Wildfire

Renaissance Re has reported a net loss of $177.1mn in 2017 for its DaVinci Re sidecar.

The Eurekahedge ILS Advisors Index reported a return of -5.57 percent for 2017, its worst since its inception in 2006.

California insurers must cover homeowners for damage caused by mudslides if fire is judged to be the "proximate cause" of the slide, regulators said yesterday.

ILS managers are "running toward" the potential to grow their market share rather than running away from last year's losses, Willis Towers Watson Securities said in its latest market report.

Aspen Insurance CEO Stephen Postlewhite has departed from the role with immediate effect, the Bermuda carrier said in a statement.

Aon Benfield's estimate of insured losses from hurricanes Harvey, Irma and Maria (HIM) has come in at $80bn, below the $92bn-$93bn forecasts from Munich Re and Swiss Re released several weeks ago

RMS has estimated insured losses from the Thomas wildfire that affected Southern California in December will range between $1bn and $2.5bn.

The Catco Reinsurance Opportunities Fund made a worse-than-forecast 27.6 percent loss for investors in 2017 after its fund manager significantly added to its wildfire reserves in December.

The PCS tabulation of industry insured losses from the October fires that spread across California has reached $10.4bn, which has developed from an initial figure of $7.3bn, sources said.

The mudslides in Southern California could result in insured losses of more than $100mn, according to Aon Benfield.

Nephila Capital wrote total limit of $1bn on AIG's expanded catastrophe reinsurance programmes for 2018, Trading Risk can reveal.

The Thomas wildfire in Southern California is now 89 percent contained having destroyed 1,063 structures, according to the Californian Department of Forestry and Fire Protection.