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Industry loss aggregator PCS has released its first loss tally for hurricane Sandy, putting total insured losses at $11bn, according to sources.
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Stone Ridge Asset Management is marketing two new ILS funds under the leadership of Ross Stevens, a former Magnetar executive, according to SEC filings.
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The market for north-east industry loss warranties (ILWs) has dislocated as trading halts in the aftermath of Hurricane Sandy as participants attempt to gain clarity on the loss, according to Aon Benfield Global ReSpecialty deputy CEO Dan Burrows.
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Swiss Re is not keen on opening up its internal insurance-linked securities (ILS) fund to third party investors, according to reinsurance CEO for the EMEA region Jean-Jacques Henchoz.
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A handful of livecat industry loss warranty (ILW) trades were placed at the start of the week as Sandy struck the US, Trading Risk understands
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Hurricane Sandy has stirred livecat trading interest as the storm edges its way ever closer to New York and the north-eastern states, although it is not known whether any actual trading has occurred.
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Modelling agency Eqecat has estimated that Hurricane Sandy could cause $5bn-$10bn in insured losses and $10bn-$20bn in total economic damages, as storm surge levels in New York begin rising ahead of the hurricane's expected landfall in New Jersey.
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Broker dealer Lane Financial estimated that average premiums in the ILS and industry loss warranty (ILW) market dropped 17 percent during the third quarter.
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The ILS sector's two leading fund managers have mushroomed in size, as investors' enthusiasm for direct catastrophe reinsurance risk has seen billions of dollars in new capital pour into the sector in 2012.
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Broker dealer Lane Financial estimated that average premiums in the ILS and industry loss warranty (ILW) market dropped 17 percent during the third quarter
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Munich Re looks poised to become the latest reinsurer to launch a third-party ILS fund after confirming that it is talking to potential investors
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The reinsurance market has come of age and has fully integrated traditional and capital markets capacity, Guy Carpenter vice chairman David Priebe said as the 2012 Monte Carlo Rendez-Vous prepares to open tomorrow morning.
