ILS NYC 2025 - Not long left to register. See the full agenda.
Here's our latest Friday wrap-up of key news from the week.
More information on market losses from the devastating wildfires in California emerged this week.
CoreLogic is the first risk modeller to issue a public industry loss estimate, at from $35bn to $45bn.
We reported on Monday about the catastrophe bonds which have been marked down on the wildfires.
Gallagher Re said it now expects the total will be between $20bn and $30bn.
BMS Group said the insured loss will exceed $25bn, while other analysts are largely in the $25bn to $35bn range, with some a little higher.
We also detailed price movements in mutual cat bond and ILS funds, with Stone Ridge's strategies moving the most.
The topic of subrogation also came into view, as utilities were reported to be under investigation for equipment potentially sparking one of the fires.
The catastrophe bond market was quieter this week, with just one new deal emerging today, a targeted $200m Ursa Re for the CEA.
We reported that UCITS catastrophe bond funds accounted for $13.8bn of cat bond AUM at Dec 31st, giving them 28% of the outstanding market.
While we also revealed that the NFIP's loss from hurricane Helene has risen, putting some of its cat bonds and reinsurance more at risk.
Also that, the BSX remains the ILS and cat bond exchange listing leader, while Bermuda remains the dominant home for cat bond and ILS company registrations.
Just a few weeks until our ILS NYC 2025 conference. Register soon to secure your place to attend.
We also announced the full agenda and final speaker additions for our ILS NYC 2025 conference this week.
In other news, the CEA is mulling the set-up of a subsequent or second-event funding tower, which would have some participation from reinsurance and risk transfer, possibly cat bonds.
Elementum Advisors unveiled a new collateralized reinsurance strategy that enhances the firm's higher-yield strategy complement.
Fermat Capital Management also launched a new range of commingled ILS strategies already supporting around $2 billion in assets.
Howden announced that Philipp Kusche will take on an expanded role as Chairman of HCMA, Europe, with Mitchell Rosenberg becoming Co-Head of Global ILS.
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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