Trading Risk May 2018

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

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.

As the 2017 catastrophe claims evolve, an “awful lot” of trapped retro capital could become lost capital, chief underwriting officer at QBE Re Jonathan Parry said during a panel debate at the Trading Risk London ILS conference.

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.

(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.

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

People moves in the ILS market.

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.

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.