-
The government intends to develop a policy for financing of natural disaster risk which could include cat bonds.
-
The Florida state insurer confirmed plans to add $200mn of personal lines reinsurance cover to its overall programme. -
The new cat bond lite transactions include an unusual collateralisation feature for second-event covers.
-
Cat bonds in future are likely to cover new perils, such as aviation hull, terror and cyber, JLT Re’s David Flandro said.
-
Brokers could act as market makers for ILS transactions listed on the exchange.
-
Allstate was targeting $350mn from the US multi-peril bond, however a projected $50mn layer of Class A notes will no longer be issued.
-
The state is “still a cash cow for reinsurers” as over the past decade the Florida reinsurance combined ratio has been running at 79-80 percent, according to the analysts.
-
The February total compares with $361mn of catastrophe losses for the first quarter as a whole last year.
-
The tiny retro vehicle supporting the Florida reinsurer was wiped out, as Oxbridge’s premium income fell significantly in 2018.
-
This was a record high for the carrier, which bought $7.13bn of cover in 2017.
-
The US National Weather Service has said more than 7 million people were under flood warnings on Tuesday.
-
The rate outlook from consultancy firm Raymond James is below the 20 percent-plus correction that reinsurers are pushing for.
