Best of Artemis, week ending August 13th 2023

Here are the ten most popular news articles, week ending August 13th 2023, 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.

Ten most read articles on Artemis.bm, week ending August 13th 2023:

Vesttoo: Our coverage of the alleged collateral issues
Stories related to the validity of letter of credit (LOC) collateral linked to Vesttoo and the fall-out of this scandal continued to dominate the headlines.
Higher reinsurance attachment points the real hard market story: Jefferies
Higher attachment points for reinsurance and retrocession contracts are the real hard market story analysts at Jefferies suggest, when it comes to delivering returns to stakeholders.
Artemis London 2023: Just a few weeks left to register
There is now less than one month left for you to register and secure a ticket to attend our next insurance-linked securities (ILS) market conference, Artemis London 2023 on Tuesday September 5th.
Reinsurance capital still pressured, but ILS opportunity grows: Aon CEO & President
The catastrophe bond market is seen as a bright spot when it comes to reinsurance capital inflows, but overall the market’s capital base remains pressured, although property catastrophe risks appear to have found a pricing equilibrium, Aon’s senior leadership said recently.
No significant cat bond market impact from Hawaii wildfires: Plenum
The devastating wildfires in Maui, Hawaii are not expected to have any significant impact on the catastrophe bond market, specialist investment manager Plenum Investments has said.
Berkshire writes $1bn of incremental P&C Re premium – “considerable volatility”
The property and casualty reinsurance business of Warren Buffett’s Berkshire Hathaway wrote an additional $1 billion of written premium in the first-half of 2023, with property exposure and higher rates the main driver.
Florida still dysfunctional, but reforms directionally correct: Swiss Re CFO Dacey
The Florida insurance and reinsurance marketplace remains dysfunctional according to Swiss Re CFO John Dacey, who said that the reinsurance giant remains underweight in the state, despite some signs improvement could be on the horizon.
TSR raises Atlantic hurricane forecast, cites neutral or favourable trade winds
Forecast group Tropical Storm Risk (TSR) has raised its forecast for the 2023 Atlantic hurricane season for a second time, now citing an expectation of activity levels 10% above the 1991-2020 climate norm.
RenaissanceRe third-party capital AUM hits $6.85bn on cat bond growth
RenaissanceRe saw its third-party investor capital assets under management (AUM), dedicated to its property and casualty reinsurance business, rise by $250 million during the second-quarter of the year, to reach a new high of $6.85 billion.
Hail drives 2023 US SCS loss trends. Insured total nears $40bn: Bowen, Gallagher Re
Hail damage is once again driving the loss trend for severe convective storms (SCS) in the United States, with the insurance industry loss tally nearing $40 billion already this year and a record number of multi-billion dollar events seen, Gallagher Re’s Steve Bowen has said.