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Both LGT and Schroders have signed up to the ILS notes trading platform. -
The EUR45mn ($49.50mn) Atmos Re I cat bond from Unipol is likely to lose nearly 50 percent due to severe weather events in Italy, according to sources.
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Experts have forecast that the cat bond market will rebound heading into 2020 following low issuance this year, with a diverse crop of maturities likely to drive more favourable dynamics for sponsors.
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Aon’s plan to launch an auction platform in time for 1 January 2020 suggests a struggle is underway in the reinsurance space for the position of auction technology market leader.
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The major continental reinsurers are looking to continue strengthening their US positions in reaction to the 2019 price increases.
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The latest issuance takes the total amount of Eclipse transactions for the year to $279.6mn.
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The risk modelling firm has released the highest estimate for industry losses so far and the top end of its prediction could hit some ILWs.
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The banking fund’s ILS investments have increased as fellow UK investor IBM Pensions Trust keeps its allocation steady.
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The Atmos Re I cat bond provides Unipol with protection against atmospheric events in Italy.
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The utility firm also criticised an alternative Chapter 11 proposal led by Elliott Management.
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MS&AD noted that losses could yet increase and highlighted its access to reinsurance coverage.
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The firm’s estimate points to a higher top-of-the-range loss than early market forecasts of between $1.5bn and $5bn.
