ILS funds news, insurance linked securities or ILS fund news

As Lloyd’s of London seeks to develop initiatives to attract more third-party, ILS and alternative reinsurance capital to it, rating agency A.M. Best warns of a number of considerations it feels are key for the market to consider.

The catastrophe bond market has “never been busier” and we should expect to see significant issuance over the coming months, while the rest of the insurance-linked securities (ILS) market faces a more challenging period around the renewals, according to industry executives.

For capital markets investors it’s likely that cyber meets some of their investment needs, but a substantial lack of modelling capabilities means there’s no immediate, quick way for insurance-linked securities (ILS) to get into the space, according to cyber risk and (re)insurance experts Hans-Joachim Guenther and Peter Hacker.

The share price for the interval-style mutual insurance-linked securities (ILS) fund operated by Stone Ridge Asset Management has now declined by almost 5% since the impact of typhoon Hagibis in Japan.

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The insurance and reinsurance market is unlikely to experience what would have previously been termed a “hard market” and while continued hardening is likely, performance and capital levels will need to get much worse for a “true” hard market to be experienced, rating agency Fitch believes.

Bermudian specialist insurance and reinsurance firm AXIS Capital Holdings Limited has estimated its losses from recent Japanese typhoon Hagibis at somewhere between $90 million and $110 million, net of accounting for recoveries from reinsurance and retrocession.

The U.S. Federal Emergency Management Agency (FEMA) is being urged to explore the use of parametric triggers as well as insurance-linked securities (ILS) to help drive increased insurance penetration for flood and other natural hazards and enable better financed disaster recovery.

Global reinsurance firm Swiss Re is targeting further growth and diversification within its portfolio of natural catastrophe risks, with investor-backed alternative sources of capital set to play an increasingly important and supportive role.

Indonesia’s government has reportedly secured approximately US $770 million of natural disaster insurance coverage for state buildings and assets, as the country begins to implement its plans to transfer some of the financial risk of catastrophes to private insurance and reinsurance markets.