Claims and losses

For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.

Rate increases achieved at 1 January will help carriers keep pace with inflation, the agency said.

Atmospheric rivers are expected to bring further severe weather into next week.

Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.

The low-risk group of funds outperformed the high-risk funds in the month and year.

The state is contending with flash flooding, mudslides, rockslides, power outages and high winds.

Natural disasters in North America destroyed assets worth around $150bn, of which roughly $90bn were insured.

Brian Espie has been appointed as CUO having previously held the position of group head of North American reinsurance at Fidelis.

Potential rotation of the investor base, along with continuing evolution in ESG and non-cat products, are set to be themes for the upcoming year.

The deal includes $65mn of Class B discounted notes which offer an effective coupon of 25%.

The increase mainly stemmed from an influx of personal property claims.

The Class A notes on the latest deal are offering 250 bps more compared with a similar placement last March.