Aspen Capital Markets AuM reaches $918m, fee income hits $61.4m
Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance company, has increased its third-party and insurance-linked securities (ILS) assets under management to almost $918 million, while earning $61.4 million in fees from these activities in 2021. The capital utilised in Aspen Capital Markets’ activities at the company rose by some 35% over the course […]
The role of insurance in meeting the financial need to preserve biodiversity
Biodiversity loss will be an increasingly important source of risk and opportunity for the insurance sector. The significant degradation of ecosystems has the potential to materially impact global finance, economies, and societies alike. Understanding the physical and transition risks associated with biodiversity loss and working to mitigate the damage to biodiversity will be a key […]
ILS capital fell slightly to $96bn in second-half of 2021: Aon
Alternative reinsurance capital levels, largely in insurance-linked securities (ILS) formats, declined very slightly in the second-half of 2021, with broking giant Aon estimating it fell to $96 billion by the end of the year. This decline occurred after alternative reinsurance or ILS capital had rebounded to equal its previous high of $97 billion at the […]
New earthquake assessments strengthen preparedness in Europe
European scientists with the participation of the Swiss Seismological Service at ETH Zurich have published an updated earthquake hazard map and, for the first time, an earthquake risk map for Europe. Switzerland will follow suit next year with a higher resolution national risk map. FULL PUBLICATION HERE
USAA to upsize new cat bond to $415m as coupons all rise
The target issuance size for the latest catastrophe bond from U.S. primary mutual insurer USAA has been lifted to $415 million, while at the same time the pricing for all four of the remaining tranches of the Residential Reinsurance 2022 Limited (Series 2022-1) deal now look likely to settle at the top of raised guidance. USAA […]
ILS offers reliable & consistent diversification potential: PIMCO
The steady, positive returns delivered by insurance-linked securities (ILS) during times of broader financial market downturns, shows that the asset class offers reliable and consistent diversification potential for investors, according to PIMCO. In a recent report, PIMCO (Pacific Investment Management Company LLC), which is owned by insurance giant Allianz, explores the case for a dedicated […]
Access to third-party capital & ILS positive for London market: AM Best
Rating agency AM Best has maintained its outlook for the London insurance and reinsurance market at Stable, with improving access to third-party capital one of the key drivers. AM Best believes that access to third-party reinsurance capital and the ability to more readily utilise insurance-linked securities (ILS) are positives for the London market, which should […]
City National Rochdale ILW fund beats cat bond benchmark
The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark. The positive net return of 5.95% for the year to January 31st 2022 was a little lower than the prior year, […]
Cat bond spreads widening as market experiences mismatch
The catastrophe bond market is seeing spreads widen for practically all new issuances, with market sources telling us about a mismatch, on multiple counts, that has the effect of driving prices higher, and is also sending broader signals on the potential trajectory for catastrophe reinsurance rates at the mid-year renewals. During the first-quarter of 2022, […]
WEF: It’s not just climate change driving natural disaster losses
Climate change is contributing to rising losses from natural disasters, including increased damage to physical assets and disruption to business operations. But an underreported driver of losses is the growing number and value of exposed properties, such as those in floodplains. Organizations should set a baseline of risk to understand how natural disasters can impact […]