Fidelis
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ILS managers have pioneered externally managed rated carriers, but have done so with cost-consciousness in mind. -
The market is characterised by rising prices and shrinking deal sizes as investors pick and choose over which bonds to back.
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Fidelis chairman Richard Brindle said a shift towards named cat perils and away from complex structures is underway, but that carriers need more unity between inwards and outwards teams to navigate the harder market.
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The correlation between a good ESG score and low loss ratio is strongest in property insurance, the report shows.
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The cover is triggered by PCS territory-weighted industry loss and attaches at $12.5bn.
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The increased yield reflects the harder post-Ian market.
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The carrier pushed London brokers for a reduction in the traditional 15% commission.
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The cover will be triggered by territory-weighted annual aggregate industry loss.
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How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.
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Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.
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This publication broke the news in March that the Richard Brindle-led underwriting business was working on the radical company separation.
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She was previously an investor relations senior manager at Swiss Re.
