Industry loss warranties news

City National Rochdale’s industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund grew during the last quarter and saw “positive opportunities” at the January reinsurance renewals, with an expectation of the ILW market seeing dynamic conditions and improving returns.

Silent pandemic risk as akin to silent cyber. It’s an exposure that is potentially secreted deep inside numerous lines of insurance and reinsurance business, with claims governed by contractual fineries and wordings. As a result it’s an exposure that is hard to quantify, but that may require hedging.

Indicative pricing for industry-loss warranty (ILW) structured retrocessional reinsurance protection has risen for U.S. and European wind and storm related perils, with some relatively significant increases seen at certain trigger levels.

Industry backed catastrophe loss data aggregator and estimator PERILS AG is investigating three recent events around the globe, to establish whether they will meet the various thresholds for each region and peril to warrant regular reporting.

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 players.

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.

PERILS AG, the Zurich based provider of industry-wide catastrophe exposure, industry loss data and indices, is expanding its services to include New Zealand.

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.

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.

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.