Wildfire

The retro manager's Irma loss deterioration is on a higher scale than that reported by peers.

The month brought nearly 70 tornadoes, Aon Benfield's Impact Forecasting said.

Lancashire's $500mn sidecar took a loss in Q1 but grew its premium base by a third.

ILS funds averaged a loss of 0.24 percent in March as 2017 events deteriorated.

The latest PCS loss number for Hurricane Harvey has edged up to $17.1bn, from a prior figure of $15.7bn, sources told Trading Risk.

Earlier this year, while reinsurance risk-takers were being buffeted by winter storm losses and rising wildfire and hurricane claims, another niche corner of the financial markets was experiencing its own "vol-mageddon".

Aspen Bermuda has launched a $150mn cat bond Kendall Re 2018-1 which will provide it with annual aggregate county-weighted cover for US multi-peril risk as well as protection against European storm risk.

Chubb reported net pre-tax catastrophe losses of $380mn for the first quarter, which included $125mn from the mudslides that hit Southern California in January.

Two tranches of Nationwide Mutual's Caelus cat bonds are expected to be nearly wiped out by 2017-18 losses, following an investor update which put the insurer's Winter Storm Riley claims at $90mn-$130mn, Trading Risk can reveal.

PCS has released an initial loss figure for Winter Storm Riley of $1.36bn, according to sources.

Several low-lying aggregate tranches of Residential Re cat bonds are expected to pay out to USAA after the insurer's winter storm losses took its annual covered losses to $1.03bn, Trading Risk understands.

Over 30 000 residents have been told to evacuate Santa Barbara county in southern California, as weather watchers issue flood and mudslide warnings.