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Q3 cat hit averages 1.7% for (re)insurers

Hurricane Dorian and Typhoon Faxai losses have hit (re)insurers following a relatively benign first half of the year for catastrophe activity.

State National founder and CEO Ledbetter set to retire

Terry Ledbetter will be replaced by president Matthew Freeman from 1 January 2020.

Pioneer puts Syndicate 1980 into run-off citing capital inefficiencies

Pioneer Underwriters said the cost of the syndicate structure was no longer economically efficient when compared with its other capital arrangements.

Mt Logan Q3 cat losses more than double year on year

The Everest Re sidecar assumed $79.5mn of losses after Dorian and Faxai hits, up from $29mn in the same quarter last year.

• UK floods could cost insurers £120mn: PwC
• SoCalEd pays $360mn wildfire settlement to public entities
• Credit Suisse ILS hires Lata as chief life underwriter
• Bushfire claims reach $34.2mn: ICA
• China to lead 3% global premium growth: Swiss Re
• Royal Mail keeps Elementum allocation at £67mn

Opinion

Has M&A broken the mould for ILS managers?

Two different types of man-made catastrophes are emerging as the results season’s theme of debate.

Large loss estimate ranges are arguably just masking risk modelling limitations – not improving them

What are the likely ILS vote-winners in the Lloyd's Blueprint?

Analysis

Dicing up PG&E’s $11bn wildfire payout

It will be many months before the $11bn payout agreed between Pacific Gas and Electric Company (PG&E) filters through to the (re)insurance and ILS markets, with this lump sum likely to benefit some parties more than others.

Tokio Marine’s Pure deal highlights HNW growth prospects

Tokio Marine’s $3.1bn bid for high-net-worth (HNW) insurance specialist Pure represents a bid on the growth prospects of the segment, sister title Inside P&C argued in a recent analytical note.

Q3 2019 ILS returns show improvement

A group of ILS funds tracked by Trading Risk produced more robust returns in Q3 compared to last year’s third quarter, despite Typhoon Faxai and Hurricane Dorian.

Lloyd’s ILS plans welcomed but questions over tax hurdle

A drive to offer standardised Lloyd's ILS products must be balanced against the need to be flexible, market participants have said.

Supplements

Monte Carlo Roundtable 2019

Reconstruction in the ILS market continues, with ongoing concerns about investor sentiment, capacity growth and the impact of retro rates

Investor Guide to ILS: H2 2019

Reinsurance conditions began moving in investors’ favour in mid-year 2019, marking a delayed reaction to 2017-2018 losses.