Hurricane

Alternative reinsurance growth; ILS rankings; Cyber loss potential; Egon loss estimates rise; Hannover Re fronting expansion; PIC reinsures £1bn longevity risk...

RenaissanceRe and Swiss Re remained the two biggest carriers on the $1bn reinsurance programme bought by the Florida Hurricane Catastrophe Fund (FHCF) in 2017.

Florida Citizens bought more collateralised reinsurance for the current hurricane season than it had in 2016, after lifting the size of its traditional programme by more than 50 percent.

Economic losses from a major cyber outage could be as large as damages caused by major hurricanes, according to a research report published by Lloyd's today.

The Mexican government has returned to the ILS market to seek $290mn of reinsurance from a new multi-peril cat bond to protect its Fonden natural disaster fund, Trading Risk understands.

New Paradigm Underwriters will offer up to $100mn of parametric insurance limit on Xchanging's electronic trading platform X-gRm.

The Insurance Council of Texas (ICT) said hailstorms that pounded the state last year resulted in over $5bn in residential losses - the highest figure on record.

Colorado State University (CSU) meteorologist Philip Klotzbach has said his group is now expecting three major hurricanes in the Atlantic basin this hurricane season, instead of two

Florida homeowners' insurer Federated National has renewed its reinsurance programme with $2.19bn of aggregate limit, down slightly from the $2.22bn secured last year, according to a Securities and Exchange Commission filing.

Florida homeowners' insurer Federated National has renewed its reinsurance programme with $2.19bn of aggregate limit, down slightly from the $2.22bn secured last year, according to a Securities and Exchange Commission filing.

Florida's State Board of Administration (SBA) said it had renewed a $1bn reinsurance programme covering the Florida Hurricane Catastrophe Fund (FHCF) at a 4 percent face-value discount to last year's rate.

The third storm of the 2017 hurricane season, Tropical Storm Cindy, has made landfall in the US near the Texas/Louisiana border, according to the US Met Office