News and articles about Industry loss warranty (ILW) contracts. Industry loss warranty contracts are typically a fully-collateralised reinsurance transaction, often known as simply an ILW.
Industry loss warranty contracts 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 warranties (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.
Verisk, the insurance and reinsurance market claims, data and technology focused service provider, has named two new leadership appointments within its PCS (Property Claim Services) business unit, in the wake of the departure of former PCS leader Tom Johansmeyer.
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The Texas Windstorm Insurance Association (TWIA) has now secured the reinsurance and risk transfer it wanted for 2023, with its tower placed to the targeted $4.508 billion and $1.2 billion of that provided by catastrophe bonds.
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Inver Re, the Ardonagh Group’s reinsurance broking arm, has made a key hire in taking well-known industry executive Tom Johansmeyer from Verisk’s PCS unit, to become the brokers’ new Global Head of Index products, Artemis has learned.
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Adopting a defensive position, with respect to the 2022 hurricane season, has paid off for an industry loss warranty (ILW) focused investment strategy, according to the CEO of the City National Rochdale Select Strategies Fund.
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The portfolios of reinsurance and retrocessional risk transferred to the capital markets, through catastrophe bonds and other insurance-linked securities (ILS), in 2023 are potentially the cleanest ever seen, while record cat bond issuance is a possibility this year, K2 Advisors has said.
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The Board of the Texas Windstorm Insurance Association (TWIA) has heard details of an industry-loss warranty (ILW) option for the top of its reinsurance tower, as the insurer of last resort considered buying more protection than its 1-in-100 requires for 2023.
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The industry loss warranty (ILW) market has softened somewhat, seemingly in-line with the catastrophe bond market, with what were record high ILW rates-on-line now coming in on average roughly 12% lower for the second-quarter of 2022, according to our sources.
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K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, is bullish on the outlook for the catastrophe bond market in 2023, but longer-term believes investor needs must continue to be met.
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Neville Ching, the former retrocession managing partner at brokerage Capsicum Re, has formally launched ReFlex Solutions Ltd, an independent reinsurance brokerage headquartered in Bermuda with a mission to bring distribution efficiencies and efficient capital to market.
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Swiss-headquartered fintech Cerchia is making progress as it looks to raise around US $200 million from investors and lenders for deployment to a new ILW structure that it believes can help reduce the risk of trapped capital.
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