The World Bank to scale up use of reinsurance and risk transfer for disasters
The World Bank has revealed that its expanded Crisis Preparedness and Response Toolkit has a focus on offering increased protection against large-scale disasters, enabling the mobilisation of private capital and the ability to transfer the risks of high-intensity but low-frequency disasters to reinsurers and the capital markets. Building on existing tools like catastrophe bonds, the […]
Florida State Board allocated $398m to ILS for 1/1, across Aeolus, Pillar, RenRe
The Florida State Board of Administration, which manages the states massive roughly $180 billion Florida Retirement System Pension Plan, has allocated $398 million to reinsurance and retrocession opportunities across three ILS managers in time for the January renewals. The Florida State Board of Administration was already allocated to insurance-linked securities (ILS), for the Florida Retirement […]
Cyber cat bonds issued so far “highly correlated” with each other: Plenum
While the catastrophe bond market cheered the emergence of cyber cat bonds in 2023, fund manager Plenum Investments has offered a note of caution, saying that as they all cover cyber loss events that would be in the far tail, they are all correlated with little diversification on offer between them. As a result, Plenum […]
Augment Risk launches dedicated insurance-linked securities (ILS) division
Risk capital and reinsurance solutions broker Augment Risk has launched a dedicated insurance-linked securities (ILS) offering, as it looks to break into the market for matching insurance risk with institutional capital. The company has hired Thad Hall to lead this new offering as Partner, Head of ILS Solutions at Augment Risk. Hall was most recently […]
Cat bond funds buck the UCITS trend, growing as sector saw $38bn outflows: Kepler
Catastrophe bond funds were a bright spot in the alternative UCITS investment fund space in 2023, as cat bond funds expanded strongly at a time when the wider UCITS segment experienced approximately $38 billion in outflows, according to Kepler Absolute Hedge. As we reported back in January, our tracker of UCITS catastrophe bond fund assets […]
Turkey earthquakes industry loss estimate raised 26% to US $6.2bn
The insurance and reinsurance market industry loss estimate for the Kahramanmaras Earthquake Sequence that struck Turkey in February 2023 has been lifted by a significant 26%, by PERILS, to reach TRY 117 billion, which would have been US $6.2 billion at exchange rates when the disaster struck. The increase brings PERILS industry loss more into […]
Cat bond market drives ILS growth, moderate expansion to continue: Moody’s
According to Moody’s Investors Service, the catastrophe bond market remains the key driver of growth in insurance-linked securities (ILS), expecting a moderate pace of growth to continue as cat bonds become increasingly embedded into cedent reinsurance towers. But a rapid growth phase for the cat bond market is not anticipated by the rating agency, because of […]
Our Programme was shortlisted for the AXCO’s Global Insurance Awards’24
Phoenix CRetro is delighted to be shortlisted for the Axco Global Insurance Awards in the Best Training Initiative in Global Risk category. Now its 2nd year, the Axco Global Insurance Awards celebrate the outstanding achievements, innovation and collaboration of the insurance ecosystem managing complex global risk. Following a thorough judging process, Phoenix CRetro was shortlisted, […]
H2 returns drive private ILS funds above cat bond funds for 2023: ILS Advisers
Having already set a new full-year record return by the end of November, the results of the final month of 2023 have lifted the average return of private ILS funds further above catastrophe bond funds, according to the Eurekahedge ILS Advisers Index. As we reported a month ago, the Eurekahedge ILS Advisers Index had already set […]
Hedge Funds’ Mega Returns Set Off Demand Spiral for Catastrophe Bonds
As hedge funds rake in record profits in one of the riskiest corners of the debt market, the products behind those returns are now drawing in more mainstream investors. Catastrophe bonds, which last year formed the basis for the best-performing hedge fund strategy, have been delivering gains that trounce those of other high-risk fixed-income products. […]