RISX: ICMR (Re)Insurance Specialty Index

Equity index for the global specialty (re)insurance sector

RISX Price Return Index ('RISX')
4,465.14 +81.86 (+1.87%)
At close: 26 July 2024
RISX Net Total Return Index ('RISXNTR')
7,184.18 +131.79 (+1.87%)
At close: 26 July 2024

Get in touch Key documents

Insurance Capital Markets Reserach

Sharing risk for a more resilient world

The ICMR (Re)Insurance Specialty Index (RISX) is an equity benchmark for the global specialty (re)insurance sector based on publicly listed companies with underwriting subsidiaries in the Lloyd’s of London specialty (re)insurance market.

The RISX Index was developed by Insurance Capital Markets Research (ICMR) and is administered and calculated daily by Morningstar Indexes Ltd, as a Price Return Index (Ticker: ‘RISX’) and a Net Total Return Index (Ticker: ‘RISXNTR’), i.e. dividends reinvested net of withholding taxes.

Historical performance

©Insurance Capital Markets Research. Index administrator and calculator: Morningstar Indexes Ltd. Inception date: 2006-06-16, base value: 1000. All performance shown prior to 2021-03-22 was retrospectively calculated by application of the Index Methodology. The historical RISX index data is available via Bloomberg, Refinitiv or on request from ICMR.


Summary statistics

Top 10 constituents ‘RISX’

Name RIC Currency Weight (%)
1 Beazley BEZG.L GBP 9.76
2 Fairfax FFH.TO CAD 8.27
3 Tokio Marine 8766.T JPY 6.52
4 QBE QBE.AX AUD 6.19
5 Hiscox HSX.L GBP 5.52
6 AIG AIG.N USD 4.89
7 Axis AXS.N USD 4.58
8 Munich Re MUVGn.DE EUR 4.54
9 Axa AXAF.PA EUR 4.16
10 Markel MKL.N USD 3.79
Sum 58.22

Market Capitalisation

Data as at: 2024-07-26
Size Weight (%)
Large Cap (>USD 20bn) 54.84
Mid Cap (USD 5bn - USD 20bn) 34.96
Small Cap (<USD 5bn) 10.20

Performance statistics

RISX: Price return, RISXNTR: Net total return, i.e. dividends reinvested net of withholding taxes

Return and risk at close 2024-07-26
Return (%)
Max drawdown (%)
Annualised
return (%)
Annualised risk (%)
Index Level 1m 3m 1yr Ytd 3m 1yr 3yr 3yr 5yr 10yr 3yr 5yr 10yr
RISX 4,465.1 2.6 7.2 24.8 21.3 4.0 6.1 20.3 16.8 8.6 8.8 14.3 19.3 15.5
RISXNTR 7,184.2 2.6 7.8 27.3 23.1 4.0 5.9 18.8 19.3 10.9 11.1 14.3 19.2 15.5
Calendar year returns (%)
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
RISX 13.0 6.4 18.5 -14.2 12.6 3.2 7.1 5.9 16.4 5.6 31.7 20.6 -8.6 12.9 19.6
RISXNTR 15.3 8.8 20.9 -12.2 14.9 5.1 9.4 8.2 19.0 8.2 34.9 24.4 -5.3 17.3 24.7
Dividend yield (%)
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
TTM 1.87 2.04 1.80 2.01 1.92 1.93 1.99 1.90 2.00 2.23 2.05 2.83 3.73 3.32 3.50
Monthly 'RISX' returns (%) at close 2024-07-26
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2006 NA NA NA NA NA NA 2.8 7.8 1.2 9.5 4.2 6 35.8
2007 -2.8 0.9 3 5.5 -0.7 -1.7 -0.2 1.9 2.9 2.9 -6.9 -0.4 3.9
2008 -5.5 -1.4 -1.1 2.2 -3.2 -12.6 -3 -1 -2.6 -14.7 3.5 1.1 -33.5
2009 -8.7 -8.1 8.9 13.5 5.3 -3.5 6.1 11 1.1 -4.2 -2.5 2.1 19.6
2010 -2.1 0.2 3.2 0.6 -8.4 1.8 7.1 -4.2 6.6 4.1 -3.7 8.4 12.9
2011 0.5 5.8 -5.4 4.8 -2.4 -2.5 -0.4 -8.2 -6.1 8.7 -0.4 -1.9 -8.6
2012 2.8 3.8 2.6 1.5 -7.6 7 0.2 2.6 3.9 1.4 -1.4 2.6 20.6
2013 5.3 2.7 4 3.8 -1 -1 3.6 -3 5.2 3.9 4.5 0.3 31.7
2014 -7.9 5.1 2.4 -0.5 1.5 2.1 -4.4 2.2 -2 3 1.8 2.9 5.6
2015 -2.2 6.9 0.5 0.7 2 1.2 4.9 -3.6 0.7 5.5 -0.3 -0.5 16.4
2016 -5.8 -1.6 5.1 -2.7 3.6 -3.9 4.6 0.5 -1.4 0.5 5.2 2.5 5.9
2017 0.4 3 -0.8 1.1 0.2 0.8 4.8 -3.9 -0.2 3.3 -1.9 0.4 7.1
2018 5.5 -3.6 5.3 1.2 -1.6 -0.7 2.6 1.7 1.2 -5.6 3 -5.3 3.2
2019 2.9 4.3 -1.8 5.1 -2.3 3 -2 -3.2 5.1 -1.9 0.5 2.8 12.6
2020 -1.6 -8.3 -23.2 -0.8 1.3 5 3.1 5.1 -8.5 -1.5 18.1 1.8 -14.2
2021 -4.7 8.7 3.7 2.3 1 -4 2.8 4.3 -2.9 3.5 -4.5 8.2 18.5
2022 3.2 -2.9 2.5 -5.1 1.9 -5 -2.1 -1.5 -6 10.3 10.2 2.4 6.4
2023 5.4 0.1 -5.5 5.5 -2.5 3.5 2.6 -1.4 0.6 -1.2 5.9 0 13
2024 4.8 7.2 4.8 -2.6 5.3 -1 1.4 NA NA NA NA NA 21.3
Monthly 'RISXNTR' returns (%) at close 2024-07-26
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2006 NA NA NA NA NA NA 2.8 8 1.8 9.8 4.2 6.1 37.1
2007 -2.8 0.9 3.6 5.9 -0.1 -1.6 -0.2 2.1 3.3 3.3 -6.9 -0.3 6.9
2008 -5.4 -1.2 -0.7 3.2 -2.9 -12.2 -3 -0.4 -2 -14.4 3.6 1.1 -30.8
2009 -8.6 -7 9.8 13.9 5.6 -3.5 6.3 11.7 1.6 -4.2 -2.5 2.2 24.7
2010 -2 0.6 4.3 0.9 -8.1 2 7.1 -3.6 7.3 4.2 -3.7 8.5 17.3
2011 0.5 6.2 -4.5 5.1 -1.9 -2.4 -0.4 -7.5 -5.7 8.7 -0.4 -1.8 -5.3
2012 2.9 4.5 3 2.1 -7.4 7.1 0.2 3.2 4.4 1.4 -1.3 2.8 24.4
2013 5.4 3.2 4.3 4.4 -1 -0.9 3.7 -2.7 5.6 3.9 4.5 0.4 34.9
2014 -7.9 5.5 2.7 -0.1 1.7 2.2 -4.3 2.6 -1.7 3 1.8 3.1 8.2
2015 -2.2 7.3 0.9 1.1 2.1 1.4 4.9 -3.4 1.2 5.5 -0.3 -0.4 19
2016 -5.8 -1.3 5.8 -2.4 3.7 -3.8 4.6 0.7 -1.1 0.5 5.2 2.6 8.2
2017 0.5 3 -0.2 1.3 0.3 1 4.9 -3.7 0.2 3.3 -1.9 0.5 9.4
2018 5.6 -3.5 5.9 1.3 -1.5 -0.6 2.7 2 1.6 -5.6 3.1 -5.2 5.1
2019 3.1 4.5 -1.3 5.1 -2.1 3.1 -2 -2.9 5.4 -1.8 0.6 2.9 14.9
2020 -1.5 -8 -22.9 -0.6 1.4 5.3 3.3 5.1 -8.2 -1.4 18.1 1.9 -12.2
2021 -4.5 8.7 4 2.4 1.4 -3.7 2.8 4.5 -2.6 3.5 -4.5 8.3 20.9
2022 3.3 -2.6 3 -4.9 2.4 -4.7 -2.1 -1.4 -5.8 10.3 10.2 2.3 8.8
2023 5.6 0.2 -5 5.5 -2 3.7 2.6 -1.3 0.8 -1.2 5.9 0.1 15.3
2024 4.9 7.2 5.5 -2.3 5.6 -0.9 1.4 NA NA NA NA NA 23.1

For further information see key documents below, or contact ICMR.


Key documents

RISX Index

About RISX

The what and why

Factsheet

Summary of key statistics

White paper

Overview and background

Sustainability

Sharing risk for a more resilient world

Methodology

Selection and weighting process

Benchmark Statement

UK and EU BMR Benchmark Statement

Press Release

ICMR launches RISX Index with Moorgate Benchmarks

About ICMR

Insurance Capital Markets Research is the trading name of IC Markets Research Ltd, registered in England & Wales with number 12561699

ICMR logo


At Insurance Capital Markets Research (ICMR), we provide quantitative research on the global specialty (re)insurance industry. Our clients are insurance carriers, intermediaries and investors.

One of our core capabilities is the independent assessment of performance and return profiles of insurance entities and portfolios, both within Lloyd’s and globally. Our research focuses on investment strategies and the development of products to access the global specialty (re)insurance industry and Lloyd’s of London in particular.

Our founders were Lloyd’s former heads of analysis and research who also worked together in the capital markets and insurance linked securities. ICMR was established in early 2020 and launched the RISX Index in 2021.

For more information, licensing and contact details visit: https://insurancecapitalmarkets.com

Disclaimer

The information contained herein (the "Information") may not be reproduced or disseminated in whole or in part without prior written permission from Insurance Capital Markets Research. The information may not be used to verify or correct other data, to create indexes, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. Neither Morningstar Indexes nor ICMR nor any of their respective subsidiaries or their direct or indirect suppliers or any third party (the "Parties") involved in the making or compiling of the Information makes any warranties or representations and to the maximum extent permitted by law hereby the Parties expressly disclaim all implied warranties including warranties of merchantability and fitness for a particular purpose. Without limiting any of the foregoing and to the maximum extent permitted by law in no event shall the Parties have any liability regarding any of the Information for any direct, indirect, special, punitive, consequential (including loss of profits) or any other damages even if notified of the possibility of such damages. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. Neither ICMR, nor Morningstar Indexes nor RISX are associated or affiliated in any way with Lloyd’s of London or the Society of Lloyd’s or the Corporation of Lloyd’s.