Trading Risk January 2019
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The JLT index is below levels recorded in 2016 and around 30 percent below 2013 benchmarks.
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People moves in the industry in the past month.
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A key question is whether retro dislocation will spill over into reinsurance renewals.
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In the US, renewal results varied widely and wildfire losses were a subject of focus.
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Newer vehicles found it harder to get going as sidecar sponsors struggled to hit their fundraising targets in the January renewals.
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The final couple of months of 2018 brought further pain for sidecar investors.
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RenaissanceRe’s funds platform has taken significant losses.
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It could take years to determine whether or not PG&E is responsible for the 2018 wildfires.
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AIR Worldwide put the direct losses from the incident at between $200mn and $600mn.
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There was also evidence of one investment manager renewing its interest in the asset class.
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Due partly to loss creep from Irma, ILS losses have been eked out throughout the year.
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A decrease in capacity following last year’s losses is thought to be one of the largest drivers of the rate increase.