Risk losses

The insurer lifted the attachment on an aggregate portion of its group reinsurance treaty, which was otherwise unchanged after its restructure for 2019.

Recent disasters have tested the idea of catastrophe risk as a short-tail risk.

The insurer’s overall cat losses were below its budget as higher Australian disaster activity was offset by benign international claims.

The reinsurer said its nat-cat exposure is at the highest level since 2015, with support from third-party capital.

Rate increases of up to 25 percent on high-risk, loss-affected wind covers have been diluted by flat rates on quake and loss-free layers.

The Bermuda-based ILS manager has signed up to use the specialist’s climate risk tools.

Cat bond spreads proved to be largely unaffected by last year’s catastrophe activity as sponsors topped up ILS cover in a busy second quarter that nonetheless failed to outstrip 2017’s record volumes.

Early signs indicate third-party capital is being deployed aggressively in the Florida market.

Convergence reinsurance capital rose by 9 percent throughout 2017, from $75bn to $82bn, Guy Carpenter said in its January renewals report.

Smart beta products seem to be the flavour of the month

RenaissanceRe said it would take a net $625mn of losses from the three recent hurricanes and Mexican earthquakes.

Head of ILS analytics at Twelve Capital Jan Kleinn has left the firm after two years, according to market sources, with another senior analytics executive Markus Stricker also placed on gardening leave.