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Markel Catco has applied further loss reserves of 14 percent of September net asset value (NAV) following the recent hurricanes, which brings the company's total loss reserves for the recent disaster activity to 20 percent, according to a London Stock Exchange announcement.
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The responses to a survey of Bermudian reinsurers and ILS fund managers conducted by Willis Re suggest that hopes that the immediate influx of ILS capital will exceed the amount locked up or destroyed by recent cat events will be disappointed.
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The responses to a survey of Bermudian reinsurers and ILS fund managers conducted by Willis Re suggest that hopes that the immediate influx of ILS capital will exceed the amount locked up or destroyed by recent cat events will be disappointed.
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Markel Catco has today announced its intention to raise further equity capital through the issuance of up to 2 billion shares in its London-listed fund, priced at $1 a share
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The ILS market could be on track to take 20 to 30 percent of the roughly $100bn industry losses anticipated from hurricanes Harvey, Irma and Maria, according to CEO of Horseshoe Group Andre Perez.
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The ILS market could be on track to take 20 to 30 percent of the roughly $100bn industry losses anticipated from hurricanes Harvey, Irma and Maria, according to CEO of Horseshoe Group Andre Perez.
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Retro market sources have expressed surprise at Markel Catco's initial loss estimate for 2017 catastrophe events, after it said investment returns for the year could range from a 5 percent gain to a 15 percent loss.
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Departing Willis Re global CEO John Cavanagh has linked up with ex-Ariel CEO Tom Milligan at start-up Beat Capital, which will provide funding for MGA launches, sister publication The Insurance Insider reported
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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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Markel Catco estimated its 2017 annual return would range from a 5 percent gain to a 15 percent loss following recent catastrophe activity.
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Nephila and its fronting partner State National are among the investors in an insurance development forum designed to streamline the launch process for start-ups in the InsurTech space.
