Rates

The industry can put a much better and more accurate price on risk, according to Michael Butt.

The Kincade Fire in Sonoma County, the Simi Fire in Ventura County and the Getty Fire on the outskirts of Los Angeles are almost extinguished.

The significant pricing difference between the reinsurance and retrocession markets does not make a lot of sense, TigerRisk president Rob Bredahl said.

Rates fell back to their Q1 levels after experiencing an uplift in the second quarter of the year.

As more ILS managers look into setting up rated platforms, commentary from two of the latest firms considering this move highlights the variety of motivations that are driving the trend.

The lift in ILW pricing seen at mid-year has been unilateral across most products and was a further increase on the 2018 pricing correction following 2017 events, according to Aon.

Sidecar renewals have already begun kicking into gear with new potential sponsors and buoyant demand expected.

The major continental reinsurers are looking to continue strengthening their US positions in reaction to the 2019 price increases.

Participants predicted the rate pressure that has been centred on Japan and Florida would have a broader spill-over next year.

The CEO was speaking as Aon launched a new auction platform in Monte Carlo.

Rewind a few years and “hot money” was one of the pejorative labels thrown at a burgeoning ILS sector.

Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.