With another week of insights gathered on the potential for any losses from hurricane Milton, thanks to industry loss estimates and catastrophe bond pricing, the net asset values (NAVs) of US mutual investment funds that allocate to catastrophe bonds and other insurance-linked securities (ILS) were mostly marked up again at the end of last week.
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The broadly diversified portfolio of insurance-linked securities (ILS) and reinsurance investments managed by pension investment firm PGGM on behalf of end-client the Dutch pension PFZW, delivered a 5.8% return for the third-quarter, lifting year-to-date returns to 11.7%.
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It’s now clear that catastrophe bond funds fell far less than the market benchmark on the first pricing after hurricane Milton, with the Plenum CAT Bond UCITS Fund Indices only falling 0.42% at Friday October 11th and the majority of cat bond funds absorbing the initial mark-to-market impacts of the storm within two weeks of […]
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Global reinsurance giant Munich Re is anticipating continued rising demand for protection across Europe, but at the same time the company cautions on the need to remain disciplined and hold onto gains made in pricing and terms at the renewals.
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At Friday’s pricing, the catastrophe bond market index calculated by Swiss Re Capital Markets bounced back by more than one percent, leaving the benchmark for the entire cat bond market now only -0.30% down since hurricane Milton, while the US wind specific version of the cat bond index also recovered and is now -1.31% since […]
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In comments made around Guy Carpenter’s Baden-Baden Reinsurance Symposium event, Maria Rapin, the CEO of Nephila Climate, the climate and weather focused arm of insurance-linked securities (ILS) specialist Nephila Capital, highlighted that alternative capital is a long-term partner for reinsurance that has been well-tested through catastrophes and crises.
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Commenting on its expectations for the end of year reinsurance renewals in Germany, Hannover Re’s German subsidiary E+S Rückversicherung AG has said that it expects demand for property catastrophe reinsurance to rise further, while risk adjusted price and term improvements are also expected.
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Here are the ten most popular news articles, week ending October 20th 2024, 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.
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Highlighting the still wide-range of uncertainty in insurance market loss estimates after hurricane Milton, catastrophe bond investment manager Icosa Investments AG has noted that the cat bond market seems not to have discounted prices as widely to account for uncertainty this time.
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Analysts in the J.P. Morgan European equity research team have said that if hurricane Milton’s industry impact comes in between $20 billion and $40 billion, they “don’t see Milton driving a reinsurance market turn” in 2025.
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So far, based on analysis of the catastrophe bonds in the UCITS structure that have priced their net asset value (NAV) since hurricane Milton struck Florida and where we have been able to access that data, the average mark-down across the funds is just -0.77%.
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The price guidance range has been lowered for a second time for the latest catastrophe bond to be sponsored by Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor, while the target size is still unchanged at $95 million for the Logistics Re Ltd. (Series 2024-1) US earthquake cat bond issuance.
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Hurricane Milton is estimated to have caused total insured losses of between $17 billion and $28 billion, CoreLogic has said, with this figure including losses to the NFIP, bringing the firm’s estimate in towards the lower-end of those seen so far.
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Artemis returns to New York on February 7th 2025 for the ninth conference in the series and our eighth in-person event held in the city, with around 400 attendees expected to join us at ILS NYC 2025, we are now making Super Early Bird rate tickets broadly available. Register soon to attend at the best […]
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