30+ humanitarian relief cat bonds in pipeline: Howden
A year ago, a unique cat bond that melded volcano risk and humanitarian relief was a headline-grabbing unique deal. David Howden, one of its architects, claims as many as 30 more deals are in a very robust pipeline. In March 2021 Howden Group, via its charitable foundation the Howden Foundation, was instrumental in arranging a […]
Cat bonds for recovery highlighted by Caribbean Development Bank
Catastrophe bonds and parametric insurance have both been highlighted by the President of the Caribbean Development Bank (CDB) in a speech laying out priorities for 2022 and a plan for marshalling financing to support regional economies. The Caribbean Development Bank (CDB) is designing a “financing ecosystem” through which it aims to support the regions economies […]
Our alumni became General Counsel & Head of Legal – North America at AGCS
We are delighted to announce that William F. Fawcett, who is our alumni from September 2021 cohort and actually the first student who enrolled into the course has become General Counsel & Head of Legal – North America at Allianz Global Corporate & Specialty. Many congratulations, Will! * * * William’s testimonial about the course: […]
FEMA targets $325m fifth FloodSmart Re NFIP catastrophe bond
The U.S. Federal Emergency Management Agency (FEMA) is back in the catastrophe bond market again, seeking to secure at least $325 million of additional reinsurance protection for its National Flood Insurance Program (NFIP) through a FloodSmart Re Ltd. (Series 2022-1) issuance, which will be FEMA’s fifth cat bond. We explained back last July that FEMA was exploring […]
ILS margin expansion & growth opportunities in a firming reinsurance market
One of the themes coming out of this results season, as re/insurers announce their fourth-quarter and full-year 2021 earnings, is a growing confidence in the ability to expand margins and secure further growth, in a firming reinsurance marketplace. Analysts are becoming increasingly positive with each report they publish and importantly the majority expect underlying margins […]
Catastrophe bond rates turn neutral to close 2021: Lane Financial
Having forecast that the catastrophe bond market could turn neutral towards the end of 2021 earlier this year, the latest data from Lane Financial shows that rate trajectory did pull-back in the final quarter of the year, with the year ending in relatively muted fashion. What was a hard market in catastrophe bonds and insurance-linked […]
Recent catastrophes open value in insurance-linked strategies: Neuberger Berman
Senior executives at investment specialist Neuberger Berman have highlighted insurance-linked securities (ILS) as an alternative asset class that should be particularly attractive to investors at this time. In an annual update to help guide clients investment decisions into 2022, Neuberger Berman’s top leadership team discussed the trends that are driving investors to alternative asset classes […]
Swiss Re grows ILS AuM to $3.2bn, expands PGGM & Sector sidecars: Interview
Swiss Re continued to expand its alternative reinsurance capital assets under management across the range of insurance-linked securities (ILS) structures it manages for 2022, with notable successes in growing sidecar commitments for its PGGM-backed vehicle and its multi-investor Sector Re sidecar. Artemis spoke with Judy Klugman, Global Head of ILS Sales (based in New York), […]
Philippines cat bond payout a “tangible result”, says Finance Secretary
The triggering and impending $52.5 million payout of the Philippines catastrophe bond by recent typhoon Rai (known in the Philippines as Odette), demonstrates a “tangible result” of the country’s disaster risk financing work, according to its Finance Secretary. Artemis was first to report yesterday that the Philippines government will make a $52.5 million recovery under the […]
A protection & innovation gap, just 38% of cat losses insured: Aon’s Eric Andersen
Global economic losses from natural catastrophes reached $343 billion in 2021, but only $130 billion of the total was covered by insurance or reinsurance, which Aon’s President Eric Andersen said demonstrates both a protection and an innovation gap, when it comes to climate risk. At $130 billion, Aon’s estimate of global insured catastrophe losses for […]