Trading Risk November 2019

Any lack of retro support could push reinsurers to reduce their gross footprint in the Sunshine State, suggested Validus Re's Chris Silvester.

The sovereign wealth fund for the United Arab Emirates has allocated more than $0.5bn to the sector, sources said.

Insurers are heading into an “age of specialisation” that could see them engage more with the ILS market to carry out “risk pooling” of their portfolios, alongside other activities such as claims administration that are increasingly parcelled out, suggested GC Securities head of ILS Shiv Kumar at a panel debate at the ILS Bermuda Convergence event last month.

It will be many months before the $11bn payout agreed between Pacific Gas and Electric Company (PG&E) filters through to the (re)insurance and ILS markets, with this lump sum likely to benefit some parties more than others.

ILS Capital Management is looking at converting its collateralised reinsurance company to a rated balance sheet, the firm’s managing partner Tom Libassi said at the Trading Risk New York conference.

Tokio Marine’s $3.1bn bid for high-net-worth (HNW) insurance specialist Pure represents a bid on the growth prospects of the segment, sister title Inside P&C argued in a recent analytical note.

A group of ILS funds tracked by Trading Risk produced more robust returns in Q3 compared to last year’s third quarter, despite Typhoon Faxai and Hurricane Dorian.

A drive to offer standardised Lloyd's ILS products must be balanced against the need to be flexible, market participants have said.

The Bermudian ILS manager has been active in the primary segment since 2017.

Despite continuing Irma losses, retro availability could be a stronger influence on 2020 renewals, suggested one Florida insurer.

People moves in the ILS market November 2019.

LGT ILS Partners is now transacting 70 percent of its reinsurance book on a rated basis through its A rated Lumen Re platform, partner and portfolio manager Michael Stahel has confirmed.