Property
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Pricing is expected to “stay neutral of soften” for January renewals. -
The policies assumed represent $200mn of in-force premium.
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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
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As a result of mostly flooding, £495mn ($644mn) of losses occurred in the UK.
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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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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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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 multiple offered on the deal is around 2.5x the expected loss.
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The bond triggers on a parametric, per occurrence basis, across Class A and Class B tranches.
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Most of the insured loss was attributable to wind.
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Icosa said certain cat bonds could see more than 0.2 points of price movement.
