ILS

Robert Salzmann has held a variety of roles at SI Re, most recently overseeing the carrier’s ILS markets and retrocession team.

The IOP will be integrated into the Open Protocol reporting template.

Experts at the Trading Risk New York conference emphasised in-built cyber risk protections from defences to exclusions, as ILS managers grapple with understanding the peril.

The mortgage insurer last closed a similar deal more than two years ago.

Hannover Re’s Bermuda-based reinsurance transformer Kaith Re has issued a new $15mn private cat bond, a Bermuda Stock Exchange filing confirms.

Hiscox and Aeolus are looking to capitalise on strong investor appetite for cat bonds this year with their respective fund launches.

The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.

The Dutch pension fund giant amended several mandates in 2022 and has posted a 6.3% return from ILS in the first half of 2023.

Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.

A challenge facing the industry in the years to come is the question of how can it move through a rotation of its investor base to capture the growth opportunities that have arisen.

Competition at the upper layers of reinsurance towers could lead to the creation of ‘riskier’ cat bonds, said Swiss Re Capital Markets.

Prabis does not envisage market softening at this stage, for reasons including wider macroeconomic impacts.