Claims and losses

Wildfires in British Columbia were the largest of 11 catastrophe losses for the insurer.

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.

Loss data going back to 2000 reveals that severe convective storm plays an “ever more important role” in cat losses.

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.

Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.

Experts agreed that investment in understanding wildfire risk had come a long way in recent years.

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.

The Elementum executive told Trading Risk New York that “appropriate returns” over time were the key to a sustainable ILS market.

Gallagher Re’s chief science officer warned that US SCS activity will keep rising.

Lara's plan, backed Thursday by an executive order from California Governor Gavin Newsom, repackages elements of a proposed bill that collapsed earlier this month.

Cat bond investors are sufficiently capitalised to fulfil demand from an anticipated strong pipeline of new issuance in Q4. 

Inver Re used data from the National Oceanic and Atmospheric Administration (NOAA) to model the impacts of global warming for a Category 1 hurricane making landfall in Florida.