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ILS

  • PMLs decline as cheap retro floods market
    As we enter the peak North Atlantic windstorm catastrophe season there was a noticeable decline in the probable maximum loss (PML) estimates for major catastrophe events reported by a number of (re)insurers in the second quarter.
    19 August 2013
  • Zenkyoren issues its first indemnity Japanese quake bond
    Japanese mutual insurer Zenkyoren has returned to the cat bond market with a new $150mn earthquake offering, sister publication Trading Risk has revealed.
    19 August 2013
  • VisionRe increases Lloyd’s fundraising target
    Lloyd's members' agent Argenta has raised the fundraising target for its new investment vehicle VisionRe to £50mn as it seeks to capitalise on interest in the world's oldest insurance market, according to an investor memorandum obtained by The Insurance Insider
    13 August 2013
  • TWIA upsizes cat cover by 17% to $1bn
    The Texas Windstorm Insurance Association (TWIA) has expanded its cat reinsurance placement for the 2013 hurricane season by 17 percent to $1bn and lowered its retention from $2.3bn to $1.7bn, the residual insurer confirmed.
    13 August 2013
  • RenaissanceRe says reinsurers were the fiercest Florida competitors
    Rated reinsurers were the strongest competitors for Florida working-layer risk this year despite an increased capital markets presence, RenaissanceRe said on an earnings call.
    12 August 2013
  • Goldman Sachs’ Millette disputes ILS pricing ‘illusion’
    The cat bond market showed pricing leadership in the first half of the year rather than detaching from traditional market rates, Goldman Sachs' ILS team argued.
    12 August 2013
  • Lancashire at the crossroads
    Lancashire's surprise £266mn takeover of Lloyd's-based rival Cathedral, unveiled on 7 August, has stirred speculation that the London-listed (re)insurer may be quietly abandoning the business model that has made it one of the sector's stock market stars since it launched in 2005.
    12 August 2013
  • Hurricane outlook tempered, but still above average
    Forecasters have lowered their outlook for the 2013 Atlantic hurricane season but it is still expected to be above average.
    12 August 2013
  • Aspen, Lancashire and XL continue capital markets collaboration trend
    Last month was another busy period for P&C (re)insurers developing their capital markets capabilities. We track all the joint venture initiatives that have launched in 2012-13
    06 August 2013
  • MTA issues cat bond after Sandy capacity crunch
    The New York Metropolitan Transportation Authority (MTA) said the launch of its debut cat bond helped it overcome a shortage of traditional reinsurance options after last year's Superstorm Sandy.
    06 August 2013
  • Low cat bond pricing continues as Axis closes $200mn Northshore Re
    Two cat bonds from debut sponsors closed at tight spreads in late July, even though they were brought to market well into the start of the hurricane season
    06 August 2013
  • Markel to renew New Point sidecar
    Markel Corp will support a new version of Alterra's New Point Re sidecar in 2014 despite the downward pressure on retro rates
    06 August 2013
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