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The reporting agency for industry loss triggers has been expanding territories and natural peril coverage over time.
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It recognised the debate surrounding the “plausibility” of such scenarios.
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The deal takes year-to-date private cat bond volumes up to $601.7mn, according to Trading Risk data.
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It comes amid fears of increased levels of inflation given the low interest environment and high levels of government recovery spending.
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The business acts as a transformer, allowing traditional asset managers the chance to participate on collateralised (re)insurance transactions.
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With investors’ decision-making increasingly influenced by ESG concerns, the ILS industry is grappling with the challenge of how best to articulate its credentials.
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The firm’s co-CEO Richie Whitt said the firm might also consider growing its retro portfolio.
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The reinsurer had previously signalled it would grow its net reinsurance portfolio after deploying less third-party capital.
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The collapse of the Aon-Willis deal will have no noticeable impact on the ILS broking business, as the market waits to see what the fate of the Willis Re team will be.
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It’s been a year of high turnover in general, but the ILS low-cost operating model can become a disadvantage in managing through such disruption.
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The broker said ILS capital had reached $96bn at the end of Q1.
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Cat bond fund managers continue to reap growth as the industry has rebounded from its Covid dip.