Critical role of risk financing and insurance in disaster response: Bavandi, Gallagher Re
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from COP 29 in Baku. He noted that effective private-sector strategies include risk pooling, public-private partnerships, parametric insurance, and catastrophe bonds. […]
Innovation, models, policy standards can drive cyber cat bond & ILS growth: Geneva Association
Further innovation in risk modelling and policy standardisation can help the cyber insurance and reinsurance community unlock more support from the capital markets through catastrophe bond and insurance-linked securities (ILS) markets, the Geneva Association has explained. A new Geneva Association report states that, “Financial innovations like cyber Cat bonds will help address the cyber protection […]
Investor willingness to address structural risks positive for collateralized reinsurance: Artex
Investor optimism remains strong for catastrophe bonds and reinsurance sidecars, but when it comes to collateralized reinsurance that optimism still lags, but institutional investors are positively working to address issues that have made allocating fresh capital more of a challenge in private ILS and collateralized reinsurance, according to Artex. Overall, the Artex View on alternative […]
Mapfre Re secures debut Recoletos Re cat bond at upsized $125m and reduced pricing
Mapfre Re has now successfully priced its debut catastrophe bond, with the Recoletos Re DAC (Series 2024-1) issuance now secured to provide the reinsurance company with an upsized $125 million of retrocession, with the notes priced below the initial guidance range that had been offered. Spanish global reinsurance company Mapfre Re ventured into the catastrophe bond market for […]
CCRIF pays $4.67m to Honduras under parametric excess rainfall insurance
The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has made a payout of US $4.67 million to the Government of Honduras after its parametric excess rainfall insurance policy was triggered following a severe event in November, taking CCRIF parametric payouts made for the current policy year to almost US $118 million. […]
IRB Re gets first ILS structure in Brazil approved by regulator
The Brazilian insurance regulator, Superintendence of Private Insurance (SUSEP), has approved the country’s first insurance-linked securities (ILS) structure, Andrina, sponsored by IRB Re. The authorisation allows Andrina Sociedade Seguradora de Propósito Específico, or Andrina Special Purpose Insurance Company, to issue Letra de Risco de Seguro (Insurance Risk Letters), the designated term for insurance-linked notes in […]
Talanx: Parametric Maschpark cat bond augments Chile quake reinsurance as exposure grows
Having recently secured its debut catastrophe bond, the $100 million Maschpark Re Ltd. (Series 2024-1) parametric earthquake issuance, German re/insurance group Talanx has said that the protection augments its need for reinsurance and to cover earthquake risks in Chile as its business grows. As we began reporting on November 7th, Talanx AG, the German insurance and reinsurance group, […]
APRA’s proposed lowering of reinstatement requirements favourable for ILS: Fitch
According to Fitch Ratings, the proposal from the Australian Prudential Regulation Authority (APRA) to remove the requirement for reinsurance arrangements to have a reinstatement in place could be a favourable move for the insurance-linked securities (ILS) market, allowing more risk to be transferred to investors from Australia’s insurance sector. As we reported earlier this month, […]
ILS market poised for further growth as barriers to modern tech decline: Moody’s Brookes
With barriers to adoption of modern analytical methodologies and technological innovations lower than ever, Ben Brookes, Managing Director – Advisory Services, Moody’s Insurance Solutions, has observed that the insurance-linked securities (ILS) industry is at a “pivotal moment”, poised to become stronger, more adaptable, and primed for growth. In a recent report on the market outlook, […]
UK Gov launches ISPV reform consultation including accelerated cat bond pathway
The UK’s Prudential Regulation Authority (PRA) has now officially launched its consultation on reforms for the insurance special purpose vehicle (ISPV) regulatory regime, which includes the accelerated pathway for certain catastrophe bond applications and a 10-day target for approvals of certain ILS arrangements. The consultation was teased back in September, when we first reported that […]