Only scratching surface with respect to cat bonds: World Bank Treasurer
When it comes to the use of catastrophe bonds in disaster risk financing, so far we’re only “scratching the surface”, in terms of what can be done using the cat bond structure, according to Jorge Familiar, Vice President and Treasurer of the World Bank. Jorge Familiar has worked at the World Bank for over 16 […]
Parametric insurance gains momentum in Africa, but more to do: ARC’s Ndlovu
Parametric insurance products are slowly gaining momentum in Africa, but according to Lesley Ndlovu, CEO of the African Risk Capacity (ARC) Group’s insurer, Arc Ltd., more countries need to embrace parametric risk transfer, especially as Africa tries to fight the effects of climate change. ARC Ltd. now provides parametric insurance to 35 sovereign member states […]
Only scratching surface with respect to cat bonds: World Bank Treasurer
When it comes to the use of catastrophe bonds in disaster risk financing, so far we’re only “scratching the surface”, in terms of what can be done using the cat bond structure, according to Jorge Familiar, Vice President and Treasurer of the World Bank. Jorge Familiar has worked at the World Bank for over 16 […]
CCRIF made $15.2m in parametric payouts through 2022 hurricane season
The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has made US $15.2 million in pay-outs to members after hydro-meteorological events that took place during the 2022 hurricane season. While there were no payouts after hurricane Ian, the most impactful event to the insurance, reinsurance and insurance-linked securities (ILS) industry of this […]
Cat bond investment yields to stay at record levels: Twelve Capital’s Steiger
After hurricane Ian, it’s likely spread widening already seen in the catastrophe bond market only gets wider, which means, alongside rising risk-free returns, cat bond investment yields are set to stay at record levels, Florian Steiger of Twelve Capital has said. In fact, with insurance-linked securities (ILS) market and wider reinsurance market capital set to […]
Cat bond investment yields to stay at record levels: Twelve Capital’s Steiger
After hurricane Ian, it’s likely spread widening already seen in the catastrophe bond market only gets wider, which means, alongside rising risk-free returns, cat bond investment yields are set to stay at record levels, Florian Steiger of Twelve Capital has said. In fact, with insurance-linked securities (ILS) market and wider reinsurance market capital set to […]
World Bank leadership put catastrophe bonds back in the spotlight
While the World Bank has been a key driving force in the catastrophe bond market for many years, of late its senior leadership has been relatively quiet about the use of cat bonds as a key disaster risk financing and risk transfer option for its sovereign client-base. So it’s pleasing to note that catastrophe bonds […]
Indian regulator considers revision to GIC Re preference rules
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed revisions to the country’s rules for the order of preference on reinsurance business, which could see alterations to GIC Re’s right to first refusal. A new exposure draft detailing the amendments to regulations under consideration shows that IRDAI is looking to remove the order […]
China general insurance market to reach $304.4bn in 2026: GlobalData
According to GlobalData, the Chinese general insurance market is set to grow at a compound annual growth rate (CAGR) of 7.2% from CNY1,367.7bn ($212.1bn) in 2021 to CNY1,943.1bn ($304.4bn) in 2026, in terms of direct written premiums (DWP). Despite registering a low growth of 0.7% in 2021 due to a decline in motor insurance, GlobalData […]
When it comes to ESG, governance should be a given in ILS: Albertini
For the insurance-linked securities (ILS) market, the ‘G’, or governance, within ESG, should always have been a given, as the industry needs to have strong governance around its underwriting practices, Luca Albertini, CEO of Leadenhall Capital Partners explained to Artemis. ESG, or environmental, social and governance has become one of the hottest topics in the […]