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.


What the US Capitol riots mean for re/insurance and ILS interests: Interview

We spoke with Tom Johansmeyer, Head of PCS, today, to discuss the rioting and civil disturbance seen at the US Capitol buildings on January 6th 2021. While the rioting and disturbances seen yesterday won't have any significant implications in terms of losses for the insurance and reinsurance industry, there is a read the full article →

City National Rochdale ILW fund lifts assets by 13%

City National Rochdale’s largely industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund increased its total net assets under management to $147.8 million by the end of October 2020, an increase of 13% in the quarter. The City National Rochdale Select Strategies (CNRLX) fund is an interval style mutual read the full article →

Quota share & ILW use rises in Bermuda, ILS use flat

The latest catastrophe risk stress testing analysis by the Bermuda Monetary Authority (BMA), of its property and casualty insurance and reinsurance market, shows up some interesting trends in the use of specific types of hedging, reinsurance and retrocession arrangements. Having surveyed its marketplace based on 2019 data, the results show that read the full article →

Munich Re lifts Jebi industry loss to $13bn, some ILW’s potentially in play

Global reinsurance firm Munich Re has lifted its estimate for insurance industry losses from 2018's Japanese typhoon Jebi to $13 billion, which we understand could put a handful of still-exposed industry loss trigger contracts such as ILW's in play. Munich Re provides estimates of insurance market losses for major catastrophe events read the full article →

Turker Re launches Capital Solutions unit & Turkey quake ILW product

Turker Re, a Lloyd's broker with a significant insurance and reinsurance broking footprint in the Turkish marketplace and surrounding region, has launched a new product offering of a Turkey earthquake industry loss warranty (ILW) as the first under a new Capital Solutions unit. The broker hopes to create a new market read the full article →

CATCo successful in releasing another $8m of capital from side pockets

The CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, has successfully secured another release of trapped capital which will be returned to its investors. The Markel CATCo managed retrocessional insurance-linked securities (ILS) fund has been successfully unlocking trapped capital that had been set aside for read the full article →

Conduit Re gets preliminary A- rating as start-up plans progress

Conduit Re, the pure reinsurance start-up looking to raise $1.1 billion with a London Stock Exchange listing and launch in Bermuda, has had an early signal of approval from rating agency AM Best, which has given the company an all-important preliminary A- rating. Conduit Holdings and Conduit Reinsurance are being launched read the full article →

Conduit Re expects to underwrite retro & ILW’s, collateralised an option

Conduit Re, the reinsurance company that is looking to raise $1.1 billion with a London Stock Exchange listing and launch in Bermuda, has retrocession, industry-loss warranties (ILW's) and also collateralised business within its sights. Being a new reinsurance company to the market, at a time when there has been significant private read the full article →

PCS designates record number of catastrophe events in 2020

Highlighting the truly exceptional level of severe weather and natural catastrophe activity in 2020 so far, Property Claim Services (PCS) has already designated a record number of PCS Catastrophe events, with just over two months of the year left to run. Property Claim Services (PCS), a division of Verisk Analytics, has read the full article →

PCS designates hurricane Delta as first Mexico catastrophe event

Property Claim Services (PCS) has designated recent hurricane Delta's impacts on the Yucatan region as the first catastrophe event under its recently launched PCS Mexico industry loss data aggregation and index reporting services. PCS teamed up with Asociación Mexicana de Instituciones de Seguros (AMIS) to launch the PCS Mexico service just read the full article →