Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

4 February 2012

Deepwater Horizon spills into ILS

20 May 2010

Losses from the Deepwater Horizon oil rig disaster in the Gulf of Mexico (GoM) threaten to spill over into the convergence market, as various industry loss warranty (ILW) and collateralised reinsurance programmes could be triggered by the estimated $2bn event.

Forecasts of (re)insured losses from the April disaster have ranged from around $1bn to Swiss Re's estimate of $3.5bn, as the industry contemplates the fall-out from the worst single-event energy loss since Piper Alpha in 1988.

And market sources estimate...

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