Analysis

Fourteen cat bonds with a combined value of $1.18bn are expected to be a full loss following 2017 and 2018 losses, Trading Risk understands.

The handful of reinsurers to disclose third-party fee income lifted this source of earnings by almost a third year on year in the second quarter.

M&A activity has made analysing structural conflicts in ILS platforms harder but winners may be those that offer a range of means of access to risk, consultants say.

Most reinsurers lifted their exposure to major cat losses heading into 2019, with net written premiums rising further early this year, ratings agencies noted.

The momentum for rate increases has built up in a delayed reaction to losses.

Typhoon Jebi creep continued to have an impact on performance, with multi-instrument ILS funds reporting an average loss of -0.78 percent for the quarter.

Activity in the first half of the year was the lowest since 2011.

Ten months on from Typhoon Jebi, there is still considerable uncertainty around why the storm’s insured losses are expected to be so much higher than the initial modelled figures.