July 2016/1

Assets under management (AuM) at the top 10 ILS funds grew by 7.7 percent in the half-year to 1 July, as growth accelerated from late 2015.

The Insurance Bureau of Canada (IBC) estimated that insured losses from the Alberta wildfires in May are likely to cost C$3.58bn ($2.76bn), coming in C$1bn lower than previous industry loss estimates from Property Claim Services.