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The storm made landfall on Tuesday night in the Mexican state of Jalisco. -
Additional strengthening is possible before Lidia makes landfall on Mexico’s West-Central Coast, according to the most recent update from the National Hurricane Center.
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The fund is on course for its strongest year of returns since inception in 2014.
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Experts at the Trading Risk New York conference emphasised in-built cyber risk protections from defences to exclusions, as ILS managers grapple with understanding the peril.
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Wildfires in British Columbia were the largest of 11 catastrophe losses for the insurer.
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Losses from the Maui wildfire include a modest amount of reinsurance recoveries from the Per Risk reinsurance program, while losses from Hurricane Idalia were fully retained.
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Loss data going back to 2000 reveals that severe convective storm plays an “ever more important role” in cat losses.
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The Dutch pension fund giant amended several mandates in 2022 and has posted a 6.3% return from ILS in the first half of 2023.
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Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.
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Experts agreed that investment in understanding wildfire risk had come a long way in recent years.
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A challenge facing the industry in the years to come is the question of how can it move through a rotation of its investor base to capture the growth opportunities that have arisen.
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The Elementum executive told Trading Risk New York that “appropriate returns” over time were the key to a sustainable ILS market.
