-
New issuances fell to the lowest level since 2011, amid an uptick in risk levels and US exposures, according to Trading Risk data. -
The retro transaction priced below the target range, according to sources.
-
Trapped collateral left overall capacity flat, despite a 5 percent increase in rated capital.
-
Hyperion X estimated retro rates have risen to around 140 percent of their pre-Irma levels.
-
Over the past year, Willis Re's index shows riskier deals and a hardening market have lifted average cat bond yields.
-
The broker's chairman of international business James Vickers said reinsurers are only trimming capacity on the edges of the cat market.
-
The broker’s 1st View report highlighted diverging reinsurer tactics and segmented renewal outcomes.
-
US cat reinsurance renewals moved flatter than expected as 1.1 neared.
-
The reinsurer was among the blue-chip cedants to benefit from an earlier renewal and occurrence structure.
-
Risk-adjusted rate increases have put returns back to 2014 era benchmarks, sources estimated.
-
The main disrupted segments are still aggregate retro and sidecar vehicles, where negotiations over the level of trapped capital have held up the renewal process.
-
The cat bond is the second Matterhorn deal to be launched by the (re)insurer this year.
