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

4 February 2012

Platinum buys ILW protection

2 September 2010

Fellow Bermudian Platinum Underwriters confirmed it bought a $65mn ILW in an earnings conference call, saying both hurricane forecasts and capital management reasons drove the purchase.

CEO Michael Price said the firm had halved the Florida-specific business it wrote this year - but the region's hurricane risk still figured prominently in its loss scenarios.

Price said the contract covered events ranging from $20-40bn to manage losses if a 1 in 100 or 1 in 250 year disaster struck. It came...

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