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.
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.
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An increase in use of PERILS industry loss triggers in industry-loss warranty (ILW) transactions focused on European windstorm risk, plus the buoyant catastrophe bond market, have helped to drive PERILS-based limits at risk up 11% to US $3.2 billion, as of the end of August.
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Having access to diverse and efficient sources of capital and ensuring they are treated as equal is increasingly a key trait of a successful reinsurance company, something the CEO of global player Everest Re clearly understands.
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Global insurance and reinsurance company Everest Re has reported a strong second-quarter of results, with its reinsurance book expanding almost 40% on a gross premium basis, but with catastrophe losses a little ahead of the prior year.
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The industry-loss warranty (ILW) focused mutual fund strategy offered by investment adviser City National Rochdale (CNR) has grown its net assets by roughly 9% during the last quarter of record.
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The market for industry-loss warranty (ILW) protection continued to soften into the July renewal, broker Willis Re has explained, which appears to be a continuation of the trend seen pre-June, as these structures followed the catastrophe bond market’s pricing.
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Everest Re is aiming to expand its access to third-party and alternative sources of reinsurance capital, with growth of its Mt. Logan Re sidecar-like structure seen as a key strategic opportunity, according to its CEO.
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Following conversations with a number of market sources, it seems that the market for industry-loss warranty (ILW) protection has softened year-on-year, following on the heels of the catastrophe bond market as capacity turns its attention to ILW’s in the run up to the renewals.
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Global independent brokerage Price Forbes has announced a new key hire in Bermuda, as the company appointed Nicolas Bardon as Executive Vice President, bringing retrocessional reinsurance and industry-loss warranty (ILW) capabilities to the firm.
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With the Florida reinsurance renewals fast approaching, it’s interesting to learn that indicative pricing for industry-loss warranty (ILW) protection covering hurricanes affecting the state is up significantly year-on-year, but actual market pricing may be flat or even down. Please read our update at the foot of this article.
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