Artemis.bm’s Post

"USAA’s target dips to $125m for new ResRe cat bond, as zero-coupon tranche dropped" This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. USAA has now lowered the target for its latest catastrophe bond to $125 million, as  a zero-coupon tranche of notes from the Residential Reinsurance 2024 Limited (Series 2024-1) issuance have been dropped, while the other two multi-year tranches […] https://lnkd.in/gk2Hh8vy

AM Best reports that property catastrophe bond issuance hit $45 billion by mid-2024, setting a new record. The ILS market also saw growth, reflecting increased demand and nat cat risks. The 144A market set a record for single-quarter issuance in Q2 2024. https://hubs.la/Q02LPT-Y0

Property catastrophe reinsurance rates-on-line slowed further at the recent mid-year renewals, with a general flat to slightly down rate environment, resulting in Guy Carpenter’s U.S. Property Catastrophe Rate-On-Line Index now being up by just 1.2% in 2024.

Property catastrophe #reinsurance rates fall 5%, says Howden Re. The reinsurance market is experiencing a period of adjustment, due in part to a resurgence in dedicated sector capital, which now exceeds 2021 levels. This recovery, supported by strong ILS inflows, has increased capacity at the top of programmes and led to risk-adjusted rate reductions in higher layers. Buyers and sellers engaged early in the year, with cedents targeting better terms and conditions to address previous increases in limits and attachments, as well as narrower wordings. Reinsurers exhibited a proactive stance by completing many programmes early, enabling the deployment of increased retrocession capacity as the renewal drew near. This strategic approach enabled some buyers to achieve more favourable terms in what remains a cautious market. Wade Gulbransen, Howden Re Head of North America, commented, “It is crucial that our clients secure optimal coverage in this rapidly evolving landscape. This means not only finding capacity, but also ensuring it aligns with their risk profiles and financial objectives. Our focus remains on providing innovative thinking alongside dynamic placement strategies to meet these challenges head-on.” “The reinsurance market is at a critical juncture. While the recovery of dedicated capital and increased capacity signal a potential softening of rates, the forecasted active hurricane season and other market pressures could counteract these trends. Strategic adaptability and expert guidance are essential in navigating these dynamics.” David Flandro

RESULTS: Concerns over the current elevated forecast for storm activity in the Atlantic basin this wind season led Arch Re to press pause on growing its property catastrophe book at the mid-year renewal, a turnabout from the capacity it deployed at the 1.1 renewal when premium soared... https://lnkd.in/gPzES9CU Arch Insurance Group Inc. I Arch Re #Insurance #Reinsurance #Bermuda #Property #Casualty #insurancenews #reinsurancenews #PropertyCat

A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion, according to Artemis.bm’s latest quarterly market report.

How can agents educate customers about secondary perils and mitigating risks? Mark Maroon, American Modern’s VP Head of Portfolio Management & Reinsurance, discusses this and more in a recent Independent Agent article. Read the full article here: https://ow.ly/KN4k30sE3vx

Plenty of capital available in the excess property casualty markets.

Morgan Stanley analysts have emphasised that, despite expectations of an above-average hurricane season, the P&C reinsurance market maintains a positive outlook heading into 2025, thanks to a relatively stable pricing environment. #insurance #reinsurance

🌍 Parametric (Re)Insurance is gaining momentum!   We’re excited to see the growing interest in parametric solutions, as highlighted in this insightful panel discussion at Monte Carlo. NormanMax’s very own Stuart Newcombe ACII, Active Underwriter of NormanMax Syndicate 3939 at Lloyd’s, spoke on a panel about the increased interest in and discussions about parametric (re)insurance. These solutions are driving the future of risk transfer by offering fast, transparent payouts for natural disasters and extreme events. NormanMax is proud to be at the forefront of this movement. Our parametric products for hurricanes and earthquakes provide critical protection, complementing traditional coverage and resolving claims rapidly and without the need for physical loss or deductibles.   As the panel emphasized, parametric (re)insurance is key in addressing the growing protection gap. We are excited to continue our mission of expanding access to these innovative solutions.   Watch the full discussion here to see how parametric (re)insurance is shaping the future of our industry.   #ParametricInsurance #RiskManagement #InsuranceInnovation #NormanMax #MonteCarlo #ReinsuranceMonth #NMIS #HurricanePM #ShakeAndPay #HurricaneParametric #EarthquakeParametric #ParametricInsurance #ParametricReinsurance #RVS #TheInsurerTV