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Insurance Council of Australia puts bushfire losses at A$165mn

An estimated 683 homes have now been burned as a result of the blazes.

Hagibis loss estimates converge below top-end fears at closer to $10bn

Despite early fears that the storm could rival last year’s Jebi in losses, expectations are converging around the $10bn level.

PG&E $13.5bn settlement decision nears

The settlement with individual wildfire victims will ease the way for the payout of $11bn in insurance subrogation claims.

ILS trader Selius moves from BlueMountain to $4bn alternatives manager

He will have a similar mandate at New York-based One William Street as he had at recently-sold hedge fund BlueMountain.

• Asia Capital Re agrees legacy sale to Catalina
• Markel Catco brings in Jones as new director
• Hagibis drives 0.39% ILS index loss in October
• Scor signs $300mn contingency agreement with JP Morgan
• Bernina adds ex-Nephila actuary Ross as head of analytics
• Plenum cat bond fund renews German sustainability association star

Opinion

Diworsification has given way to balance sheet bulk

How many other casualties in the reinsurance ‘squeezed middle’ are to come before change occurs?

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

Has M&A broken the mould for ILS managers?

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.