ILWs

The broker has nearly 20 years of experience in the reinsurance and retro markets.

The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.

The role will focus on international treaty, specialty lines and strategic advisory.

CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.

The loss tally is considerably lower than estimates issued by model vendors.

Reinsurers have held the line more strongly than last year but rising risks may offset gains.

The former Pioneer underwriting chief will lead the programs team within Brit Global Specialty USA from Georgia.

Total equity and debt raised this year if the $300mn target is reached would approach $1.5bn.

Buyers are looking to protect against a mid-sized loss, although trades are not believed to have taken place yet.

The platform said a narrowing spread between buy and sell offers on ILWs suggests more trades will clear.

Rates for $40bn live cat trades have risen as the market has grown more wary of a significant loss, sources said.

Fears of meaningful industry losses mount as storm intensifies and track shifts.

The NFIP will bear the brunt of losses from Hurricane Barry, according to industry analysts.

Nephila has also stopped buying ILW cover as the market of buyers shrinks.

Traditional equity capital fell 5 percent to $488bn while ILS capital rose by 9 percent to reach $97bn.

LGT led the way with its rated start-up Lumen Re.

The sidecar Reinsurance Risk Premium Interval Fund gave investors around a quarter of the sums requested.

Director Graham Coutts foresees a “flight back to quality” from cedants.

Conditions may be improving for some investors after wider ILS appetite has dampened, according to the broker.

Firm retro market in prospect ahead of 1.1 as deployable ILS capital narrows.

The Hong Kong-based sidecar was originally expected to generate $50mn of commitment from international investors.

In the journey to create a new asset class, there are many staging posts that have to be passed.

Just how important is Markel Catco to the catastrophe reinsurance market?

News of a steep decline in Catco Reinsurance Opportunities’ net asset value comes after the fund manager’s parent confirmed regulatory investigations.

Mt Logan will not be the only reinsurer vehicle impacted by Stone Ridge’s retractions, but has emerged as the first such example.

The Californian earthquake bond priced at the upper end of guidance.

Secondary market pricing indications show that investors are expecting another $227mn of losses

The initial estimate suggests an ultimate outcome broadly in line with market expectations. 

Irma and Florence impacted Florida insurers’ Q3 earnings as disparity emerged around Michael losses.

The figure has crept by 6 percent since June.

Reinsurers must be prepared for how much work is required to be an asset manager, said the Hiscox Re & ILS COO.

The over-estimation of losses by modellers led the ILS market to raise capital amid anticipation of higher rates.

The relatively sparsely populated location of Hurricane Michael’s landfall suppresses demand for top-up cover.

The Allianz unit carves out a specialist ILS business to be led by Richard Boyd, who is now CUO of the alternative risk transfer business.

The just-launched platform will connect holders of long-tail insurance risks with investment funds.

Andrew Dolphin will remain in London and report to Hiscox Re & ILS CEO Mike Krefta.

The ILS manager’s estimate included around $2.1bn of wind damage claims.

The Swiss Re CEO refutes the suggestion that financial-sector newcomers can deploy capital more efficiently than traditional reinsurers.

The executive was one of Bermuda ILS manager's first employees.

The executive was previously an actuarial analyst at the broker.

The business has continued to diversify into fee-driven firms through M&A.

Everest Re sidecar Mt Logan Re has reached $1.1bn of assets under management.

Even with the most in-depth data, those attempting to estimate the insured or economic loss from a major hurricane are always bound to be off by some degree, especially when it comes to complex events such as hurricanes hitting densely populated areas.

The former Goldman Sachs executive will report to Guy Carpenter vice chairman David Priebe.

Hiscox Re has launched the first ever cyber industry loss warranty in a bid to address the uncertainty around cyber tail risk.

Markel Catco will raise gross proceeds of $543mn from the sale of new shares in its London-listed Catco Reinsurance Opportunities Fund, taking the fund manager's total new capital raised following third quarter losses to $2.3bn.

Hannover Re executives said that the firm had exhausted a new multi-territory, multi-peril EUR100.0mn ($117.7mn) aggregate cover as its retro programme responded to third quarter losses.

New insurance-linked securities (ILS) fund Lutece Re will be among the start-ups targeting the retrocession segment in 2018 as the market anticipates a significant rating reaction to heavy losses this year, sister publication Trading Risk revealed this month