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Loss inflation hits as Everest Re boosts reserves $250mn

Re-opened claims in Florida hit aggregate policies written by the reinsurer.

Beazley profits down 64%

Beazley strengthened reserves for property losses in 2017 due to claims from last year’s catastrophes, as profits dropped.

UIC hires Adair from Greenlight Re

The move to add an industry veteran forms part of a larger strategy to expand in the US property and casualty (P&C) market.

Payne leaves Credit Suisse’s Arcus syndicate

Nicky Payne was CUO and active underwriter at the Lloyd’s vehicle backed by Credit Suisse’s ILS funds.

• Baxter and Forcey to join AmTrust from Axis
• Dutch pension fund loses 2.3% on ILS
• Slater and Champion to join Sussex Capital
• AIG completes $5.56bn Validus acquisition
• Blue Capital reports 0.69% June return
• Jeff Franklin appointed CUO of Pillar

Opinion

Last year the hot topic was how the ILS market would respond to the challenge of reloading. But this year, the tables have turned.

As insurers dodge curveballs from Irma claims, reinsurers are next up to face scrutiny

As convergence market lines blur, Nephila has a range of options as it seeks new investors

By setting up its own rated vehicles, Credit Suisse has highlighted how converged the reinsurance market has become

Analysis

Q2 ILS returns up year on year

The average second quarter returns for a group of ILS funds tracked by Trading Risk has increased to 1.36 percent, compared with 0.79 percent for the same quarter last year.

Fast-paced Q2 fails to outrun 2017 record

Cat bond spreads proved to be largely unaffected by last year’s catastrophe activity as sponsors topped up ILS cover in a busy second quarter that nonetheless failed to outstrip 2017’s record volumes.

Winners and losers as Florida insurers’ Irma losses creep

State-backed insurer Florida Citizens has borne the brunt of Irma losses, as other leading carriers in the state managed to keep their share of the event’s claims below their market share, Trading Risk analysis shows.

ILS markets broaden Florida participation: Willis Re

ILS managers were offering larger line sizes and seeking to compete more often on reinstateable layers in the Florida June renewal, Willis Re observed in its mid-year 1st View report.

Supplements

Trading Risk Awards 2018

Ten years ago, amid the turmoil of the global financial market crisis, the first Trading Risk awards ceremony was held.

Trading Risk Investor Guide to ILS

It was a rough 2017 for investors in ILS, as hurricanes Harvey, Irma and Maria swept through the Atlantic. But 2018 has offered some uplift to yields from the sector.