Industry loss warranty news
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.
The winding down and running-off of Markel CATCo Investment Management’s retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., continues apace, with the manager securing another $68.9 million release from side pockets established for potential loss reserves. The Markel CATCo managed retrocessional insurance-linked securities (ILS) fund has been successfully retrieving read the full article →
Tremor Technologies, the insurtech offering a technology-based programmatic insurance and reinsurance risk transfer marketplace, experienced higher activity in its live cat ILW marketplace yesterday for hurricane Sally, than it did a few weeks ago for Laura. The company launched a live cat industry loss warranty (ILW) marketplace for hurricane Sally yesterday, read the full article →
Tremor Technologies, the insurtech company that offers a technology-based programmatic insurance and reinsurance risk transfer marketplace, is set to make its marketplace available for every major hurricane threat, with live cat auctions set to be run by the insurtech, including today for hurricane Sally. Hurricane Sally is heading for a northern read the full article →
Aon's Reinsurance Solutions division has announced the hire of Stephen Pett in Bermuda, who joins the broker from his most recent position with insurance-linked securities (ILS) fund manager Nephila Capital. Pett joins Aon as a Vice President and broker and will focus on instruments such as industry loss warranties (ILW's) other read the full article →
Tullett Prebon has successfully completed another issuance through its Insurance Linked Notes (ILN) platform, with a $10 million U.S. wind industry loss instrument arranged, securitised and issued to investors. Electronic and voice interdealer broker and part of the TP ICAP group Tullett Prebon revealed a trading and issuance platform for what read the full article →
While hurricane Laura was intensifying rapidly on its path towards the Gulf Coast, insurtech firm Tremor Technologies ran a series of industry loss warranty (ILW) auctions, but no trades were made as the market assumed the loss would not be significant enough to warrant the added coverage. Interest in trading live read the full article →
Markel CATCo Investment Management’ in run-off retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., is to release a further $25.6 million of its trapped capital back to investors, as more positions in its side-pockets see positive reserve development. The news follows a $37.9 million return of trapped capital from read the full article →
Just an hour ago, we published a piece asking why acquiring hedging capacity when a major hurricane threat is in the water isn't easier and as if by magic it transpires that insurtech Tremor Technologies will run a series of industry loss warranty (ILW) auctions this afternoon, U.S. time, which read the full article →
The fact that insurance and reinsurance companies sold California wildfire related claims to third-parties may ultimately reduce the amount of subrogation recoveries that flow back to reinsurance and retrocessional interests, it appears. This morning, in an interim financial report for the in run-off CATCo Reinsurance Opportunities Fund, the listed retrocessional reinsurance read the full article →
Markel CATCo Investment Management' in run-off retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., is expecting another significant release of trapped capital, with another $37.9 million from its side pockets set to be returned to investors. The CATCo Reinsurance Opportunities Fund has continued to experience positive releases, as its read the full article →