State Farm gets $500m reinsurance with new Merna Re II cat bonds
US primary insurance giant State Farm has returned to the catastrophe bond market and secured $500 million of US property catastrophe reinsurance protection from two series of Merna Re II cat bond notes, with a $200 million Merna Re II Ltd. (Series 2022-2) and $300 million Merna Re II Ltd. (Series 2022-3) issuances. State Farm continues to put […]
China’s yuan and the Japanese yen “most vulnerable to climate change” – Barclays
China’s yuan and the Japanese yen are the currencies most vulnerable to climate change, according to a new report by Barclays. The bank looked at the effects of climate change on exchange rates, saying rising temperatures and associated economic costs could tank the value of the Chinese yuan and Japanese yen over 50% by 2070. The […]
ESG policies becoming critical in private capital markets
Investment funds in the private capital markets sector increasingly need to be seen to be quickly moving towards, or having already implemented, a rigorous environmental, social and governance (ESG) policy, or they could risk falling outside of many institutional investor’s consideration. Environmental, social, governance (ESG) considerations are becoming a significant part of the investor side […]
Afghanistan: Earthquake – Jun 2022
According to the World Health Organization (WHO), after the 5.9 M earthquake occurred on 21 June in Spera District (Khost Province, eastern Afghanistan), 1,039 people have died, 2,949 people have been injured and 4,500 houses have been partially or fully damaged across Paktika and Khost Provinces. The most affected Districts are Giyan, Barmal, and Ziruk […]
Index-based risk transfer essential to key societal issues: Speedwell Climate
Index-based risk transfer has a key societal role to play, in providing protection to support issues such as the renewable energy transition, covering extreme weather catastrophe events, and helping support access to scarce resources, newly renamed Speedwell Climate has said. Speedwell Weather Ltd. and its associated companies have been serving the need of parametric, or […]
CNN: Hundreds of thousands affected by floods, landslides as heaviest rain in 60 years hits southern China
(CNN) Almost half a million people have been affected by floods and landslides in the Chinese province of Guangdong, according to authorities, after parts of southern China were hit by the heaviest downpours in 60 years over the weekend. Flooding caused by the torrential rain has forced 177,600 people to relocate, destroyed 1,729 houses, damaged 27.13 […]
One Concern & WTW team to accelerate adoption of parametric insurance
One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, and broker plus advisor WTW, have teamed up with a goal to accelerate the adoption of parametric insurance solutions. As we’ve explained before, One Concern provides climate related analytics, but with a unique […]
Zambia’s ARC parametric drought insurance to payout US $5.3m
The African Risk Capacity (ARC) has paid out and already disbursed US $5.3 million to the Government of Zambia after the African nations parametric drought insurance coverage was triggered. A symbolic US $5.3 million cheque was presented to the Zambian Government by representatives of the African Risk Capacity Group and the African Development Bank, with […]
10th OECD/ADB Asian Regional Roundtable on Macroeconomic and Structural Policies
Description The OECD-AMRO-ADB/ADBI-ERIA Asian Regional Roundtable convenes leading experts to discuss issues at the fore of recent economic developments in the region. Previous roundtables were held in Singapore, Manila, Tokyo, Jakarta, and most recently virtually due to the COVID-19 pandemic. Recent topics have included US spillovers to Asian economies, financial reform and financial inclusion, digital […]
ILS helps Hong Kong’s financial market diversify: Paul Chan
The passage of insurance-linked securities (ILS) legislation and now the successful issuance of a second catastrophe bond in the country, helps Hong Kong as it continues on its mission to further diversify its financial market and services sectors, according to Financial Secretary Paul Chan. With the recent completion of Hong Kong headquartered reinsurance firm Peak […]