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The ILS segment is not ready to gloss over loss-heavy years in renewal discussions. -
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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The carrier increased premium by 7% at the January renewals.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
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The firm ceded $417mn of premiums to the sidecar in 2024.
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Several Florida start-ups are poised to begin writing business this year.
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Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
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The LA fires ‘demonstrate the magnitude of tail events not well captured in modelling’.
