Trading Risk May 2018
Published: 11/05/2018
UPC secures mega-lines from ILS trio
Florida-based insurer UPC has inked several large deals with major ILS managers Nephila, Elementum and Aeolus at the 2018 reinsurance renewal.
McGuire says Blue Capital still core to Sompo
Sompo International’s chief financial officer Mike McGuire said the firm remained committed to its Blue Capital platform after deciding to put its London-listed fund into run-off this week.
Markel Catco's revision to 2017 losses is one of the most...
Ever heard the underwriting joke about how to spot the actuary driving a car?
London Stock Exchange explores ILS listings
The London Stock Exchange (LSE) is in the preliminary stages of looking into road testing an ILS listing.
Cat bond market size to grow 20%
Cat bond volumes are expected to expand by 20 percent in 2018 in the aftermath of last year’s losses, Fermat Capital wrote in an ILS market update distributed by GAM.
Citrus cat bond losses rise to $151mn
Floridian insurer Heritage now expects to claim $151mn from its Citrus Re cat bonds as its Irma losses escalate, sources told Trading Risk.
BLPK is Switzerland’s latest pension fund to post ILS los...
Swiss pension fund Basellandschaftliche Pensionskasse (BLPK) has reported that its ILS investments made a 5.51 percent loss in 2017, joining a number of other local funds that reported the impact of last year’s catastrophe events.
Oppenheimer hiring for ILS expansion
Oppenheimer Funds is looking to hire personnel for a new broader ILS offering to complement its existing cat bond strategy, according to sources.
Plenum assets surpass the $350mn mark
Zurich-based ILS manager Plenum has grown its assets under management (AuM) by almost 40 percent since the start of the year, to reach $355mn at the end of April.
ILW pricing dips after 1.1 increase
Rate increases have mostly been limited to low attaching Floridian wind cover.
Markel Catco takes outsized Irma loss hike
The retro manager's Irma loss deterioration is on a higher scale than that reported by peers.
Conflicting forecasts for hurricane season
Forecasts range from a slightly more active Atlantic storm season than usual, to below-norm.
San Francisco quake rated a $30bn loss, says CoreLogic
The insured loss would account for less than 20 percent of the overall private property damage in the region, which could amount to $170bn.
Neon plans sidecar expansion on back of its drive to fini...
NCM Re's expansion will depend on how much business the insurer writes itself, said Mark Gibson, the company’s alternative capital director.
ILS ties prove their worth in post-Hurricane Irma era
(Re)insurers with established relationships within the ILS space are at an advantage in the current post-loss environment, according to Joe Ferraro, partner at Willkie Farr & Gallagher.
2018: what if further losses follow HIM?
Reinsurance rate increases fell short of expectations after hurricanes Harvey, Irma and Maria (HIM), but this could change if the market endures further major losses in 2018, panellists said at the Trading Risk London ILS conference.
Wade: ‘Uber moment’ confronts (re)insurers
Re(insurers) need to seize their “Uber moment” and regard ILS capital as “aligned capital” rather than “alternative” capital, according to Michael Wade, non-executive chair of TigerRisk Capital Markets UK.
Trapped retro collateral vulnerable
As the 2017 catastrophe claims evolve, an “awful lot” of trapped retro capital could become lost capital, chief underwriting officer at QBE Re Jonathan Parry said during a panel debate at the Trading Risk London ILS conference.
ILS share of top Florida reinsurance cessions dips in 2017
Cat bond maturities influenced the dip in market share of Florida reinsurance cessions taken by the ILS market.
Trading Places May 2018
People moves in the ILS market.