Hurricane

‘Stalling storms’ are not new, but they may lead to more risk due to increased exposure in coastal areas, TigerRisk said.

Aon said the latest storm could lead to combined economic and insured losses of $100mn.

ILS investors were more frustrated by extended loss creep last year than by the overall hit, according to Michael Knecht of Siglo Capital Advisors.

Cat bond investors are being more careful in assessing where to put their funds after recent losses, Aon Securities CEO Paul Schultz said at Trading Risk’s ILS conference in London this month.

The relationship between Florida insurers and their reinsurers is obviously going through a rough patch. It makes you wonder whether the role of brokers this year might be akin to that of marriage counsellors.

ILS managers are upping the pressure on Florida reinsurance buyers to change terms and conditions or retain more risk as 1 June renewal negotiations continue.

Both tranches of Fema’s $300mn FloodSmart Re cat bond have priced at the upper end of the initial guidance.

Natural catastrophes account for $76bn of the total.

The Senate proposal would push the state reinsurance scheme to lift its cap on covering loss adjustment expenses.

The agency predicted five hurricanes, including two major storms, will hit this season.

Colorado State University scientists predict 13 tropical storms in 2019.

The Leadenhall Capital Partners CEO tells Trading Risk’s London ILS conference how he hopes changes in Lloyd’s will create further opportunities.