ORIGINAL PUBLICATION HERE The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund, managed a 6.6% annual return in the year to Jan 31st 2019, while its assets under management increased in the last quarter as well. Given the focus of the City National Rochdale […]

ORIGINAL PUBLICATION HERE Alternative sources of capital now contributes at least 4% of the global non-life insurance and reinsurance market’s roughly U.S. $2 trillion capital base, according to Swiss Re. The reinsurance firm puts the overall non-life global insurance capital base at $2 trillion, 80% (or $1.6 trillion) of which comes from primary insurers, 16% […]

ORIGINAL PUBLICATION HERE Typhoon Jebi has already become the loss creep story of 2019 so far, but it’s set to become an even higher profile case as a rising industry loss estimate for the storm means it’s now expected that a number of industry loss warranty (ILW) contracts will payout. We understand that one of […]

ORIGINAL PUBLICATION HERE Indicative pricing for certain types of industry-loss warranty (ILW) backed retrocessional reinsurance protection has been on the rise, with Florida wind and as a result U.S. all natural perils seeing the largest increases of in advance of the mid-year renewals. In 2019 there has been a scarcity of capacity for certain retrocessional […]

ORIGINAL PUBLICATION HERE The Lane Financial LLC synthetic insurance-linked securities (ILS) rate-on-line index rose 15% during the final quarter of the year as ILS rates look to have entered hard market territory, while its analysis indicates ILS rates could rise up to 20%. Based on ILS and catastrophe bond market pricing as of mid-December, the […]

ORIGINAL PUBLICATION HERE Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW), has completed its acquisition of Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG). Alston Gayler has a recognised ILW broking practice specialty and experience broking to collateralised reinsurance markets as a result and is […]

ORIGINAL PUBLICATION HERE Insurance-linked securities (ILS) cells established in Guernsey will benefit from formalised collateral rollover provisions, including confirmation of a 30-day grace period at the start of a transaction where an ILS cell would not be considered in breach of its fully-funded requirements. The Guernsey Financial Services Commission (GFSC) has clarified and formalised certain […]

ORIGINAL PUBLICATION HERE The gap in terms of fronting services for collateralised and ILS markets left by the acquisition of Tokio Millennium Re by Bermudian reinsurer RenaissanceRe is being filled we’re told, as the usual suspects look to take on any of that business they find attractive. We’ve been told that a number of players […]

ORIGINAL PUBLICATION HERE Pricing for industry-loss warranty (ILW) backed retrocessional reinsurance protection has not shifted significantly since the aggregation of recent catastrophe loss events, with brokers still pitching capacity at the same rates as prior to the wildfires, sources have told us. Since the California wildfires are now assumed to be a $15 billion plus […]

ORIGINAL PUBLICATION HERE The returns on aggregate insurance-linked securities (ILS), including catastrophe bonds, are being questioned by some investors, following the significant number of catastrophe loss events that have qualified under some contract terms in the last two years. Sources said that investors are set to demand a premium for renewing some aggregate ILS arrangements […]