ILS plays key role in Florida cat fund (FHCF) $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) successfully renewed its $1 billion reinsurance program at June 1st 2018, with significant insurance-linked securities (ILS) fund and collateralized reinsurance vehicle participation.For the 2018 reinsurance renewal, the FHCF has succeeded in lowering the attachment point of its private risk transfer coverage, as it had read the full article →

FHCF’s hurricane Irma loss estimated at up to $6 billion

The Florida Hurricane Catastrophe Fund (FHCF) is facing losses of up to $6 billion due to the impacts of hurricane Irma, according to actuarial estimates, with the loss being contained within the FHCF's funding and not significant enough to trigger its reinsurance program.The FHCF's consulting actuary Paragon Strategic Solutions has read the full article →

Florida cat fund (FHCF) renews $1bn reinsurance at reduced cost

The Florida Hurricane Catastrophe Fund (FHCF) reinsurance renewal has now been completed, with the State Board of Administration (SBA) securing another $1 billion layer of cover, again featuring fully collateralized participation from some ILS fund managers, and with a -4% price reduction year-on-year.The FHCF first visited the reinsurance market in read the full article →

Florida cat fund (FHCF) exploring $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) is again looking at utilising risk transfer from the reinsurance markets as a source of additional protection for the 2017 hurricane season, with a $1 billion renewal being explored by the Florida State Board of Administration.The Florida Hurricane Catastrophe Fund (FHCF) is in the read the full article →

FHCF in $1bn renewal, at lower attachment & ILS takes a little less

The Florida Hurricane Catastrophe Fund (FHCF) has completed a $1 billion renewal of its private reinsurance cover, the second year the fund has looked to private sources of traditional and third-party risk capital to offload the risk of severe a hurricane season.Again, the insurance-linked securities, reinsurance linked investments and collateralised read the full article →

Aeolus, Elementum, Nephila (and ILS) among largest Florida writers

The alternative reinsurance capital and insurance-linked securities (ILS) market plays a vital role in providing Floridian primary insurance companies with much-needed peak property catastrophe coverage and ILS investment managers are at the heart of providing stability to the Florida insurance market.Leading the charge in 2015, according to Fitch Ratings, are read the full article →