Tight ILS pricing strains Florida renewal

Tumbling cat bond prices continue to exert pressure on the wider
reinsurance market and are likely to curb rate increases at the
upcoming Florida renewal.
With a clear picture on mid-year rates yet to emerge, some of
the insurance-linked securities (ILS) benchmarks set amid a muted
April renewal will raise questions over how much of a pricing
reaction to Hurricane Irma losses may be achievable.
On the other hand, underwriters are pointing to jitters over
whether Irma losses will track...