ILS funds news, insurance linked securities or ILS fund news

Bermuda headquartered international specialty insurance and reinsurance firm Argo Group is expecting its third-quarter results to be dented by catastrophe losses and adverse development from prior years.

Markel Corporation has reported rising revenues earned through the operations of its insurance-linked securities (ILS) and reinsurance investment manager Nephila Capital, with year-to-date the total reaching an impressive almost $125 million.

Property Claim Services (PCS) has launched its second new service offering in as many days, announcing a service that will track global large onshore property losses of $500 million or greater, marking the loss data aggregator’s latest expansion into the specialty lines arena.

California wildfires have continued to burn their way through more acres and properties, with the largest Kincade fire still the most dangerous and an “extreme fire weather threat” forecast for the coming days.

Bermudian specialist insurance and reinsurance firm AXIS Capital ceded significantly more of its risk through to third-party capital partners during the third-quarter of the year, but the fees earned did not rise commensurately.

Bermudian reinsurance firm RenaissanceRe reported an underwriting loss for the third-quarter of 2019 on the back of the impacts of hurricane Dorian and typhoon Jebi, but at the same time has returned significantly more capital to its third-party investors.

Bermuda headquartered insurance and reinsurance firm Everest Re saw its third-quarter 2019 results dented by the impacts of catastrophe losses, but it continued to grow its capital base and its fully collateralized reinsurance sidecar and segregated accounts vehicle Mt. Logan Re stabilised further in the quarter.

Property Claim Services (PCS) is greatly expanding its range of industry loss data aggregation and index reporting services to include Australia, New Zealand and also the Southeast Asia region, as it looks to capitalise on growing demand for its products.

A seventh transaction of the year has now been issued using the Horseshoe Group managed private catastrophe bond and insurance-linked securities (ILS) issuance vehicle Eclipse Re Ltd., which lifts the total risk capital issued using the transformer to almost $300 million in 2019 so far.

Our latest wildfire update can be found here. California continues to be beset by dangerous fire weather conditions, with some of the strongest winds yet possible from Tuesday into Thursday, while the current wildfires are estimated to have put some $25 billion of property at severe risk of damage already.