Industry loss warranty news

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management expects that the combined impacts of recent catastrophe events typhoon Hagibis, typhoon Faxai and hurricane Dorian will result in a roughly 25% impact to capital deployed in the 2019 portfolio of its listed fund.

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 players.

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.

PERILS AG, the Zurich based provider of industry-wide catastrophe exposure, industry loss data and indices, is expanding its services to include New Zealand.

Property Claim Services (PCS) has launched its second new service offering in as many days, announcing a service that will track global large onshore property losses of $500 million or greater, marking the loss data aggregator’s latest expansion into the specialty lines arena.

Property Claim Services (PCS) is greatly expanding its range of industry loss data aggregation and index reporting services to include Australia, New Zealand and also the Southeast Asia region, as it looks to capitalise on growing demand for its products.

As part of its efforts to run-off its portfolios of retrocessional reinsurance and return capital to its investors, Markel CATCo Investment Management has executed its first share buyback for the exchange listed ILS fund CATCo Reinsurance Opportunities Fund Ltd.

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.

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management has now established specific loss reserves for recent catastrophes hurricane Dorian and typhoon Faxai.

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.