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The changes in insurer appetite to participate in the Florida Hurricane Catastrophe Fund and new guidelines from ratings agency Demotech could create opportunities for the ILS market. -
Warm winter sun might have helped Miami’s case for bringing ILS folks to the city for one of its annual conferences a couple of weeks ago.
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The storm, which raced across Germany yesterday, had wind speeds of more than 100km/h.
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The reinsurance industry spends a lot of time obsessing about risk modelling, but arguably its efforts to pin down ever more precise estimates of expected losses are let down by a 20th century approach to data handling.
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The insurer kept its participation in the state reinsurance scheme stable at 45 percent.
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The Insurance Council of Australia said more than 22,204 claims had been filed in connection with the floods.
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Heritage, UPC and Florida Peninsula are among the major carriers to request more cover from the state reinsurance scheme.
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The carrier also reported a 12.2 percent increase in gross written premium in structured reinsurance and ILS activities, which reached EUR2.93bn.
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Oxfam aims to scale up the scheme, attracting insurance backing and investors, if the pilot is successful.
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The new executive board member has been with the business since 1996.
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The sidecar’s cat claims came in just under the $323.7mn level recorded in 2017.
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The four-year bond will operate on a per-occurrence and annual-aggregate basis covering named storms, earthquake, severe weather and other perils.
