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Cat underwriters were broadly satisfied at the Florida-dominated 1 June reinsurance renewals, with average risk-adjusted rate rises calculated to be in the 10-15 percent range, according to analysis from sister publication The Insurance Insider.
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Sidecar launches this year are likely to focus on the retrocession markets with $1bn-$2bn of new funds expected to join the market, predicts Goldman Sachs partner Michael Millette.
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The private side of the convergence market has been gaining force over the past year and observers say its momentum is likely to continue after it cleared the hurdle of the Japanese earthquake.
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Catastrophe modelling is not an exact science, but its outputs still hold sway with risk takers. Bill Keogh, president of cat modelling firm Eqecat, urges us to take a leaf out of Donald Rumsfeld's book...
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On the eve of another hurricane season, US cat reinsurers are now widely expected to enjoy typical rate increases of around 10 percent on their mid-year renewal programmes.
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Bermudian reinsurer Flagstone heads the Q1 loss table from sister publication The Insurance Insider, confirming warnings from ratings agency Moody's that the company was experiencing outsized losses from the string of natural disasters so far this year.
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Despite a wave of punishing catastrophe losses in the first quarter, only a handful of reinsurers are in the market for retrocession protection, making for a tense game of "chicken" before the US wind season.
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Although Munich Re's Muteki deal became the first cat bond casualty of the 11 March Tohoku disaster, ratings agencies have taken action on a number of second event bonds now considered at risk for the US wind season.
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Where is capital coming from in the convergence market? Trading Risk has a go at finding the source of funds...
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Cat bonds did not perform as strongly last year as in the heady days of 2009, but Swiss Re said the results showed the market had fully recovered from the financial crisis.
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Is the recent spate of costly earthquakes a deadly trend or just coincidence?
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The ILW market is becoming increasingly bespoke... In our regular quarterly review of the sector, Willis Re executive director Henry Kingham looks at ILW trading drivers.
