Industry loss warranty news

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.

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.

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.

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 gets much closer to meeting […]

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.

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.

Purchasing of retrocessional reinsurance coverage in industry-loss warranty (ILW) form was seen to show a “material increase” around the mid-year renewal season, according to broker Aon.

Markel Corporation is expecting to settle the binding arbitration case between it and the former Markel CATCo CEO Tony Belisle during the third-quarter of the year, putting another piece of the legal saga behind it.

The in run-off CATCo Reinsurance Opportunities Fund Ltd., the exchange listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is set to return more trapped capital back to investors as its side pockets continue to prove more than adequate for certain older loss reserves.

More predictable and transparent insurance-linked securities (ILS) structures, offering less ambiguous coverage, may be the immediate winners after the Covid-19 pandemic crisis, with catastrophe bonds and industry loss warranty (ILW) contracts an area set to receive increasing investor focus, according to S&P.