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Post-HIM boom in ILS assets slows

The top 10 ILS managers expanded their asset bases by just under 7 percent to $67bn in the first half of 2018.

Markel Catco ordinary shares lag

The retro manager said the ordinary shares in its London-listed Reinsurance Opportunities Fund had gained 0.5 percent in June, trailing the 1.1 percent return from its new share class launched for 2018.

ILS markets capture a third of Citizens cover

Florida Citizens turned to the ILS market for a third of its traditional reinsurance cover for the 2018-19 programme, down from 38 percent in 2017.

Rising US hurricane losses hit ILWs

The latest increase in PCS figures for hurricanes Harvey and Irma means that US wind aggregate industry loss warranties (ILWs) that trigger at $30bn have been hit, Trading Risk sources said.

• Lloyd’s syndicate crackdown spells ILS opportunity
• Solidum approved as TISE member
• Liberty Mutual shoots up sidecar sponsor rankings
• Aon pegs Asia storm losses at $432mn
• $50mn Seaside Re 2017-3 cat bond extended
• JLT: Models fail to capture atypical hurricanes

Opinion

Last year the hot topic was how the ILS market would respond to the challenge of reloading. But this year, the tables have turned.

As insurers dodge curveballs from Irma claims, reinsurers are next up to face scrutiny

As convergence market lines blur, Nephila has a range of options as it seeks new investors

By setting up its own rated vehicles, Credit Suisse has highlighted how converged the reinsurance market has become

Analysis

Q2 ILS returns up year on year

The average second quarter returns for a group of ILS funds tracked by Trading Risk has increased to 1.36 percent, compared with 0.79 percent for the same quarter last year.

Fast-paced Q2 fails to outrun 2017 record

Cat bond spreads proved to be largely unaffected by last year’s catastrophe activity as sponsors topped up ILS cover in a busy second quarter that nonetheless failed to outstrip 2017’s record volumes.

Winners and losers as Florida insurers’ Irma losses creep

State-backed insurer Florida Citizens has borne the brunt of Irma losses, as other leading carriers in the state managed to keep their share of the event’s claims below their market share, Trading Risk analysis shows.

ILS markets broaden Florida participation: Willis Re

ILS managers were offering larger line sizes and seeking to compete more often on reinstateable layers in the Florida June renewal, Willis Re observed in its mid-year 1st View report.

Supplements

Trading Risk Awards 2018

Ten years ago, amid the turmoil of the global financial market crisis, the first Trading Risk awards ceremony was held.

Trading Risk Investor Guide to ILS

It was a rough 2017 for investors in ILS, as hurricanes Harvey, Irma and Maria swept through the Atlantic. But 2018 has offered some uplift to yields from the sector.