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Analysis

  • The retro spiral of the late 1980s nearly finished Lloyd's off. But those hoping that an ILW spiral might entangle and trip up the ILS market in similar complications will have to wait another day.
  • Third quarter catastrophe losses represented a 7 to 14 percent hit to the shareholders' equity of global reinsurers, with major catastrophe writers such as Everest Re, Lloyd's of London, Lancashire and RenaissanceRe the most severely affected
  • Four of the listed Florida insurers have ceded more than $1.2bn of third quarter catastrophe claims to their reinsurers, based on estimates from their quarterly disclosures
  • US homeowners' insurance premiums are forecast to expand by 2 percent to $93bn in 2017, but underlying returns on equity (RoEs) from the business are still deteriorating, according to Aon Benfield
  • US property insurers are pushing for base case rate increases of 10-20 percent on catastrophe-exposed business, even for loss-free accounts, according to a client advisory from broker Lockton
  • The Californian wildfires could add as much as another $10bn of industry losses to the 2017 catastrophe tally, as reinsurers debated whether disclosures on third quarter events were keeping pace with expectations
  • Reinsurance pricing seems to rely on a certain amount of collective signalling in as much as it does number-crunching - as underwriters gauge how far they can push rates without losing business, by looking for fear in the eyes of their opposition
  • The winds of hurricanes Harvey, Irma and Maria have propelled 2017 into being one of the reinsurance market's most expensive years for catastrophe losses ever.
  • How well-oiled is the lock on the ILS market's cashbox? That's essentially the question that the reinsurance market has been mulling over in the past month as underwriters look ahead to next year's renewals.
  • Reinsurance underwriters might have found themselves in the industry equivalent of the Christopher Nolan film Inception this year - unravelling a complicated loop of narrative threads spilling out from the nightmare losses of 2017.
  • Twelve Capital confirmed that it has hired former Barbican underwriter Aaron Coates as an executive director in its London-based sourcing team, a move first reported by Trading Risk
  • AIG has appointed Charlie Fry, the former CFO of Novae Group, as head of reinsurance buying, operations and transformation
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