ILW fund’s defensive positioning for 2022 hurricane season paid off: CNR CEO
Adopting a defensive position, with respect to the 2022 hurricane season, has paid off for an industry loss warranty (ILW) focused investment strategy, according to the CEO of the City National Rochdale Select Strategies Fund. The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered […]
Industry loss warranty (ILW) rates-on-line soften from highs
The industry loss warranty (ILW) market has softened somewhat, seemingly in-line with the catastrophe bond market, with what were record high ILW rates-on-line now coming in on average roughly 12% lower for the second-quarter of 2022, according to our sources. We’ve updated our industry-loss warranty (ILW) pricing data set using insights gathered from a range of […]
Collateral can be held too long for US wind ILW’s, study suggests
With the key January reinsurance renewals having been challenging and characterised by reduced capacity and higher pricing, the focus can often turn to buying hedges such as industry-loss warranties (ILW’s), but a new study highlights some issues investors should be aware of. The study by Kriesch Advisors, mandated by Swiss-headquartered capital markets risk transfer focused […]
Industry loss cat bonds show significant relative value: Twelve Capital
Given spread widening has been seen to be more considerable with index-linked, or industry loss triggered, catastrophe bonds, compared to indemnity deals, investment manager Twelve Capital says there is significant relative value in them and as a result it advises being overweight to the index trigger cat bond category. Twelve Capital, the Zurich headquartered investment […]
Industry loss cat bonds show significant relative value: Twelve Capital
Given spread widening has been seen to be more considerable with index-linked, or industry loss triggered, catastrophe bonds, compared to indemnity deals, investment manager Twelve Capital says there is significant relative value in them and as a result it advises being overweight to the index trigger cat bond category. Twelve Capital, the Zurich headquartered investment […]
Cat bond market’s use of industry loss triggers likely to persist: Johansmeyer, PCS
As the catastrophe bond market continues to deal with the effects of the 2022 Atlantic hurricane season, Tom Johansmeyer, Head of PCS, Verisk Insurance Solutions, expects demand for industry loss triggers to persist for some time. “Given the impacts of Hurricane Ian on the market and the fact that they will continue through 2023, use […]
ILW opportunity is there, if industry takes advantage of it: Johansmeyer, PCS
For industry loss warranty (ILW) markets opportunities are plentiful heading into 2023, but it’s up to the industry to take advantage of it as more concepts are expected to continue to gain traction, according to Tom Johansmeyer, Head of PCS, Verisk Insurance Solutions. “There’s plenty of opportunity, but the real question is whether the industry […]
Industry loss warranty (ILW) rates-on-line head for all time highs
In the wake of hurricane Ian, the industry loss warranty (ILW) market faces its share of losses, which, alongside broader issues impacting reinsurance and retrocession capital availability, means ILW rates-on-line are now heading for all time highs, according to our sources. We’ve now updated our industry-loss warranty (ILW) pricing data set using insights gathered from a […]
ILW prices surged on higher demand, lower capacity: CNR ILW fund
Industry loss warranty (ILW) pricing surged through the first-half of 2022, thanks to rising demand for ILW protection amid a constrained market for reinsurance and retrocession capacity, according to the CEO of the City National Rochdale Select Strategies Fund. Garrett R. D’Alessandro explained that the industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy […]
The catastrophe bonds seen most at-risk from hurricane Ian (currently)
We wanted to provide a list of catastrophe bond names, for those transactions that are currently felt to be most at-risk of losses after major hurricane Ian’s landfall in Florida. It’s important to stress that this list will continue to change and that any mark-downs in cat bond prices we cite here are averaged from […]
