Trading Risk June 2019
Published: 13/06/2019
‘Land grab’ for retro cover as capacity locks up
Rates are believed to be around 15-30 percent up in the retro market, helping in turn to support increased rates in the Florida renewal.
Reinsurer-managers bulk up but ‘affiliated model’ remains...
Ultimately, with advantages and challenges in any ownership situation, the parentage of an ILS platform is not going to be the determining factor in its success.
Florida renewals rewind clock on pre-Irma softening
However, the verdict on whether Florida rate increases were enough to satisfy underwriters still seems a split one.
FHCF seeks $1bn cover at right price
The Florida Hurricane Catastrophe Fund (FHCF) is marketing its $1bn reinsurance programme but has indicated it is looking for flat risk-adjusted rates, according to sources.
Florida carriers turn to FHCF as reinsurance rates rise
Some of the largest Florida carriers increased their reinsurance limits at this renewal, but they were able to keep control of overall expenditure by opting for more Florida Hurricane Catastrophe Fund (FHCF) protection.
The ILS market needs to live up to its promises on liquid...
As the FCA updates the market on its view of the Woodford funds saga, some of the material it is publishing has echoes that may resonate within the ILS market.
Renewals fall short amid high volumes of cat bond maturit...
Only around half the $3.4bn of cat bonds that have matured this year so far have been renewed, with a further $3.3bn of deals set to expire over the rest of 2019, according to Trading Risk data.
ILS works as a diversifier but only a limited ‘safe haven...
A paper by academics at Hamburg University compared the results of the Swiss Re global cat bond indices against indices from various other sectors.
Mercer: ESG offers ILS opportunities
All insurance has a social purpose but covers for lower income countries should probably be considered more impactful transaction than Florida coastal risk.
Streak of US tornadoes expected to hit Q2 results
The streak of tornadoes in the US this May means 2019 is set to have highest level of activity since 2011 but the impact on (re)insurers will be offset by lower than average hail events.
Swiss Re deepens reliance on Sector Re
Swiss Re has increased the capacity of its Sector Re sidecar to $670mn, despite a tightening of the wider retro market.
Stone Ridge Interval fund drops to $4.8bn
Stone Ridge Asset Management has once again been forced to ration redemption requests at its interval fund after investors sought to cash out nearly a quarter of the fund’s share base, Trading Risk can reveal.
Millette courts Standard Syndicate
Catalina, Premia and a consortium made up of Compre and Hudson Structured are among the bidders through to the second round of the sale process for the Standard Syndicate and Charles Taylor’s Lloyd’s business, sister publication The Insurance Insider reported.
PSERS nearly doubles ILS holdings
The Pennsylvania Public School Employees’ Retirement System (PSERS) fund nearly doubled its ILS investments as it reloaded after the 2017 catastrophe losses, taking its holdings in the sector to $803mn at 30 June 2018.
Swiss pension PK SBB returns 4.5% ILS profit in 2018
Swiss funds active in ILS recorded stable or slightly increased allocations after 2017’s losses.
Bermuda ILS overhaul welcomed but will new vehicles take ...
The ILS market has broadly welcomed moves by the Bermuda Monetary Authority (BMA) to create a new collateralised insurance vehicle, but opinions vary on whether the new rules will prove to be onerous.
Demand surge contributes to rising Jebi claims
Ten months on from Typhoon Jebi, there is still considerable uncertainty around why the storm’s insured losses are expected to be so much higher than the initial modelled figures.
Trading Places June 2019
Aspen Re has appointed Meredith Head as leader of North America property catastrophe. She will join in September and report directly to Aspen Re CUO and Aspen Bermuda CEO Christian Dunleavy.