One of the best entry opportunities to catastrophe bonds: Ramseier, Twelve
Current market conditions make allocating to the catastrophe bond asset class a particularly attractive prospect for investors at this time, according to Twelve Capital Founding Partner & Group CIO, Dr. Urs Ramseier. In a letter, Ramseier sets out the Twelve Capital view on the current geopolitical landscape, and how the invasion of Ukraine by Russia […]
Mexico launches IDF-backed parametric climate solution for farmers
The Government of Mexico has announced the launch of a tripartite project to develop a sovereign parametric insurance solution for climate-vulnerable smallholder farmers, supported by investments in long-term risk finance and insurance market development. The solution represents a partnership between the Ministry of Finance & Public Credit, the Insurance Development Forum (IDF), the United Nations […]
Aon report reveals economic toll of nat cat events in Asia
Total economic losses due to natural disasters totalled US$72 billion (SG$97.7 billion) in 2021, according to Aon’s 2021 Weather, Climate and Catastrophe Insight report. Following three years of economic losses exceeding US$100 billion, Asia’s figure dropped to US$72 billion in 2021. Insurance covered only 9% of economic losses in Asia, compared to 38% of the $343 […]
TWIA board votes for $2.04bn reinsurance & cat bond program for 2022
The Board of the Texas Windstorm Insurance Association (TWIA) has voted to adopt a multi-model view of risk for 2022, with its newly derived 1-in-100 year probable maximum loss driving a decision to secure a roughly $2.04 billion tower of reinsurance and catastrophe bonds for 2022. TWIA’s Board met yesterday to discuss the Association’s approach […]
Healthcare of Ontario Pension Plan (HOOPP) grows ILS allocation 31% in 2021
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via insurance-linked funds as well as […]
SEC’s climate risk disclosure rules to drive risk mgmt & transfer spend
As the US Securities & Exchange Commission (SEC) publishes a new set of proposed rules on climate risk disclosure, it’s becoming increasingly clear regulating for climate risk reporting is going to drive risk management and risk transfer spend, with ramifications and opportunity for insurance, reinsurance and insurance-linked securities (ILS). Yesterday, the SEC published its proposals, […]
Healthcare of Ontario Pension Plan (HOOPP) grows ILS allocation 31% in 2021
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via insurance-linked funds as well as […]
InsuResilience Solutions Fund supports climate risk insurance for family farms in Serbia and North Macedonia
Serbia and North Macedonia, two Balkan countries situated in Southeast Europe, are strongly affected by extreme weather events. Over the last years, excess rainfall, long-lasting precipitation periods and snowmelt have caused unprecedented floods. In May 2014, Serbia suffered the heaviest rainfall and worst flooding since records began 120 years ago, causing losses above USD 2 […]
Brazil publishes “Letra de Risco de Seguro” rules for ILS securitization
The Brazilian government has published new legislation in its official gazette for what are being termed “Letra de Risco de Seguro”, or LRS and translates to Letter of Insurance Risk, which are insurance-linked securities (ILS) laws, as the country looks to encourage risk transfer and reinsurance to the capital markets. We’ve explained before that Brazil’s […]
NCIUA to close Cape Lookout Re 2022 cat bond at $330m in size
The North Carolina Insurance Underwriting Association (NCIUA) just missed the revised upper-end target for its new Cape Lookout Re Ltd. (Series 2022-1) catastrophe bond issuance, with the deal eventually pricing to offer the insurance pool $330 million of reinsurance protection. At launch, the NCIUA was seeking $300 million or more in collateralized reinsurance protection from the […]