Best of Artemis, week ending October 8th 2023

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Here are the ten most popular news articles, week ending October 8th 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 October 8th 2023:

Vesttoo case: Committee of creditors approved to conduct legal discovery
The committee of unsecured creditors in the Chapter 11 bankruptcy case of insurtech Vesttoo has now been approved to begin conducting legal discovery on the company after the judge issued an order approving discovery at a hearing last week.
Hudson Structured announces promotions for Sangster, Berdoff, Opoku, Sagon
Hudson Structured Capital Management Ltd., the reinsurance asset manager that does its investment business as HSCM Bermuda, has announced a raft of promotions across the business within its senior team.
Progressive to exit more property insurance business in Florida
Florida’s property insurance market continues to face challenges from a reduction in appetites, among many major insurers, to write property business in the state, with Progressive the latest to be reported to be pulling back.
Fuse re/insurance communications platform launched by Sean Bourgeois
Having successfully exited his previous start-up Tremor, Sean Bourgeois is back very quickly with another, launching Fuse as a modern, secure communications platform for the global commercial insurance and reinsurance industry.
Reinsurance sidecars return to growth, volumes hit $7.1bn in 2023: Aon
The market for collateralized reinsurance sidecar vehicles has returned to favour, with resilience demonstrated as it returned to growth after two years here it had shrunk back, Aon Securities has explained.
Interest rates slow the “healing process” for reinsurance capital supply: Goldman Sachs
Analysts at investment bank Goldman Sachs say that, while the supply of capital to the global reinsurance market is generally healing, this process has likely been slowed somewhat by the recent further increase to US interest rates.
PGGM / PFZW ILS portfolio hits ~$8.8bn, further above target allocation
PGGM, the Dutch pension fund investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, now looks after a portfolio that was valued at just over US $8.8 billion (EUR 8.1bn) at the mid-point of 2023, which has grown further above its strategic allocation target in the last year.
Stone Ridge grows mutual ILS funds 24%, cat bond strategy hits $2.1bn
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, has clearly demonstrated a strong return to growth for its mutual insurance-linked securities (ILS) fund strategies, adding 24% in ILS assets in the last quarter of record and with its cat bond focused strategy reaching a new high of $2.1 billion in AUM.
Lloyd’s updates LOC guidance, stressing need to check validity
Lloyd’s has issued revised guidance for members and members agents on Tier 2 capital limits, which encompasses the use of letters of credit (LOC) in the marketplace and in it has stressed how important it is that LOC’s have their validity confirmed on a regular basis.
For renewals, ILS portfolio construction & positioning are key: Ruoff, Schroders Capital
With the focus of ILS managers now shifting towards the all-important end of year reinsurance renewals, Stephan Ruoff, Global Head of Schroders Capital ILS, explained to us that insurance-linked securities (ILS) portfolio construction and positioning are a key focus at his firm.

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This is not every article published on Artemis during the last week, just the most popular among our readers over the last seven days. There were 28 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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