December 2016/1
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RMS said its medium term rate (MTR) hurricane model, which is to be released next year, is likely to show a 5 to 15 percent drop in average anticipated losses in a reflection of the quiet seasons of 2014-2016.
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Sensitivity-case hurricane risk modelling has become the ILS market's standard currency, but would shifting to the base-case scenarios provide greater stability for investors and underwriters?
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Industry loss warranty (ILW) purchasing by ILS funds has helped to drive incremental volumes in the niche sector in 2016, market participants said.
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A new regulatory landscape and M&A activity created opportunities for the life sector in 2016, as more companies looked to the ILS sector to transfer risk.
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It has been a sponsors' market in 2016, with undersupply meaning reinsurers have been able to exceed target sizes and secure favourable pricing.
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The Kumamoto earthquake in April was the most expensive catastrophe for insurers this year with insured losses of $5bn, according to Swiss Re Sigma estimates.
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2016 has been a year of diverging strategies for ILS fund managers, with some chasing expansion in specialty reinsurance and others focusing on branching out into new spheres of catastrophe exposure.
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Lloyd's worries; Nine Merchants; Scor CoCo; PSERS adds RenRe; Silverton renews; Athene IPO; Fronting start-up; New ILS launch; Ironshore sale
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Oppenheimer ILS fund gains; PGGM eyeing ILS expansion; Blue Capital weather fund
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Albourne Partners senior analyst and partner Michael Hamer said developing a reporting template for insurance funds would be a "win-win" for investors and ILS managers.
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Nephila's Lloyd's business is among the fastest growing in the market after the syndicate nearly doubled its capacity for next year to £228mn ($289mn).
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Markdowns to the Gator Re cat bonds in late November caused average cat bond spreads to spike heading into the end of the year, according to data from RMS.
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Returns from investing in so-called "deadcat" bonds - transactions that are nearing maturity and face little or no further catastrophe risk - have softened this year, in a reflection of generally tighter ILS market conditions.
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Fully funded structures and approval timeframes were two of the sticking points that industry participants said needed further work as part of the draft London ILS regulations.
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Price tightening ratcheted up for the cat bonds marketed in the fourth quarter, as investor demand remained strong with high volumes of transactions due to mature in the coming year.
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The trend of ILS managers investing in (re)insurance debt could be set to accelerate after two Florida companies raised capital from the sector in recent weeks.
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Florida Citizens Property Insurance will be looking to replace "a portion" of its expiring $2.16bn of reinsurance in what is shaping up to be a challenging 2017 for the company.
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What kind of presents might be waiting for the reinsurance market under this year's Christmas tree?
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ILS prices fell throughout 2016 in response to a decline in issuance volumes, which also drove innovation and an increased appetite for risk.
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US property cat reinsurance pricing is set to continue sliding in the January 2017 renewals, with additional pressure on the retrocession sector as well, sources told Trading Risk.