Covid-19 may have been the biggest talking point in the (re)insurance markets this year but arguably, the pandemic is being overtaken by several other factors – ILS market dynamics amongst them.
This year’s award winners have taken their moment in the spotlight at a turbulent time in the ILS market’s history, making their recognition all the more valuable.
The past two years challenged the catastrophe (re)insurance market more than any period since the Hurricane Katrina era in 2004-2005 – but it is far from clear what the outcome will be this time around.
Retro and reinsurance partners will pick up $142mn of Axis Capital's $779mn of gross HIMM losses, with the bulk of recoveries due to retrocession on the firm's reinsurance book, the firm reported in its third quarter results.
Mt Logan Re investors took $133.8mn of losses in Q2 as its parent Everest Re suffered from adverse development on 2017 claims, undoing the benefit of reserve releases booked in the fourth quarter last year.
An "awful lot" of trapped ILS capital may turn out to be lost capital as 2017 claims evolve, chief underwriting officer at QBE Re Jonathan Parry said during a panel debate at Trading Risk's London ILS event last week.
The Prudential Regulation Authority has been praised for its efficiency in approving the first transaction to be launched under the UK’s new ILS regime.
MS Amlin wrote £62.9mn of gross premium for Leadenhall Capital Partners through its Lloyd's syndicate 2001 in 2017, which was up by 44 percent year-on-year.