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.
Loss creep from hurricane Irma has remained evident for the major insurers operating in Florida in the third-quarter of the year, but the impact to reinsurance markets is slowing and the Florida Hurricane Catastrophe Fund (FHCF) has been soaking up much of the new claims inflation, at least from larger read the full article →
Indicative pricing for Japanese wind exposed industry-loss warranty (ILW) backed retrocessional reinsurance protection have risen significantly in response to the now consecutive years of heavy Japan typhoon losses, as well as nervousness over where current loss estimates will be finalised. At the same time, we're told demand for ILW capacity covering read the full article →
PERILS AG, the Zurich based provider of industry-wide catastrophe exposure, industry loss data and indices, is expanding its services to include New Zealand. PERILS, which is a non-profit but industry-supported service provider, already collects and distributes data on catastrophe insurance and reinsurance losses in Australia, so adding New Zealand is a read the full article →
Industry losses from the flood driven damage of typhoon Hagibis could reach into the double-digit billion dollar range, according to ILS manager Twelve Capital, who also highlighted that in the ILS market it is collateralised retrocession that appears most at risk of performance impacts. Specialist ILS and reinsurance fund manager Twelve read the full article →
Industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund City National Rochdale Select Strategies (CNRLX), grew its net assets by 13% in the quarter to July 31st, but also saw fresh losses on two positions as hurricane Irma continued to develop. The City National Rochdale Select Strategies Fund is read the full article →
Following the first successful catastrophe risk transaction to use the Tullett Prebon owned Insurance Linked Notes (ILN) platform, $10 million of insurance-linked securities (ILS) have now been listed on the Bermuda Stock Exchange (BSX). The first issuance and settlement of catastrophe risk linked notes through the ILN platform was recently completed read the full article →
The Tullett Prebon owned Insurance Linked Notes (ILN) platform has successfully completed its first issuance and settlement of catastrophe risk linked notes, in a transaction involving at least one ILS fund manager in LGT ILS Partners. Tullett Prebon, the electronic and voice interdealer broker and part of the TP ICAP group, read the full article →
Akinova, the start-up aiming to launch a platform or marketplace for the transfer and trading of insurance and reinsurance risks, has donated some of its data assets related to ILS to global standards-setting body ACORD. The aim is to showcase standardised insurance-linked securities (ILS) related assets more broadly to the insurance read the full article →
PERILS AG, the Zurich headquartered provider of catastrophe loss data and indices, is targeting expansion into the Japanese market and has hired an adviser to assist it. PERILS provides catastrophe loss data aggregation services, collecting data from certain insurance and reinsurance industry participants and reporting on losses, as well as providing read the full article →
Typhoon Jebi's impacts on the global insurance and reinsurance market is already above the 1-in-40-year loss level, according to estimates from S&P Global Ratings, who also warn that further material developments cannot be ruled out. Typhoon Jebi will account for more than 15% of the top-20 global reinsurance firms catastrophe budgets, read the full article →