
Here are the ten most popular news articles, week ending October 13th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics.To ensure you never miss a thing or get our email alerts for every article we publish.Hurricane Milton loss $30bn – $50bn.
Substantial ILS impact not expected: Euler ILS Partners Hurricane Milton is initially estimated to result in insurance and reinsurance industry losses below $50 billion, according to Euler ILS Partners, at which level the notional impact to insurance-linked securities (ILS) portfolios is not expected to be substantial.Hurricane Milton: Pre-landfall broker loss estimates ranged $15bn to $40bn Projections for the potential insurance industry loss from hurricane Milton given just a few hours before landfall by two reinsurance broker meteorologists ranged from $15 billion to $40 billion, which appears a reasonable place to begin thinking about the potential quantum of losses set to be experienced.Hurricane Milton estimated a 0% – 4% principal loss to the cat bond market: Twelve Capital Analysis undertaken by specialist investment manager Twelve Capital suggests an insurance industry loss in the range of $20 billion to $50 billion from hurricane Milton, with a 0% to 4% principal loss possible for the catastrophe bond market.
Cat bond market index falls 1.34% on hurricane Milton.US wind down 3.64% Responding to the potential impact of losses from hurricane Milton, the catastrophe bond market has fallen by just 1.34% at the end of week pricing of the index calculated by Swiss Re Capital Markets, while the US wind specific version of the cat bond index fell by only 3.64%.Milton loss below $50bn may not be sufficient to move pricing: Jefferies Differing from the views of some other equity analysts, the Jefferies team believe that hurricane Milton would need to result in an insurance industry loss of above $50 billion for it to cause any hardening of property reinsurance at the January renewals.
Hurricane Helene privately insured losses estimated $8bn to $14bn by Moody’s RMS Moody’s RMS Event Response has said that it estimates private market insurance industry losses from hurricane Helene will be in a range from $8 billion to as much as $14 billion, one of the highest estimates seen so far.ILS a major change that drove deconstruction of re/insurance balance-sheet: Convergence panel Speaking at ILS Bermuda’s Convergence 2024 event this week, David King, Founder and Senior Managing Director of Culpeper Capital Partners, stated that insurance-linked-securities (ILS) has been a major change that has helped drive a deconstruction of the traditional insurance and reinsurance balance-sheet.Starwind raises $270m Fractal Re casualty sidecar.
Stone Point, Enstar, State National support Starwind Specialty Insurance Services, LLC, a program management subsidiary of broking group TIH, has secured $270 million of collateralized reinsurance capacity for certain casualty risk focused programs, through the launch of Fractal Re Ltd., a multi-year collateralized quota share sidecar structure.Verisk puts hurricane Helene industry loss at $6bn to $11bn, excluding NFIP Hurricane Helene is estimated to drive private market insurance and reinsurance industry losses in a range from $6 billion to as high as $11 billion by Verisk.Amwins and Floodbase partner on parametric flood insurance for California Municipalities Amwins, the insurance origination and distribution specialist, has partnered with insurtech Floodbase, which acts as a data provider and reporting agent for parametric risk transfer arrangements, to launch a new product targeted at California Municipalities.
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