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ILWs

  • Seven of the nine cat bonds that came to market during Q1 had exposure to North America, showing that cedants were once more looking to secure deals ahead of the North Atlantic hurricane season on 1 June.
  • Industry loss warranty (ILW) broker Stefano Nicolini has joined the New York office of Beach & Associates after six years with BMS, according to his LinkedIn profile.
  • A $50.2mn cat bond lite issued on Kane's segregated cell platform has been de-listed from the Bermuda Stock Exchange after the notes were redeemed early.
  • Independent London broker Alston Gayler (AG) has added a PCS Turkey licence to facilitate industry loss warranty (ILW) trading of the risk
  • Aon Benfield Global ReSpecialty CEO Bob Bisset says retro products can flex further still...
  • Aon Benfield estimated that the indemnity retro market would expand by 6 percent in 2016 based on growth in the January renewals.
  • The London-listed Blue Capital Global Reinsurance Fund posted a total return of 9.6 percent including dividends for 2015, up from 8.8 percent in 2014.
  • The Tianjin port explosion may cause insured losses of $5bn-6bn of which half is likely to fall under marine claims, according to the International Union of Marine Insurance (IUMI)
  • The industry loss warranty (ILW) market witnessed rate reductions of about 5 percent in the January renewals, Guy Carpenter said in a client report obtained by Trading Risk.
  • Mortgage credit expansion; Perils releases Desmond estimates; Australian cats cost A$458mn; Twelve backs Eurovita debt raise; Fermat diversifies; Cat losses in 2015; £20bn longevity forecast
  • Gross catastrophe bond yields ended 2015 up almost 10 percent from December 2014, according to RMS data.
  • Lane Financial analysts Morton Lane and Roger Beckwith said that ILS prices are likely continue to "wander sideways" in the absence of any shock events, as the firm's rate-on-line index finished 2015 up just under one percent from a year earlier.
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