In its first full year of trading, PERILS industry loss index saw the total placements of insurance risk transactions exceed $1 billion, according to insurance data provided by Zurich-based PERILS.

During the period Jan. 1 to Dec. 15, a total of $1.05 billion of PERILS-based capacity was placed in the capital and reinsurance markets. Insurance-Linked Securities (ILS) reached or $620 million or approximately 60% of the overall figure.  Meanwhile, $430 million was in the form of private or derivative transactions such as Industry Loss Warranties (ILW).

"The PERILS industry loss index has been an integral part of a number of the largest European windstorm insurance risk transactions placed this year and our expectation for 2011 is that the index will play an increasingly prominent role in this sector,” said Luzi Hitz, CEO of PERILS.

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