Weather

CEO Mike Sapnar said losses in the last two years have wiped out premiums.

The topsy-turvy nature of the past few years for the ILS market is apparent when you look at our half-yearly surveys of assets under management.

The carrier issued a profit warning as it revised up projected annual cat losses and forecast lower reserve releases.

Hagibis, Faxai and flooding in the Mississippi River basin were the costliest events.

The Insurance Council of Australia lifted its claims tally by 27 percent from its initial figure, with aggregate deductibles the main reinsurance exposure to the loss.

The (re)insurer faced increased losses from Hurricane Irma alongside Typhoon Hagibis and wildfire claims.

The storms will compound wildfire losses and put reinsurers on Suncorp's aggregate covers on watch.

Quota share and aggregate-property cat contracts are under watch as a result of the recent Australian bushfires but occurrence covers will probably remain mostly unscathed, sources expect.

Cat bond fund returns rebounded in 2019, with widely divergent experience among ILS funds investing in private instruments.

The exposure to this transaction across private ILS strategies varies from 1.7 percent to 1.9 percent of November's portfolio, the manager said.

The company’s Francis Bouchard said climate change was “one of the most dangerous and most complex risks we face”.

The most likely global risks relate to climate change and environmental issues for the first time, according to the WEF’s 2020 Global Risks Report.