Industry loss warranties news

News and articles about industry loss warranties (ILW). Industry loss warranties (ILW’s) are typically a fully-collateralised reinsurance transaction, often known as simply an ILW.

Industry loss warranties provide mainly retrocessional reinsurance protection, on an industry-loss trigger basis and can be structured as a derivative or swap, or a traditional reinsurance arrangement.

Industry loss warranty contracts (ILW’s) are popular hedging tools for global reinsurance firms, enabling them to 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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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 →

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 →

Cat bond & ILW activity help drive PERILS-based transaction limit higher

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. PERILS AG, the Zurich-headquartered provide of read the full article →

City National Rochdale ILW fund grows net assets 9% to $168.4m

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. While overall net assets grew by 9%, the investments held by the fund, which are largely in industry-loss warranties (ILW's), as read the full article →

ILW market continued to soften like cat bonds into July renewal: Willis Re

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. More predictable structures have proven incredibly popular among insurance-linked securities (ILS) investors read the full article →

Industry-loss warranty (ILW) market softens YoY as capacity rises

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. Just the other day we explained that read the full article →