Archive for November, 2018

The main mutual insurance-linked securities (ILS) and listed reinsurance linked investment fund strategies fell again on Friday as the threat of losses from ongoing California wildfires resulted in a decline in their share prices, while a stock-exchange listed strategy also declined through last week.

The Amundi Pioneer managed interval-style mutual insurance-linked securities (ILS) fund, the Pioneer ILS Interval Fund, is expected to face a “modest” impact from the ongoing California wildfire outbreak.

Catastrophe bond fund managers have been marking down their holdings in Pacific Gas & Electric Co’s (PG&E) $200m Cal Phoenix Re Ltd. (Series 2018-1) cat bond on the expectation that it could face a total loss of the utility is found liable for the Camp wildfire in California.

The major Japanese insurance firms are set to payout record levels of claims following wind and water related natural disasters in the country in 2018, with as much as $8.8 billion of losses expected just for the top three firms.

Specialty insurance and reinsurance player Brit Ltd. has become the first to successfully register and get licensed a multi-use collateralised reinsurance PCC vehicle in the UK, with the launch of Sussex Capital UK PCC Limited.

Catastrophe risk modelling specialist RMS has estimated that industry insured losses from the Camp and Woolsey wildfires in California could reach as much as $13 billion, which is aligned with the opinions of insurance, reinsurance and ILS market sources.

The amount of property, residential and commercial structures lost in the Camp and Woolsey wildfires in California has risen significantly again since last week, with the number of structures destroyed now almost 15,500 and the loss for insurance, reinsurance and ILS market interests seen even higher.

Here are the ten most popular news articles, week ending 18th November 2018, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

The Florida Office of Insurance Regulation (FLOIR) has recorded another near 6% rise in the number of insured claims from last year’s hurricane Irma to roughly $11.1 billion and this loss creep is set to continue as 76,298 claims from the storm are still open in the state.

Pacific Gas & Electric Co’s (PG&E) $200m Cal Phoenix Re Ltd. (Series 2018-1) catastrophe bond has had its secondary market price marked down heavily by brokers who suspect that the cat bond will face a significant, if not total, loss due to the ongoing wildfire outbreak.