Trading Risk May 2018

Cat bond maturities influenced the dip in market share of Florida reinsurance cessions taken by the ILS market.

(Re)insurers with established relationships within the ILS space are at an advantage in the current post-loss environment, according to Joe Ferraro, partner at Willkie Farr & Gallagher.

The retro manager's Irma loss deterioration is on a higher scale than that reported by peers.

Floridian insurer Heritage now expects to claim $151mn from its Citrus Re cat bonds as its Irma losses escalate, sources told Trading Risk.

Swiss pension fund Basellandschaftliche Pensionskasse (BLPK) has reported that its ILS investments made a 5.51 percent loss in 2017, joining a number of other local funds that reported the impact of last year’s catastrophe events.

People moves in the ILS market.

Re(insurers) need to seize their “Uber moment” and regard ILS capital as “aligned capital” rather than “alternative” capital, according to Michael Wade, non-executive chair of TigerRisk Capital Markets UK.

Ever heard the underwriting joke about how to spot the actuary driving a car?

Reinsurance rate increases fell short of expectations after hurricanes Harvey, Irma and Maria (HIM), but this could change if the market endures further major losses in 2018, panellists said at the Trading Risk London ILS conference.

Forecasts range from a slightly more active Atlantic storm season than usual, to below-norm.

Rate increases have mostly been limited to low attaching Floridian wind cover.

The insured loss would account for less than 20 percent of the overall private property damage in the region, which could amount to $170bn.