Re/insurers

Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.

Global cat-bond capacity has grown by about 4% annually over the last six years, according to a report by the Swiss Re Institute.

Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.

Slade was previously president at Markel’s ILS fund manager Lodgepine Capital.

The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.

The amount offered in Class A and B notes has also expanded slightly.

This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.

AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.

Axis set up a new casualty sidecar in the quarter.

E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.

However, most P&C insurers will still miss their cost of capital targets and as a result, rate hardening and capacity constraints are expected to continue into 2024, according to Swiss Re.

The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.