European floods hit insurance-linked securities funds' June performance
Posted On: Jul. 31, 2013 12:00 AM CSTThe recent European floods have dragged down the average return of insurance-linked security funds – as tracked by the Eurekahedge ILS Advisers Index – in June to 0.00%, making June the worst month since October 2012, Artemis.bm reported.
The floods resulted in "the first significantly negative monthly performance numbers for some of the funds," ILS Advisers founder Stefan Kräuchi said.
Meanwhile, the cat bond market – as tracked by Swiss Re indices – fell 0.47% during the month for the price return index and climbed 0.17% for the total return index, Artemis.bm reported.