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Redington provides services to UK pension funds, wealth managers and institutional investors. -
Pricing is expected to “stay neutral of soften” for January renewals.
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Cat bonds, private ILS and retro were all kept at “strongly overweight”.
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Managers expect Hurricane Milton losses to shore up pricing.
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Many in the ILS sector are bullish on Milton losses falling at the lower end of earnings impacts.
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Post-Milton investor interest in ILS has yet to translate into dollars allocated.
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The company said $13bn-$22bn will come from wind damage.
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Losses from the hurricane may not significantly impact on many funds’ annual returns.
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Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.
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Florida domestics, aggregate retro and flood deals were all marked down.
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The Dutch scheme is the largest ILS allocator with a long list of mandates within the sector.
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The estimate includes private cover for residential, commercial and industrial property.
