ILS

The reinsurance segment is heading for a hard market regardless of whether the loss is $40bn or $60bn, but the swing will exacerbate trapital and influence the reload, Convergence conference panellists suggested.

The New Zealand pension investor said the range of outcomes for its ILS portfolio was “wide”.

Buyers are more open than ever to different sources of capacity, but the timing of entry will not be on the industry’s terms.

The two ILS firms were among those participating in a $20mn fundraise for Elpha Secure Technology.

Hurricane Ian could present a challenge for ILS fundraising conversations this autumn if ILS firms do not find more financing solutions to manage trapped capital, according to panellists at Trading Risk New York 2022 last week.

The industry’s performance was running ahead of last year as of end of August.

The Swiss ILS specialist pointed to potential impacts on Floodsmart, Florida indemnity and index-linked bonds.

Amid a wide range of industry loss estimates, it is clear that ILS trapped capital will be a major issue for 2023 with back-of-the-envelope calculations suggesting at least double-digit billions held.

Jason Bolding adds to the growing team recently joined by Alexandre Delacroix and Keshav Gupta.

The market needs to improve on contract certainty to manage pricing cycles better, Rettino told Trading Risk New York 2022.

Some are suggesting a rotation of the investor base may be underway, with a move back towards more opportunistic funds.

The study will investigate pre-landfall hurricane formation and movement.