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The government also said it is exploring the possibility of issuing a cat bond in the near future.
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Insurers are passing on costs associated with Florida’s AOB crisis to consumers, the Insurance Information Institute said.
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The move will benefit both new Special Purpose Insurer (SPI) cells, as well as rollover deals.
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The Axis Capital CEO’s employment term has been extended to 31 December 2023.
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Markel will consider the future of its ILS subsidiary Markel Catco in 2019.
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The insurer has called for the increase as a result of costs relating to the ongoing assignment of benefits crisis.
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The use of rated vehicles in the ILS space is likely to become a trend which will shape the market of the future.
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The Lloyd’s business planning process is drawing to a close after a difficult year for London syndicates.
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The Covea CEO’s resignation follows his company’s thwarted takeover of Scor.
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The Insurance Authority said that it welcomed the initiative put forward by Hong Kong’s chief executive officer Carrie Lam.
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ILS markets are expected to participate in the $1bn cyber pool.
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Competitors are pressing for an advantage despite some saying concerns are scare-mongering.