The Government of Mexico is looking to upsize its Pacific named storm protection from its latest tranche of World Bank and IBRD facilitated catastrophe bond notes, with now up to $175 million in parametric disaster insurance protection sought from the deal. Recall that Mexico has already secured $420 million in protection
The global hedge fund industry had a strong first-quarter to 2024, adding significant assets under management and delivering strong returns across many strategies. But, when it comes to investment strategies that can be truly diversifying, versus broader economic and capital market trends, catastrophe bonds and ILS were perhaps the best.
African Risk Capacity (ARC) has revealed that Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from the ongoing drought in the region, which is one of the worst in decades. In a recent meeting between ARC and its partners, stakeholders reportedly discussed the response to the drought
The Caribbean island nation of Jamaica is “pleased” to have secured coverage from its second World Bank supported catastrophe bond, Finance Minister Dr. Nigel Clarke has said, also citing his countries gratitude for financial support from Hong Kong, presumably through its ILS Grant Scheme. As Artemis reported yesterday, the latest
According to Artemis’ Deal Directory data, which tracks issuances of catastrophe bonds and related insurance-linked securities, the outstanding market has hit a record high of more than $47 billion in risk capital outstanding, having already risen by 5% since the end of last year. As of today, issuance of new 144A catastrophe
The North Carolina Joint Underwriting Association (NCJUA) has returned to the catastrophe bond market for the first time since 2013, seeking $125 million of more in aggregate named storm reinsurance from this Longleaf Pine Re Ltd. (Series 2024-1) issuance. Previously, the North Carolina Joint Underwriting Association (NCJUA) had sponsored catastrophe bonds
The total-return of the outstanding catastrophe bond market for the first-quarter of 2024 has reached 4.57%, according to data from the Swiss Re Cat Bond Performance Indices, which shows that cat bond market performance is running slightly behind the prior year. The fact the performance of the cat bond market
The United Nations Development Program (UNDP), with the National Agency for Perspective Projects of the Republic of Uzbekistan and the Association of Professional Participants in the Insurance Market of Uzbekistan, conducted a training for insurance sector specialists on the topic “Climate and Disaster Risk Finance” with the involvement of an international expert.
Leaders of 10 multilateral development banks (MDB’s) announced steps to collaborate more effectively to increase the impact and scale of their work, in order to tackle urgent development challenges, including addressing the growing need for disaster risk insurance and in climate risk financing. The 10 multilateral development banks (MDB’s) behind
The Fundamentals of Insurance-Linked Securities (ILS) is an online professional qualification upgrade course and in-person Swiss summer school convened by Phoenix CRetro Ltd. in partnership with various professional and educational institutions worldwide.
