Rates

The insurer increased its participation at the Japan renewals in April.

The cover was raised across five tranches.

Both tranches of Fema’s $300mn FloodSmart Re cat bond have priced at the upper end of the initial guidance.

The state is “still a cash cow for reinsurers” as over the past decade the Florida reinsurance combined ratio has been running at 79-80 percent, according to the analysts.

The bill will now pass to the rules committee.

Some reinsurers are saying their views of Florida risk have changed post-Irma.

The changes in insurer appetite to participate in the Florida Hurricane Catastrophe Fund and new guidelines from ratings agency Demotech could create opportunities for the ILS market.

The impact of Hurricane Irma loss creep is coming to the fore ahead of the June renewals.

Willis Towers Watson put the increase at 4 percent whereas the CIAB reported a 2.9 percent uptick.

In a note to investors Matt Carletti ranked catastrophe aggregate programmes as being set to see the largest price rises.

The insurer pinpoints that aggregate transactions and structures exposed to perils with less robust catastrophe models will be most affected.

The insurance premium on the EUR45mn ($51.5mn) Italian multi-peril Atmos notes settled 12.5 percent above initial median targets.