Trading Risk December 2017

Some of the ILS platforms run by the major catastrophe reinsurers appear to have taken heavier losses from the third quarter disasters relative to the burden on their parent companies, but there are a variety of reasons why this has proved the case.

Brazilian investment bank BTG Pactual has made a return to the reinsurance market by providing capacity to Bermudian ILS start-up Lutece Re, Trading Risk can reveal

Investment bank Jefferies said there remains a $20bn gap between (re)insurer loss estimates from Q3 catastrophe events and anticipated industry losses, as it predicted loss creep would fuel rate increases in 2018.

Validus Re is seeking to raise $325mn from its first cat bond, an annual aggregate deal called Tailwind Re, Trading Risk understands.

AIR Worldwide has slashed its range of loss estimates for Hurricane Maria to $27bn-$48bn, down from an initial $40bn-$85bn range.