ILS funds news, insurance linked securities or ILS fund news

The market is increasingly confident that industry losses from recent Japanese typhoon Hagibis and also 2018’s typhoon Jebi will ultimately stabilise below the top-end of estimates, good news for those that reserved conservatively and for those for who Jebi loss creep has been a significant issue.

Reinsurance giant Swiss Re has made increasing use of third-party sources of capital this year, as pricing rose and its appetite for natural catastrophe risks increased.

RenaissanceRe, the Bermuda-headquartered global reinsurance firm and one of the biggest users of third-party capital within its business, is expected to capitalise on the retrocession market opportunity being seen this renewal season.

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather.

Price inflation is both present and substantial in reinsurance program placements, as the traditional process of a brokered execution can result in misaligned market incentives, according to programmatic insurance and reinsurance risk transfer marketplace insurtech Tremor Technologies Inc.

January 1st 2020 is expected to be a very late reinsurance renewal, with pricing moving the most at either end of the market in primary and retrocession, but reinsurance in the middle looking less exciting, leading analysts at JMP Securities to suggest property catastrophe renewals could be flat overall.

Investment banking giant Goldman Sachs published an updated environmental policy yesterday, with catastrophe bonds, insurance-linked securities (ILS) and other climate related risk and reinsurance products again taking a central stage within it.

Insurance and reinsurance broking group BMS has announced the hiring of Alex Orloff to its capital markets and investment banking unit BMS Capital Advisory, where he will take on the role of Directory of Capital Market Analytics.

Spanish insurance and reinsurance group Mapfre said it believes typhoons Faxai and Hagibis will drive more than US $20 billion of industry losses to the sector, while it expects to take a hit of around $156 million, including some impacts from recent rioting in Chile.

Kelvin Re Limited, a rated reinsurance company run by the Credit Suisse Insurance Linked Strategies Ltd. team and backed by investments from the Abu Dhabi Investment Council has taken an injection of capital to strengthen it in 2019.