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Retrocession rates are expected to rise by 25 percent or more at the 1 January 2018 renewals after the extensive losses of this year, sources said.
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Loma Re cat bond sponsor Argo said that more than a third of its estimated $85mn to $110mn pre-tax net catastrophe losses in Q3 would stem from Ariel Re.
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Aspen is expecting to report $360mn in pre-tax catastrophe losses for Q3 following the recent events, which will push the firm to a $340mn underwriting loss for the quarter.
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Everest Re said its capital market facilities - the Mt Logan sidecar and Kilimanjaro Re cat bonds - had helped it bear Q3 catastrophe losses, which came to $1.2bn net of reinsurance recoveries and reinstatement payments, before tax.
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Puerto Rico insured losses are likely to fall to a somewhat concentrated group of reinsurers including Lloyd's syndicates and Munich Re, according to regulatory filings analysed by sister publication The Insurance Insider
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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
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The impact of hurricanes Harvey, Irma and Maria (HIM) means the ILS sector is in line for one of its more complicated 1 January renewals, despite the fact the market's share of losses will be much more contained than it might have been
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RenaissanceRe said it would take a net $625mn of losses from the three recent hurricanes and Mexican earthquakes.
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Stone Ridge Asset Management invested $250mn with Axis Ventures ahead of the mid-year renewals, according to its latest quarterly statements.
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Pioneer's ILS Interval Fund grew its total net assets by 28 percent to reach $388.9mn by the end of July, up from $304.8mn three months earlier, according to its latest Securities and Exchange Commission filing
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US wholesale giant CRC Group has set up a follow-form distribution facility that will see alternative capital take on property insurance risks fronted by Liberty International Underwriters, sister publication The Insurance Insider revealed.
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Lloyd's syndicates and Munich Re are the reinsurers most active in covering Puerto Rican insurers, according to analysis from sister publication The Insurance Insider
