Here's our latest Friday wrap-up of key news from the week.
This week, we reported on the latest cyber catastrophe bond, as Beazley upsized the deal twice to secure $210m of reinsurance from the PoleStar Re 2024-3 issuance.
We discussed basis risk in parametric risk transfer and highlighted our belief the market can overcome this issue, with use of advanced tech, data and a clean-slate approach to program and tower design.
We reported on two cat bonds from American Integrity that have been marked down on loss creep from hurricane Ian.
We also reported on other recent cat bond principal losses, citing Icosa Investments.
The yield of the outstanding cat bond market declined in August as seasonality accelerated with peak hurricane season.
While the Swiss Re cat bond index reached more than 10% for the year to end of August, as returns remain historically elevated.
We also reported on the first ILS registration in Brazil, from IRB RE.
A new video interview was published this week, exploring life reinsurance and its use of third-party capital with Damian Cooper of PwC Bermuda.
Register for our live ILS Market Outlook 2025 webinar.
In other news this week, AXA XL hired Chris Caponigro as Head of Reinsurance Capital Management.
Gallagher Re estimated that the flooding in central Europe could drive losses of up to $3.3 billion.
Hurricane Francine is pegged at below $2bn by Moody's.
Chris McKeown of Vantage Risk believes collateralized reinsurance opportunities and new lines of business are increasingly of interest to investors.
Stephan Ruoff of Schroders Capital told us that ILS managers need to maintain clear investment principles, stay disciplined and be judicious in their selection of risks and counterparties.
The global reinsurance industry is consolidating organically, rating agency AM Best believes, who said ILS and retro partnerships are key to the sector.
Finally, if you haven't seen them, Artemis has a wealth of data and analytics on the catastrophe bond and broader ILS market. View our charts and Deal Directory.
Catch up on our video interviews with ILS market leaders here.
If you prefer to listen, subscribe to our podcast series for audio interviews & additional special episodes.
We'll be back next week with more regular coverage.
We hope you have a safe & relaxing weekend.
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