Trading Risk February 2018
-
Mercer Investments principal Robert Howie said that single-digit reinsurance rate increases may be attractive to ILS investors given the performance of other asset classes.
-
Markel Catco's "eye-catching" hike to its wildfire loss reserves in its December monthly report implies that the Californian disasters triggered the firm's "floating back-up" pillars, according to a Numis analyst's note.
-
Securis and StarStone have agreed a partnership that will expand the ILS manager's US property insurance portfolio, Trading Risk has learned.
-
Guy Carpenter told Trading Risk that rate increases on retro business ranged from 5 to 25 percent on a risk-adjusted basis, with pricing dependent on loss experience.
-
First quarter cat bond issuance has already reached $1.56bn after the World Bank's Latin American earthquake cat bond upsized to close at $1.36bn, according to Trading Risk data.
-
The cumulative insured loss number from PCS for 2017 hurricane and wildfire claims now stands at $68bn, with all cat perils in the US totalling $88bn.
-
ILS spreads have widened in the mid-to-high teens range after last year's losses, Swiss Re Capital Markets estimated in its latest quarterly market report.
-
The second-largest ILS manager posted a $200mn incremental gain in assets under management in January as it said it chose not to draw down on some post-loss capacity.
-
The sidecar market has expanded notably in 2018 as Sompo and Axis became the latest carriers to provide updates on new or expanded vehicles.
-
The strategy of Langhorne Re, the closed-ended life fund set up last month by RenaissanceRe and life reinsurer Reinsurance Group of America (RGA), will be based largely around a leveraged asset play, according to sources.
-
Bermuda-based (re)insurer XL Catlin placed more than $500mn of new catastrophe limit for 2018 and increased alternative market retro support to more than $3bn, as ceding strategies among major carriers diverged following last year's losses.
-
Floridian insurer Heritage has named Kirk Lusk as its new CFO with effect from 28 April, when Steven Martindale will step aside.