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Indirect exposure to cat risk through long-term investors gives Markel optionality. -
Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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Several Florida start-ups are poised to begin writing business this year.
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Wildfire is rarely singled out as an exposure that can shift portfolio outcomes.
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Management track record has been a factor in capital raising for 2025.
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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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A $40bn Milton loss should barely dent many ILS returns but will trap some capital.
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
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Winning higher-fee private ILS mandates will strengthen firms’ negotiating positions.
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ILS investors’ stress over Gibson Re is unlikely to inhibit legacy ILS’s future.
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Reinsurer-managers are building out asset management infrastructure as they expand.
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Relentless focus on annual outcomes provides a packaging that doesn’t fit the purpose.
