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Lloyd’s market takes $1.1bn winter storm Uri loss. Rates drive growth

The Lloyd's of London insurance and reinsurance market suffered a loss of around US $1.1 billion because of winter storm Uri and the Texas freezing weather event in March, but this wasn't sufficient to dent a set of results that continue to show some improvement in performance. Lloyd's CEO John Neal read the full article →

Allstate adds $227m of pre-tax catastrophe losses in July

US primary insurance carrier Allstate has added another $227 million of pre-tax catastrophe losses for the month of July 2021, which is much higher than the prior year's $145 million. Allstate had closed out the second-quarter of 2021 with $952 million of pre-tax catastrophe losses, which was a relatively high quarter read the full article →

FedNat recovers $200m+ from reinsurance for Q2 cats & loss creep

U.S. primary insurance carrier group FedNat Holding Company benefited from its robust reinsurance arrangements during the second-quarter of 2021, with its executives revealing that upwards of $200 million has been recovered against recent and prior year catastrophe losses. First the latest quarter catastrophe loss events, which FedNat said cost it $23.5 read the full article →

ILS fund returns widely dispersed after first-half 2021: ILS Advisers

The return of catastrophe bond and insurance-linked securities (ILS) funds appear widely dispersed after the first-half of the year, as ILS Advisers reported a range of -5.1% to as high as +8%. This once again demonstrates the wide range of strategies in the catastrophe bond and broader insurance-linked securities fund marketplace, read the full article →

Allstate’s Sanders Re cat bond recovery rises to $253m in Q2

Catastrophe bond losses continue to affect investors in the $300 million Sanders Re II 2019-1 cat bond transaction sponsored by US primary insurance giant Allstate, as loss creep from US winter storm Uri and Texas freeze continued to erode the notes remaining principal in the second-quarter. As we explained earlier this read the full article →

Allstate’s Q2 catastrophe losses reach $952m pre-tax after June

US primary insurance carrier Allstate reported another $195 million of pre-tax catastrophe losses for the month of June, including some loss creep on prior period events, taking its pre-tax total for the second-quarter of the year to around $952 million. After May, Allstate's Q2 catastrophe losses had reached $757 million pre-tax. This read the full article →

ILS investment funds deliver above average May returns

The return of catastrophe bond and insurance-linked securities (ILS) funds as a group was above average in May 2021, at 0.58%, and even if you subtract the extraordinary boost one fund got due to what is expected to have been wildfire subrogation recoveries, the average ILS fund return was still read the full article →

May hail drives Allstate’s pre-tax Q2 catastrophe losses to $757m

US primary insurance carrier Allstate has reported $213 million of estimated pre-tax catastrophe losses for the month of May 2021, which takes the insurers second-quarter total to $757 million before tax. Severe weather and hail storms are the key drivers of May's catastrophe toll, with two large hail events responsible for read the full article →

Catastrophe losses still 17% above average after quieter May: Jefferies

Global insurance and reinsurance market losses caused by natural catastrophes and severe weather events are still running some 17% above the average for this time of the year, even after a much quieter month in May 2021. Analysts from investment bank Jefferies estimate that global insured catastrophe losses in May 2021 read the full article →

ILS funds hit by severe weather impact to aggregates in 0.24% April return

The insurance-linked securities (ILS) fund market delivered a very slightly below-average 0.24% return for April 2021, as the effects of severe weather events in the United States caused impacts to some aggregate contracts during the period. The Eurekahedge ILS Advisers Index was up by 0.24% for the month of April 2021, read the full article →