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The carrier is looking at a $600-$900mn hit from Debby, Helene, Milton. -
The deal would represent a diversifying auto risk deal.
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Redington provides services to UK pension funds, wealth managers and institutional investors.
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Pricing is expected to “stay neutral of soften” for January renewals.
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The policies assumed represent $200mn of in-force premium.
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The sovereign wealth fund’s ILS investments grew to $828mn.
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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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Cat bonds, private ILS and retro were all kept at “strongly overweight”.
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The ILS allocation increased in dollar terms and held steady in euros.
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Managers expect Hurricane Milton losses to shore up pricing.
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Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.
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Florida domestics, aggregate retro and flood deals were all marked down.
