Life reinsurance

Suspected Ebola deaths are above the level that would trigger a $28.5mn bond pay-out.

The California Department of Forestry and Fire Protection said the blaze was so far spread across 150,000 acres and was 65 percent contained.

Insured loss estimates for the storm have now pushed into the $10bn-$15bn range, from $5bn-$10bn estimates last week.

The acreage burned so far this year is already almost double the amount last year, the ratings agency said.

There would be a 30 percent loss if there were between 250 and 750 confirmed deaths.

The new IFRS 17 accounting standard, which will be mandatory from January 2021, could lead to ILS opportunities in the life sector from as early as the middle of next year, sources said.

The fundraising takes the investment manager’s life ILS asset base to more than $2.5bn.

UK bank Lloyds has set up a JV with the investment manager, which owns a share in $3bn ILS manager Secquaero.

The improved funding status of UK pensions and lower rates have boosted the UK pension de-risking market.

Launched this year, the company targets risk from closed in-force life and annuity blocks of business.

The Dutch life insurer made its first ILS investments as it targets building a direct reinsurance portfolio.

Longevity swaps are expected to take off in the Benelux country due to an improved regulatory environment.