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.
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. Severe weather has led to a number of catastrophe events in countries where PERILS tracks read the full article →
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 →
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 →
The rising insurance and reinsurance industry loss from 2018's typhoon Jebi in Japan has caused what some are privately terming chaos in the industry-loss warranty (ILW) market, as two widely used but unofficial trigger data sources still show estimates at below $10 billion. Industry loss warranties (ILW's) are relatively simple risk read the full article →
City National Rochdale Select Strategies (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund, has continued to steadily grow its assets during its last reported quarter, although some loss impacts remain visible in the fund portfolio. The City National Rochdale Select Strategies Fund ($CNRLX) ILW focused reinsurance read the full article →