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The team of researchers predict there will be 19 named storms, of which nine will be hurricanes. -
Swiss Re’s recent underwriting actions, model updates and risk repricing have prepared it to take on more secondary perils, according to its top team.
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The reinsurer said the third-party platform, which reached $2.2bn at the start of this year, provided capital relief and supported nat-cat capacity.
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Alternative capital increased by 4.4% after two years of stagnation.
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The syndicate won new backers after Credit Suisse ILS significantly scaled down support.
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The feeder fund to Neuberger Berman ILS strategies took a defensive stance ahead of 2021 Atlantic hurricane season.
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The move would enable the company to achieve “overall actuarial soundness”.
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The agency highlighted potential aviation losses from the war ranging from $6bn to $15bn.
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Chances of a major hurricane making landfall is above the norm this year.
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Continuing a trend of several years, secondary perils caused most insured losses at $81bn, or 73% of the total.
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The study says a more La Niña-like environment has driven the trend.
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A flurry of selling in the secondary cat bond market is causing “weakness in pricing”, according to a note by Twelve Capital, as sources suggested investors are moving to free up capital for what is expected to be a bumper pre-hurricane season phase.
