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Cat loss hit for Japanese insurers drops year on year

Mitsui Sumitomo estimated its Hagibis hit at $2bn while Sompo said it had recovered almost $1bn from reinsurers this year.

CyberCube appoints Millette to board following $35mn fundraise

Hudson Structured founder Michael Millette joins the board of directors after his company led the InsurTech’s latest funding round.

Everest Re seeks $375mn Kilimanjaro cat bond top-up

The deal points to a significant price correction in the cat bond market since 2018, with projected spreads up more than 20 percent when compared with past deals.

Legacy life manager Resolution Life completes $3bn capital raise

The long-term legacy life portfolio manager will use the capital for new run-off acquisitions.

• Queensland hailstorm cat produces A$40mn initial losses
• AJG completes acquisition of ILS services firm Horseshoe
• Queensland insurers meet over Australian cyclone reinsurance proposals
• Pioneer MGA gains backing for US cat facility
• Former Clyde & Co head to advise Elliott
• Philippines cat bond prices at $225mn target size

Opinion

There are trade-offs to trying to time the retro markets

Has M&A broken the mould for ILS managers?

Two different types of man-made catastrophes are emerging as the results season’s theme of debate.

Large loss estimate ranges are arguably just masking risk modelling limitations – not improving them

Analysis

Dicing up PG&E’s $11bn wildfire payout

It will be many months before the $11bn payout agreed between Pacific Gas and Electric Company (PG&E) filters through to the (re)insurance and ILS markets, with this lump sum likely to benefit some parties more than others.

Tokio Marine’s Pure deal highlights HNW growth prospects

Tokio Marine’s $3.1bn bid for high-net-worth (HNW) insurance specialist Pure represents a bid on the growth prospects of the segment, sister title Inside P&C argued in a recent analytical note.

Q3 2019 ILS returns show improvement

A group of ILS funds tracked by Trading Risk produced more robust returns in Q3 compared to last year’s third quarter, despite Typhoon Faxai and Hurricane Dorian.

Lloyd’s ILS plans welcomed but questions over tax hurdle

A drive to offer standardised Lloyd's ILS products must be balanced against the need to be flexible, market participants have said.

Supplements

Monte Carlo Roundtable 2019

Reconstruction in the ILS market continues, with ongoing concerns about investor sentiment, capacity growth and the impact of retro rates

Investor Guide to ILS: H2 2019

Reinsurance conditions began moving in investors’ favour in mid-year 2019, marking a delayed reaction to 2017-2018 losses.