Results
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Costs associated with Markel's investigations into Catco drove ILS expenses up tenfold for the insurance group in 2019.
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The carrier contributed more than $100mn of the January intakes for its retro-focused Upsilon fund and the Medici cat bond fund. -
The Zeist, Netherlands-based organisation has brought two new reinsurance partners on board for 2020.
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The (re)insurer has cut its peak risk exposures by more than a third in some cases.
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Fee income from capital partners nearly doubled to $80.2mn in 2019, up from $48.5mn in 2018.
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The carrier confirms A$519mn of natural hazard losses in its fiscal first half.
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The insurer cut back the 2020 placement after making claims on the deal's first year in effect.
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Pricing dropped 6 percent from the midpoint of the initial range to reach 9.75 percent.
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Smaller-scale ILS firms won further market share as investor reshuffling continued.
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Further retro price increases at 1 January may not have yet produced much impact on the underlying reinsurance markets, but the true test will come at 1 June.
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Reinsurers pegged 2019 nat cat losses 23 percent lower than the 10-year average, but prior-year disasters created headlines.
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Over the past decade, the cat bond market has produced an average annual return of 6.38 percent, and 7.48 percent for 2019, Aon has calculated.
