Scor
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The carrier retained EUR92mn for Hurricane Dorian and EUR89mn for Typhoon Faxai. -
All the reinsurers want to grow and some leaders continue to pursue growth very aggressively, according to the Scor boss.
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The combined $2.1bn offering will now look to develop common products and funds, according to the Coriolis CEO.
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The deal announced in May takes the reinsurer’s ILS assets to $2.1bn.
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The reinsurer announced it is looking at setting up a separate balance sheet to write risk on behalf of third-party investors.
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The CEO stated that the carrier’s 7 percent growth target is not reliant on M&A.
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The reinsurer cited its upcoming acquisition of Coriolis as part of plans to expand its ILS presence.
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Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.
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Industry leaders have lifted the expected total loss to a new high.
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The French reinsurer put the industry loss from the typhoon at $12bn-$15bn as it stated it is covered up to a $22bn market hit.
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The reinsurer’s combined ratio deteriorated slightly due to Q2 weather events, as it benefited from retro recoveries.
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The reinsurer’s $150mn Atlas IX Capital 2015-1 cat bond has partially triggered following an accumulation of PCS losses, sources said.
