.
9. AIG has “high hopes” for AlphaCat growth & demand at 1/1: Zaffino
   Insurance giant American International Group, Inc. (AIG) has “high hopes” for further growth of its insurance-linked securities (ILS) and collateralised reinsurance manager AlphaCat, expecting to see “a lot of demand” for its vehicles at the renewals, Peter Zaffino said last week.
10. Hurricane Sally industry loss said in the low billions, ILS impact said slight
    Hurricane Sally’s late intensification before landfall is expected to mean that overall private insurance and reinsurance market losses from the storm reach into the low billions, with any impact to ILS positions expected to be minimal.

This is not every article published on Artemis during the last week, just the most popular, some of which were published over a week ago. There were 42 new articles published in the last week. To ensure you always stay up to date with Artemis and never miss a story subscribe to our weekly email newsletter which is delivered every Wednesday.

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