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 […]
PRA looks to evolve UK ILS regime, after challenging start: Sweeney
The UK’s top regulator recognises that the insurance-linked securities (ILS) regime in the country has faced challenges since its launch and wants to evolve the system to make for swifter and easier issuance conditions, to attract more ILS and catastrophe bond activity to be transacted there. This is according to senior executives of the United […]
Drought-affected Mali to benefit from $7.1m ARC replica payout via the WFP
More than 204,000 people in drought-affected parts of Mali are set to benefit from a $7.1 million payout by the African Risk Capacity (ARC) to the United Nations World Food Program (WFP), an ARC replica technical partner which has been subscribing to the climate insurance policy in Mali since 2017. The ARC replica program was […]
New risks & differentiation attractive to ILS investors: Gallagher Re
While investor appetite for insurance-linked securities (ILS) has been tested by consecutive years of elevated catastrophe losses, the asset class still plays an important role for many allocators and there remains an appetite to invest in new classes of risk, while differentiation is also an important consideration. Reinsurance broker Gallagher Re highlighted these trends in […]
ILS can help London maintain cat portfolios as retreat continues
As many Lloyd’s and London market insurers retreat from the catastrophe space, amid elevated losses and the uncertain but increasing impacts of climate change, some underwriters could look to alternative reinsurance capital sources to help maintain their cat portfolios. Insurance and reinsurance broker Howden’s London Market Appetite survey, published today, shows that with the exception […]
Tomoni Re cat bond seeks $240m of cover for MS&AD insurers
A new catastrophe bond issuance has been launched to benefit two Japanese insurance carriers owned by MS&AD Insurance Group Holdings, with the Tomoni Re Pte Ltd. (Series 2022-1 & 2022-2) transaction aiming to secure the sponsors a multi-year source of collateralized Japanese typhoon and flood reinsurance protection. The ultimate beneficiaries of the reinsurance that the Tomoni […]
Relative value of ILS investing evident in 2021: Swiss Re
2021 saw the catastrophe bond market soften, with a trend towards tightening across most of the year, but differentiation remained, driven by investor appetites, but according to Swiss Re Capital Markets the relative value of the insurance-linked securities (ILS) asset class persists. As we explained yesterday, the end of the year saw cat bond investors […]
Congratulations to our alumni, co-founder of Reask, on winning Catastrophe risk modelling solution of the year by ERM
The winner of catastrophe risk modelling solution of the year has used cutting-edge technology to develop a novel technique that is showing potential to fill growing protection gaps against natural catastrophes. Metryc, a global tropical cyclone parametric calculation agent from risk modelling firm Reask, was launched in 2021 and already has clients. One of InsuranceERM‘s independent […]