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The loss tally is considerably lower than estimates issued by model vendors. -
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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The event has spared (re)insurers the more extreme scenarios that were under discussion earlier this week.
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Collateralised reinsurance and retro are in the firing line.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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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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The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.
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Insurance Insider ILS reported in June that the company had bought substantial ILW coverage.
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Cat bonds, private ILS and retro are "strongly overweight".
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The fund follows an earlier climate change-focused ILS initiative from the firm.
