Hurricane

Munich Re has launched a new Queen Street issuance that will again cover Australian cyclone risk, Trading Risk understands.

There were few insured losses from US catastrophes in 2013 but there was above-average catastrophe activity, according to PCS statistics

New demand for reinsurance cover in Florida could bring roughly $300mn of additional premium to the market this year, Macquarie analyst Amit Kumar calculated in a recent note.

Terms and conditions will be a key factor for the Florida Hurricane Catastrophe Fund (FHCF) in deciding on what type of reinsurance cover it might seek for the 2014 hurricane season.

State-backed reinsurer the Florida Hurricane Catastrophe Fund (FHCF) will seek approval to buy up to $1.5bn of reinsurance for the 2014 season, according to reports.

Florida buyout vehicle on the road; Xaver to cost $930mn

Natural catastrophes cost the insurance industry $31bn in 2013, well below the average annual claims bill over the last ten years of $56bn, Munich Re said today.

ILS investors and certain collateralised reinsurance funds allowed price decreases of 25 to 40 percent in 2013, according to a report by Aon Benfield.

It wasn't a hurricane or any other natural disaster that prompted the 2013 wave of reinsurance sidecars, but rather a shockwave within the industry caused by the growing clout of ILS fund managers.

ILS traders have predicted that secondary trading volumes will reach $3bn-$3.5bn in 2013.

Munich Re subsidiary American Modern Insurance Group has launched its debut cat bond and is targeting $75mn of cover against US hurricanes, Trading Risk understands.

October returns from ILS funds were driven mainly by yield rather than price appreciation as the rally that has occurred on the secondary cat bond market since July began "running out of steam", ILS Advisers CEO Stefan Krauchi said.