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Swiss Re has estimated third quarter pre-tax losses from hurricanes Harvey, Irma and Maria (HIM) and the two Mexican earthquakes at $3.6bn, net of retrocession
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Swiss Re's cat bonds, which total $335mn, are likely to contribute to the group's third quarter losses, according to Jeffries Equity Analysts.
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XL Catlin has launched a $150mn Galileo Re cat bond which gives an early indication of rate increases, Trading Risk understands.
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USAA is seeking to raise $225mn from a new cat bond, according to Trading Risk sources
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Retrocession rates are expected to rise by 25 percent or more at the 1 January 2018 renewals after the extensive losses of this year, sources said.
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Loma Re cat bond sponsor Argo said that more than a third of its estimated $85mn to $110mn pre-tax net catastrophe losses in Q3 would stem from Ariel Re.
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Reinsurance underwriters might have found themselves in the industry equivalent of the Christopher Nolan film Inception this year - unravelling a complicated loop of narrative threads spilling out from the nightmare losses of 2017.
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Everest Re said its capital market facilities - the Mt Logan sidecar and Kilimanjaro Re cat bonds - had helped it bear Q3 catastrophe losses, which came to $1.2bn net of reinsurance recoveries and reinstatement payments, before tax.
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Cincinnati Financial has announced that it expects to take pre-tax catastrophe losses of $102mn to $114mn in the third quarter, following the recent flurry of catastrophe activity.
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XL Group said it would take $1.48bn of pre-tax catastrophe losses in the third quarter, net of "meaningful" reinsurance recoveries.
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Fitch Ratings has withdrawn ratings for three tranches of the International Bank for Reconstruction and Development (IBRD) Mexican cat bond, after incorrectly assessing the securities
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The Mexican Ministry of Finance and Public Credit has said it will receive a full payout for its $150mn earthquake catastrophe bond, following confirmation that the parametric triggers have been met
