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Property Claim Services (PCS) industry loss data aggregation and index reporting services for non-marine catastrophe losses in Japan has already been used for an industry loss warranty (ILW).

We’ve learned that reinsurance broker Willis Re has become the first to structure and trade an industry loss triggered retrocessional risk transfer instrument using the still relatively new PCS Japan index as a trigger.

PCS launched its Japan focused industry loss data and index service in January of this year, as it responded to demand from its client base following the impacts of major catastrophe losses in 2018.

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