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The cyclone pool received $479mn in GWP in the year to 30 June 2024. -
The deal would represent a diversifying auto risk deal.
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Redington provides services to UK pension funds, wealth managers and institutional investors.
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Pricing is expected to “stay neutral of soften” for January renewals.
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The firm still expects to deliver positive net income for Q3 2024.
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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
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As a result of mostly flooding, £495mn ($644mn) of losses occurred in the UK.
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The ILS allocation increased in dollar terms and held steady in euros.
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Many in the ILS sector are bullish on Milton losses falling at the lower end of earnings impacts.
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The company said $13bn-$22bn will come from wind damage.
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Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.
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Florida domestics, aggregate retro and flood deals were all marked down.
