IMF: Swapping Debt for Climate or Nature Pledges Can Help Fund Resilience
Innovative debt swaps can help governments that have limited access to traditional grants or debt relief Countries that are most vulnerable to climate change—and the associated loss of natural biodiversity—are often those least able to afford investment to strengthen resilience because their budgets are burdened by debt. Such countries face a high risk of fiscal […]
TWIA will look to renew cat bonds early, due to reinsurance market conditions
The Board of the Texas Windstorm Insurance Association (TWIA) is being urged to enter the catastrophe bond market and plan for a renewal of expiring Alamo Re notes sooner than normal, as market conditions could make the placement more challenging. TWIA’s reinsurance broker Gallagher Re has urged the Board of the residual market insurance entity […]
CEA gets $305m of quake reinsurance with Ursa Re II 2022-2 cat bond
Having struggled in placing reinsurance in October and feeling that the January renewals could be a further challenge, the California Earthquake Authority (CEA) has successfully sponsored the largest catastrophe bond issue since hurricane Ian struck, securing a new $305 million Ursa Re II Ltd. (Series 2022-2) deal. This placement of a significant $305 million transaction at a time […]
ILW opportunity is there, if industry takes advantage of it: Johansmeyer, PCS
For industry loss warranty (ILW) markets opportunities are plentiful heading into 2023, but it’s up to the industry to take advantage of it as more concepts are expected to continue to gain traction, according to Tom Johansmeyer, Head of PCS, Verisk Insurance Solutions. “There’s plenty of opportunity, but the real question is whether the industry […]
Huge opportunity for ILS market to influence the next evolution: Artex Capital Solutions CEO Faries
The current re/insurance market dislocation provides a unique opportunity for the insurance-linked securities (ILS) space to influence the development of a more sustainable industry for the benefit of all parties, according to Kathleen Faries, Chief Executive Officer (CEO), Artex Capital Solutions. Artemis spoke with Faries ahead of the January 1st, 2023, reinsurance renewals, which she […]
China’s Insurance Market posted remarkable changes in terms of size & structure
China’s insurance market posted remarkable changes in terms of size and structure in the past decade, according to the country’s top insurance regulator. The country’s insurance capital rose from 6.27 trillion yuan (about 872 billion U.S. dollars) in 2012 to 24.71 trillion yuan at the end of June 2022, with an average annual growth rate […]
Howden CEO predicts $2bn of private-funded disaster insurance capacity over next five years
A new article by David Howden, founder and CEO of the Howden Group, says that forecasts that $2bn of private funded disaster insurance capacity can be delivered in the next few years. Writing on LinkedIn, Howden said that he believes that this extra capacity can be delivered within the next three-to-five years. In his article, […]
Industry loss warranty (ILW) rates-on-line head for all time highs
In the wake of hurricane Ian, the industry loss warranty (ILW) market faces its share of losses, which, alongside broader issues impacting reinsurance and retrocession capital availability, means ILW rates-on-line are now heading for all time highs, according to our sources. We’ve now updated our industry-loss warranty (ILW) pricing data set using insights gathered from a […]
Twelve Capital gets Art 9 SFDR classification for Climate Transition Equity Strategy
Twelve Capital, the Zurich headquartered investment manager with a focus on insurance-linked securities (ILS), insurance and reinsurance linked investments, has had its Climate Transition Equity Strategy classified under Article 9 of SFDR. The strategy focuses on the environmental aspects of climate sustainability, while also considering social and governance aspects. It is employed to operate an […]
Renewals: 40% risk-adjusted rate increases not enough for some markets
Reinsurance renewal negotiations continue, but we’re told some placement proposals delivered for market feedback are receiving short-shrift, with carriers’ pushing back and asking for more rate. We’ve now heard from sources about a number of cases where reinsurance program renewals are getting sent back, with brokers and cedents being asked to sharpen their pencils, on […]