SSREF - Loss Creep Sours End Of 2018 For Some ILS Fund Returns
It's becoming clear that continued loss creep from catastrophe events that occurred in both 2017 and 2018 has soured end of year performance for some insurance-linked securities ((ILS)) funds and collateralized reinsurance vehicles.
After another difficult year peppered with mid-sized catastrophe loss events, the final month of 2018 saw returns dented by creeping loss exposures to a number of events for some ILS funds, we're told.
Impacting the funds in December were creeping loss estimates and reported losses from ceding companies for 2017's Hurricane Irma that continued to rise in the month, we're told.
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