Best of Artemis, week ending February 23rd 2025

Here are the ten most popular news articles, week ending February 23rd 2025, 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 February 23rd 2025:

1. UBS has high conviction for ILS. Takes some profits, maintains exposure
   UBS Hedge Fund Solutions, a division of UBS Asset Management focused on managing and advising on a range of alternative assets for clients, has revealed that looking across 2025, the group continues to see reinsurance and insurance-linked securities (ILS) as one of its highest conviction themes in Credit &  Income.
2. Reinsurance growth expectations reset higher as market recalibrates on losses: Berenberg
   As the global reinsurance industry absorbs the realisation that the California wildfires have driven a particularly costly start to the year, analysts at investment bank Berenberg say this may recalibrate expectations for catastrophe losses across the insurance sector, leading to higher growth expectations among reinsurance capital providers.
3. Man AHL planning to launch UCITS catastrophe bond fund strategy
   Man Group, a global independent alternative and active investment management firm, has made an application to establish a UCITS catastrophe bond fund under its Man AHL brand.
4. Intersection of legacy and ILS could drive deal flow in 2025: PwC
   According to PwC, the legacy insurance and reinsurance market continues to evolve, as highlighted by insurance-linked securities (ILS) transactions announced by legacy and run-off reinsurance specialist Enstar in the second half of 2024, while the firm also suggests that the convergence of traditional legacy and ILS “could be a source of future deal flow.
5. Elementum launches Njord Cat Bond Fund, with higher-yield US wind-focus
   Elementum Advisors, LLC, the alternative investment manager that specialises in collateralized natural catastrophe event reinsurance investments, has announced the launch of a new higher-yield focused, multi-investor catastrophe bond fund strategy.
6. Enstar acquired Class 3B property cat reinsurer for ~$46m in recent ILS legacy deal
   Enstar, the legacy and run-off reinsurance specialist, has said that it acquired a Bermuda based Class 3B reinsurer in its most recently announced legacy transaction focused on property insurance-linked securities (ILS), for approximately $46 million.
7. Topanga Re cat bond price recovers further, as risk of wildfire loss seen declining
   We’re told by sources that the secondary market price for the $100 million Class A notes of Farmers Insurance Group’s Topanga Re Ltd. (Series 2021-1) catastrophe bond has recovered further, as the cat bond market views the risk of principal losses from the California wildfires as having declined.
8. Moody’s hires PCS’ Alex Mican for ILS advisory and business development
   Alex Mican, the former Head of PCS Global Strategy and Growth at Verisk, has now joined Moody’s in a role focused on insurance-linked securities (ILS) advisory and business development.
9. Allstate estimates $1.4bn of reinsurance recoveries from California wildfires
   US insurer Allstate has disclosed that it expects $1.4 billion of reinsurance recoveries will be made from its program after the recent Los Angeles, California wildfires.
10. AXIS seeks $150m Northshore Re II 2025-1 named storm & quake cat bond
    AXIS Capital, the global specialty insurance and reinsurance underwriter, has returned to the catastrophe bond market aiming to secure $150 million or more in North American named storm and earthquake protection from a Northshore Re II Ltd. (Series 2025-1) issuance.

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 32 new articles published in the last week.

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