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Tyler left Gallagher Re earlier this year. -
CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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The low PCS number is presenting a challenge for ILW buyers and sellers.
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The loss tally is considerably lower than estimates issued by model vendors.
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Cat bonds, private ILS and retro were all kept at “strongly overweight”.
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Hurricane Milton will show the ILS product behaving as investors expect it to.
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Collateralised reinsurance and retro are in the firing line.
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The firm’s deals so far have covered cat risk, with space ILS in scope for the future.
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The ILW specialist is believed to be exploring new opportunities.
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Increased ILW purchasing reflects cash-rich funds looking to protect return levels.
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Typical ILW attachment points for US peak perils have fallen from $60bn to $40bn-$50bn as the market awaits the final Hurricane Ian number from PCS.
