ILWs

RenaissanceRe CEO Kevin O'Donnell has said that the group's gross losses of about $2.2bn from third quarter catastrophes had been slashed by two-thirds due to cessions to third party capital and reinstatement premium income

Aspen ceded more than 40 percent of its gross losses from the third quarter catastrophes to its reinsurance and retro partners, the company's executives said on an earnings call

Markel CatCo Investment Management has raised more than $1.8bn for its privately managed fund after the 2017 hurricane losses.

Markel Catco has today announced its intention to raise further equity capital through the issuance of up to 2 billion shares in its London-listed fund, priced at $1 a share

Scor's retrocession arrangements have reduced Scor's gross losses for HIM and the Mexican earthquakes by 44 percent, equity analyst Jefferies has said based on Scor's recent loss update.

Retro market sources have expressed surprise at Markel Catco's initial loss estimate for 2017 catastrophe events, after it said investment returns for the year could range from a 5 percent gain to a 15 percent loss.

Marco Silva has become senior underwriter and head of UK and London market property at Scor after leaving the carrier's retro team in May

The roughly $5bn-$6bn industry loss warranty (ILW) market is expected to be heavily impacted by the series of 2017 hurricane losses

Annual aggregate cat bonds with industry loss triggers continue to raise concerns for investors as the ILS market recovers from the Harvey-Irma-Maria trio of hurricanes

Hurricane Maria has compounded fears about how much retro capital could be lost or trapped ahead of the 1 January renewal, when much of the roughly $15bn-$25bn market limit renews

Analysts have said the recent third quarter catastrophe activity could lead to double-digit rate increases in the reinsurance sector, with the impact being even more profound in the retro market

Data provider Property Claim Services (PCS) has released its initial view on insured losses within US territories from Hurricane Irma, putting the figure at $18.03bn, sister publication The Insurance Insider revealed