ILW news

News and articles about ILW contracts. ILW’s are typically a fully-collateralised reinsurance transaction, better known as an industry loss warranty (ILW).

ILW’s provide mainly retrocessional reinsurance protection, on an industry loss trigger basis and can be structured as a derivative or swap, or a traditional reinsurance contract.

ILW’s are popular hedging tools for global reinsurance firms, who can hedge their broad industry exposure to major catastrophe losses using a contract that pays out based on the industry-wide loss experience from an event.

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PERILS launches industry loss data service in Japan

Almost three years after setting its sights on expansion into Japan, PERILS AG, the Zurich headquartered provider of catastrophe loss data and indices, has now launched its first industry loss data service there, with a focus on wind and flood loss events. Back in September 2019, PERILS said it was targeting read the full article →

City National Rochdale ILW fund beats cat bond benchmark

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark. The positive net return of 5.95% for the year to January 31st 2022 was a little lower read the full article →

Retrocession market adjusting to renewed focus on risk

The market for retrocessional reinsurance has been one of the most capital constrained and loss impacted over the last few months, which has resulted in an adjustment to priorities for those writing retro covers, while buyers are having to adapt to the demands of capital. The retrocession renewals were some of read the full article →

City National Rochdale ILW fund grows another 7% to $191m

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) has continued to grow in the last quarter of record, adding a further 7% to reach over $191 million in assets. The City National Rochdale Select Strategies (CNRLX) fund is an interval read the full article →

Climate change inflates losses up to 2.50% & premiums don’t cover it: Credit Suisse ILS

After the publication of the latest Intergovernmental Panel on Climate Change (IPCC) report earlier this year in August, the Credit Suisse Insurance Linked Strategies team has analysed its findings on climate trends related to severe weather catastrophes and tried to quantify their impacts on the global insurance, reinsurance and insurance-linked read the full article →

Hurricane Ida complexity may drive loss creep: PCS interview

For our latest Artemis Live video interview we wanted to understand how the industry loss from Hurricane Ida has been developing and explore the complexities in the reconstruction and recovery that could impact just how high the insurance and reinsurance market loss could rise. Who better to do that with, than read the full article →

City National Rochdale ILW fund hits $179m, shares trade higher post-Ida

The industry-loss warranty (ILW) focused mutual fund strategy offered by investment adviser City National Rochdale (CNR) increased its net assets during the last quarter of record and the share price of the exchange traded fund (ETF) has been rising over recent weeks. The fund, which is largely invested in industry-loss warranties read the full article →

Lockton Re’s retro practice boosted by Simon Moore & James Boon

Lockton Re's non-Marine retrocession and property specialty reinsurance broking division has expanded in recent days with the joining of former CATCo CUO Simon Moore and Aon broker James Boon. The additions are timely with the approaching January 2022 renewals expected to see a retrocession market that has dented capacity available and read the full article →

Retro softened through 2021, with ILW prices down materially: GC’s Cook

The retrocession market failed to harden as hoped for through 2021, with in some cases rapid and material declines in pricing seen, especially in industry loss warranty's (ILWs'), according to Guy Carpenter's Sebastian Cook. Speaking during a recent media briefing, Cook, who is Head of London, Europe at reinsurance broke Guy read the full article →

Flight to quality continues as ILS managers get benchmarked: Lohmann & Matter, Schroders

There is a clear and ongoing 'flight to quality' where ILS funds are concerned, according to Dirk Lohmann, Chairman and Flavio Matter, Head of Origination, ILS, at Schroders Capital. Lohmann (right), a co-founder of the ILS investment management unit, stepped into the newly-created position of Chairman in September 2020, paving the read the full article →