Aon on insurance broker’s role in disaster resilience
“Few and far between” wouldn’t be the phrase to describe the natural disasters that are hitting New Zealand with increased severity and frequency – and in a country that is prone to a range of these hazards, Aon says catastrophe modelling is of extreme importance. Similarly, insurance brokers have a crucial role to play if insureds are […]
Revisiting the China Opportunity
Authors’ note: Russia’s invasion of Ukraine has heightened geopolitical tensions and uncertainty. We believe that China will continue to be strategically important for MNCs and that the core analysis and recommendations in the article will remain valid and useful for many companies. With the global economy in flux, companies must rethink their ways of doing business […]
Malawi to receive parametric drought insurance payout from ARC
The African Risk Capacity (ARC) will make at least a US $14.2 million payout to benefit the people of Malawi, after the country’s parametric drought insurance coverage was triggered. The climate insurance pay-out will be made by African Risk Capacity (ARC) Limited to the Malawian government in June, after the country experienced its driest season […]
SBAI publishes responsible investment guidance for ILS funds
The Standards Board for Alternative Investments (SBAI) has published a new guidance document that covers responsible investment within the insurance-linked securities (ILS) fund management industry. The SBAI had already ramped up its focus on environmental, social and governance (ESG) alongside responsible investing within various asset management segments. This included the publication of toolkits to help […]
Funding needed for climate disasters has risen ‘more than 800%’ in 20 years
The funding needed by UN climate disaster appeals has soared by more than 800% in 20 years as global heating takes hold. But only about half of it is being met by rich countries, according to a new report by Oxfam. Last year was the third costliest on record for extreme weather events such as droughts, floods […]
Peak Re’s cat bond to be first to use Hong Kong ILS grant
Having recently completed the sponsorship of its first ever catastrophe bond, Hong Kong headquartered global reinsurer Peak Reinsurance Company (Peak Re) wants to play an important role in helping to develop Asia’s insurance-linked securities (ILS) market and building regional resilience. This is according to Franz Josef Hahn, CEO of Peak Re, who in commenting on […]
Swiss Re opts for zero-coupon & multi-year notes in new Matterhorn Re cat bond
Global reinsurance giant Swiss Re is making headway with the issuance of its newest catastrophe bond, the $150 million targeted US hurricane focused Matterhorn Re Ltd. (Series 2022-2) deal and it seems zero-coupon and multi-year protection are proving most economical. As we reported on May 24th, Swiss Re was back in the catastrophe bond market […]
Lessons from Australia’s one-in-a-1,000-year event
The recent floods in Queensland and New South Wales have taken a heavy toll on Australia. However, amidst the losses, valuable lessons can be learned as well: In several communities, flood-mitigation paid off. HDI Global’s Mr Stefan Feldmann reflects on how we live with our changing environment. In March 2022, a severe weather system combined with La Niña […]
Peak Re sponsors 144A catastrophe bond in Hong Kong
Hong Kong-based global reinsurer, Peak Re has issued a US$150 million 144A catastrophe bond via Black Kite Re Limited, a newly established special purposed insurer in Hong Kong. As part of the transaction, Peak Re has entered into a retrocession arrangement with Black Kite Re, providing Peak Re with a multi-year protection against typhoon risk […]
Aussie deep science startup Reask is calculating climate catastrophe on a global scale
Reask co-founder Nick Hassam is speaking at InsurTech Connect Asia in Singapore this week as part of an AusTrade delegation to explain how the company uses data, technology and high-performance computing for climate catastrophe risk modelling. His return to Asia is poignant, since the last time he visited was five years ago for the 15th […]