ILW market stalls at mid-year renewals
Demand for industry loss warranties (ILW) has fallen because
cedants were able to source ample indemnity capacity at the
mid-year renewals.
ILWs are insurance derivative products that provide cover triggered
on industry loss estimates from natural catastrophes.
Prices for peak US wind covers dropped about 10 percent in June,
with $20bn US wind covers priced at rates-on-line (RoL) of around
26 percent, and some Florida covers falling by nearly 20 percent.
Since then, rates have dropped further, with some brokers...
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