Weather
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As Tropical Storm Barry heads for the coast, historical data puts damages from similar storms at less than $1bn. -
Retro brokers are itching to get back to the driver’s wheel – but they may have to wait a bit longerThe retro market has been hard hit in the past couple of years by trapped capital and losses.
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The carrier said the ILS business was finding opportunities in the retro market where reduced capacity has “significantly improved rates”.
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Persistent US thunderstorms also prompt another month of billion-dollar-plus economic damage.
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Barry could go on to produce storm surge and tropical storm or hurricane force winds across parts of Louisiana, Mississippi and upper Texas coasts, the NHC said.
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The Colorado State outlook remains stable despite a change in the odds of a weak El Niño continuing into peak summer months.
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Assurant is paying $165mn in premium for the 1 July reinsurance renewal, before tax, a 20.7 percent increase on last year.
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It is more efficient for ILS managers and cedants to be able to give collateral clawbacks, the Credit Suisse ILS head has argued.
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The payments will flow to individuals within the fisheries industries as well as participating countries.
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Rates are said to be easing following the mid-year Floridian renewals.
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Reinsurers that have been reliant on retro cover also pared back their market share, as the broker said mid-year renewals showed tangible pricing momentum.
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A derecho event from 21-22 June travelled more than 1,000 miles across the country.
