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Wildfire is rarely singled out as an exposure that can shift portfolio outcomes.
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The LA fires ‘demonstrate the magnitude of tail events not well captured in modelling’.
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The carrier’s reinsurance premiums ceded rose by 32% to $3.4bn in 2024.
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The reinsurer has cut the cession rate to 33% from 40% last year.
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A negative January return will be unprecedented for ILS industry.
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Company touts growing investor demand for Asian cat risks.
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The vehicle is smaller by 8% as White Mountains’ participation grew.
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The vehicle is yet to recover to 2021 levels of $235mn.
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Everest is in the process of transforming its ILS offering.
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The firm said it benefited from favourable retro market conditions.