US property cat rates to rise 4-5% post-Irma: Bernstein

A drop in available insurance-linked securities (ILS) capital
after hurricanes Irma and Harvey will likely trigger US property
catastrophe rate increases of 4-5 percent, Bernstein analyst Thomas
Seidl has claimed.
The Bernstein analyst estimated that between 8-10 percent of ILS
capital will be eroded and that some will be trapped until loss
estimates from Irma are more robust. This suggests ILS capital
supply will be lower for the 1 January renewals, Seidl said in a
note today.
"Based on our...