Hurricane
-
Higher rates and reserve releases connected to Hurricane Ian boosted results. -
The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.
-
Hurricane Ian’s legacy will undoubtedly lead to some shake-ups in the ILS sector, with ongoing progression outside cat and ESG strategies likely to be a focus.
-
The reinsurer emphasised the need for improved secondary peril models including predictive capabilities.
-
Frontier Advisors said sentiment continues to be challenged by performance.
-
The new loss pick takes into account litigation and inflation costs, as well as claims activity to date.
-
Most ILS firms are marking the Ian loss as a $50bn+ event, although there are exceptions.
-
The bonds had been heavily marked down initially.
-
Hurricane Ian losses at United Insurance Holdings (UPC) Insurance have nearly reached the top of its personal lines reinsurance tower, company executives said on its earnings call.
-
The sector’s performance was better overall compared with September 2017.
-
FloodSmart Re bonds recovered by a few points in October after initial steep write-downs following Ian.
-
For larger top-end ILW triggers, cedants may have to be pragmatic on rolling over capital.
Most Recent
-
Allianz names Park as global head of retro
31 March 2023 -
Florida Citizens seeks average rate hikes of 14.2%
30 March 2023 -
Perils pegs Cyclone Gabrielle losses at over NZ$1.5bn
30 March 2023