-
Spreads at levels favourable to sponsors could power Q1 2025 pipeline. -
Helene losses were spread wider than initially suggested, in contrast to Milton claims.
-
Strong growth in fee income builds on the favourable rating environment.
-
Cheaper traditional reinsurance as of mid-year may have dampened deal pipeline.
-
The failure of a Jamaica bond to pay out following Hurricane Beryl damage has brought focus onto the deals.
-
Some $409mn of volume entered the market in the week to 4 November.
-
The low PCS number is presenting a challenge for ILW buyers and sellers.
-
Reserve risk specialist Enstar has struck its first deals in the ILS space this year.
-
Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
-
Managers expect Hurricane Milton losses to shore up pricing.
-
Many in the ILS sector are bullish on Milton losses falling at the lower end of earnings impacts.
-
Hurricane Milton will show the ILS product behaving as investors expect it to.
