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All 27 funds in the index posted profits in June, with cat bonds marginally outperforming private ILS. -
The scale of the coverage offered by the firm means buyers in the emerging line of business face a challenge to swap out their capacity.
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This came after the firm said it had begun the process of moving its US E&S business off its Lloyd’s paper as it sets up a new E&S carrier.
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The carrier said a greater number than usual of North Atlantic storms are possible despite El Niño conditions.
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The firm had earlier noted that the cat bond coverage would kick in if the PCS industry loss number reached $48bn.
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The carrier reported a 66% increase in GWP for its property business.
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The ratings agency is currently in discussions with Clear Blue’s management regarding the company’s ability to replace certain programs or letters of credit.
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The CEO said Chubb has ‘never seen better pricing’ on primary property.
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The reinsurer said it was monitoring conditions in the property E&S markets, where it has been reducing capacity to grow in property treaty, as rate gains could provide fertile ground for future growth.
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The reinsurer’s ILS vehicles delivered returns of $174.9mn to investors during the quarter, with improved returns from PGGM joint venture Vermeer and the Medici cat bond fund.
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The firm said it will use the results of an analysis being conducted by experienced investigators to "take appropriate measures”.
