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Insurance Insider has gathered data on geographical areas prone to cat events, which are outside of southeastern US states, that keep weather experts awake at night. -
The company’s targeted Vescor cat bond would have provided collateral to meet auto and other obligations, but there were multiple structural points of risk for investors.
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Fronting companies typically hold premiums in reserve meaning that credit exposure to letters of credit on Vesttoo transactions should only be required in the event of deteriorating losses.
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Some sources have called for more transparency on secondary trades, though others note the buy-and-hold nature of the market limits trading appetite.
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The cat bond market has benefited from hardening rates and more remote structures.
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ILW limit of around $1bn could change hands depending on where the Hurricane Ian industry loss number settles.
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At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
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Cat bond issuance in H1 at around $8.6bn was almost a match for full-year 2022 volumes at $8.9bn, as the market staged a recovery at a pace that surprised many participants after a challenging second half last year.
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Compelling rates are on offer for markets willing to write wildfire risk in the sunshine state.
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A Guy Carpenter report recently noted that risk models are converging for the most remote risk levels.
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The life segment has shifted from its genesis in mortality and morbidity risk transfer as lapsed risk deals have proliferated.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
