Swiss Re Insurance-Linked Fund Management

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Industry-loss warranty (ILW) pricing

We’ve developed an industry-loss warranty (ILW) pricing data set from information we’ve gathered over the years as well as input from our market sources.

For the moment, we have pricing on three specific triggers for industry-loss warranties (ILW’s), $50bn industry loss attachments for US earthquake, US wind and US All natural perils.

Hopefully this data set of ILW rates-on-line over time will provide another useful way to track pricing trends in the catastrophe reinsurance and retrocession markets.

Please contact us to provide any feedback, or if you have additional ILW data you can share with us so we can make it more broadly available to the market.


Industry loss warranty (ILW) price trends

ILW pricing data information

We’ve collected this ILW pricing data from a range of sources, including Artemis’ own data tracked over numerous years, as well as data kindly shared with us by market sources.

Each data point reflects the average ILW pricing seen or projected to be seen, across sources gathered from, around the beginning of each quarter. An asterisk * indicates projections for that quarter, based on market inputs gathered.

We’ve asked a number of market sources to validate our data and believe it to be a reasonable reflection of average rate-on-line or pricing that these property catastrophe ILW’s could have been traded at throughout the period, or the approximate prices being quoted.

Note: We’re aware that all-natural-peril (ANP) coverage is rarely available now and most markets quoting US multi-peril ILW capacity are only including wind and earthquake, but the rates are still relatively in-line so we continue to include this as another useful benchmark for you.

What is an industry loss warranty (ILW)?

An industry loss warranty, known as industry loss warranties or ILW’s, is a form of reinsurance or derivative contract through which a company or organisation (often an insurer) can gain coverage based on the total insured loss experienced by the industry rather than their own losses from a specified event. The contracts have a specified limit which denotes the amount of compensation the buyer receives if the industry loss warranty is triggered. Read more.

You can read all of our industry-loss warranty (ILW) related news here.

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