Jamaica Minister of Finance highlights risk transfer as hurricane Beryl approaches
With major hurricane Beryl churning across the Caribbean towards Jamaica, the country’s Minister of Finance Dr. Nigel Clarke has highlighted the importance of robust disaster risk financing and responsive parametric risk transfer arrangements that are in-place, including its World Bank catastrophe bond. Hurricane Beryl remains a major and dangerous storm, with Category 5 winds and […]
PCRIC names Richard Poulter Chief Risk Officer
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive management where the Board of Directors will have a comprehensive view of how key risks are managed and controlled across […]
Cyber catastrophe bond market – room for growth is considerable: Howden
There is “considerable” room for growth in the cyber catastrophe bond market, as cyber insurers and reinsurers get increasingly comfortable with event-based excess-of-loss coverage options and use of quota shares in the cyber reinsurance space reduces, broking group Howden has said. Commenting on the growing cyber insurance market, Howden noted that prospects look strong, helped […]
Catastrophe bond market yield rose in June, ends month at 13.7%
The overall yield of the catastrophe bond market in US dollars rose slightly through June and ended the month at just under 13.7%, reaching levels last seen in August 2023. A consistent trend of spread tightening in the catastrophe bond market had driven yields down into and through the first-quarter of this year. That led […]
World Bank has now facilitated over US $4.8bn in catastrophe bonds
The World Bank has now facilitated and issued over US $4.8 billion in catastrophe bonds across 17 transactions we have covered over the years, with $745 million issued over the course of just a few weeks in 2024 to support Mexico and Jamaica’s disaster risk transfer and financing needs. The most recent catastrophe bonds from […]
Alternative capital hits $110bn mid-year high as reinsurance grows in 2024: Aon
The amount of alternative capital in the reinsurance industry has reached another new high at the middle of 2024, with capital allocated to alternative and insurance-linked securities (ILS) structures now reaching $110 billion, according to Aon. The broker noted catastrophe bond market expansion as a key driver, highlighting some of the milestones passed by the […]
World Bank has now facilitated over US $4.8bn in catastrophe bonds
The World Bank has now facilitated and issued over US $4.8 billion in catastrophe bonds across 17 transactions we have covered over the years, with $745 million issued over the course of just a few weeks in 2024 to support Mexico and Jamaica’s disaster risk transfer and financing needs. The most recent catastrophe bonds from […]
Saskatchewan Healthcare pension gets 26.4% return from ILS allocation in 2023
The Saskatchewan Healthcare Employees’ Pension Plan (SHEPP) saw it’s allocation to the insurance-linked securities (ILS) asset class via managers Aeolus Capital Management and Nephila Capital deliver an impressive 26.4% return in 2023. Gains generated from the strong returns last year and fresh investments made have helped the Saskatchewan Healthcare Employees’ Pension Plan (SHEPP) grow its […]
World Bank has now facilitated over US $4.8bn in catastrophe bonds
The World Bank has now facilitated and issued over US $4.8 billion in catastrophe bonds across 17 transactions we have covered over the years, with $745 million issued over the course of just a few weeks in 2024 to support Mexico and Jamaica’s disaster risk transfer and financing needs. The most recent catastrophe bonds from […]
Hannover Re secures upsized $140m target for 3264 Re cat bond
Hannover Re, the German global reinsurance company, has now successfully upsized its latest retro catastrophe bond, securing $140 million of retrocessional cover from the 3264 Re Ltd. (Series 2024-1) issuance. Hannover Re came back to the catastrophe bond market earlier this month, initially targeting $100 million of named storm and hurricane retrocessional protection for parts of […]