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The insurer faced A$580mn of natural disaster claims in H1.
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John Doucette, president and CEO of reinsurance at parent company Everest Re, said the company had shrunk its January catastrophe portfolio. -
The loss tally for catastrophe bonds impacted by the 2017 disaster events has now climbed to $1.1bn, according to January pricing sheets.
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Cat bond prices in the secondary market have begun recovering following a pre-Christmas sell-off, as investors sought to release capital ahead of the renewal, brokers said.
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The Merion Square ILS fund launched by Rewire Securities and Vida Capital will have the flexibility to invest in a wide variety of insurance instruments covering risks ranging from natural catastrophe to mortality to cyber, CEO Stefano Sola said.
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The cat bond market is set to shrink temporarily as 2019 issuance to date has been overshadowed by the $1.85bn of cat bonds maturing in the first quarter of this year.
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Mitsui Sumitomo Insurance (MSI) now owns 80 percent of Leadenhall Capital Partners after taking over the holding from its international subsidiary MS Amlin.
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Arguably the single biggest challenge to face reinsurers attempting to attract third-party ILS capital is nothing to do with engaging in fundraising, estimating monthly valuations, or any of the operational facets of asset management.
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Leveraging data can make risk more transparent for investors, said Ledger’s CEO Samir Shah.
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The move has pared back the carrier’s aggregate losses, benefiting Caelus cat bond investors.
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The carrier said its P&C reinsurance major-loss expenditure for Q4 was EUR886mn, almost double that of the prior-year quarter.
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The manager said it also expected currently attractive cat bond opportunities to dissipate later in 2019.
