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Brit gains first UK MISPV licence with Sussex PCC

Sussex Capital UK PCC will be able to write collateralised reinsurance deals for numerous cedants.

Reinsurers fear $10bn+ wildfire loss

Insured loss estimates for the storm have now pushed into the $10bn-$15bn range, from $5bn-$10bn estimates last week.

PCS puts Hurricane Michael losses at $7.1bn

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

USAA’s high-risk ResRe cat bond reaches $200mn

The bond will provide the insurer with US multi-peril protection on an indemnity per occurrence basis.

• Irma claims rise above $11bn: Floir
• Golden State Re II cat bond targets $225mn
• Schindel new North America head at Hiscox Re and ILS
• PG&E fire liability well above reinsurance triggers: analysts
• California fire damage rises
• Markel completes Nephila purchase

Opinion

Some pockets of the ILS market aren't that deep

Narrative matters more than numbers when it comes to the great ILS reload

The RenRe-TMR deal shows why ILS managers are acquiring rated paper

Is it ever possible in reinsurance to get loss reserves 'just right'?

Analysis

Q3 results show manageable cat impact

Third-quarter catastrophe losses resulted in a 1.8 percent to 5.2 percent hit to the shareholder equity of global reinsurers, with major catastrophe writers all impacted.

Disparity around Hurricane Michael losses as early reports emerge

Reinsurance market sources expected Hurricane Michael to cause insured industry losses of $10bn, but the limited number of public loss estimates released to date suggest Florida insurers are hoping it will remain below this level.

Tokio Millennium Re sale leaves opportunity in fronting market

Tokio Millennium Re’s agreed sale to RenaissanceRe will open up an opportunity for competitors to enter the fronting market.

Nephila’s valuation sets aspirational benchmark for ILS managers

Two M&A deals in the ILS sector in the past month provide a contrasting view on what kind of acquirers may step forward in the future.

Supplements

Monte Carlo Roundtable 2018

What’s in a promise to pay? That was one of the questions that was circulating at this year’s Monte Carlo Rendez-Vous.

Investor Guide to ILS: H2 2018

The ILS market has quickly stabilised after last year’s catastrophe losses – but the fallout from Hurricane Irma has continued to push claims higher.