Alternative capital raises accelerate to ~$11bn YTD, says Berenberg
Having only a few weeks ago estimated that as much as $8 billion of alternative reinsurance and insurance-linked securities (ILS) capital had been raised year-to-date, analysts from investment bank Berenberg have now upped that amount to ~$11 billion. As a result, the analysts now believe that alternative and ILS capital flows into the insurance and […]
ILS funds delivering decadal high (and more) returns YTD in 2023
Numerous insurance-linked securities (ILS) fund strategies have delivered decadal high returns, at least, so far in 2023, as the higher reinsurance rate environment and elevated spreads for instruments like catastrophe bonds boost their performance. While ILS fund performance has struggled in many cases over the last five or so years, 2023 is turning into a […]
World Bank to build on catastrophe insurance solutions such as cat bonds
The World Bank Group said today that it intends to build on its already available catastrophe insurance solutions, such as catastrophe bonds, to make access to disaster risk financing without adding debt a reality for member countries. In announcing a new and comprehensive toolkit focused on supporting countries after natural disasters, the World Bank highlights […]
Marsh McLennan to help Ukraine access global insurance market
Re/insurance brokerage, Marsh McLennan, has announced it will work with the Ukrainian government to help it unlock access to the global insurance market. As part of the support, the broker said it will provide services on a pro-bono basis to design and deliver a risk data platform that will allow insurers to assess and underwrite […]
Jamaica to renew catastrophe bond. Seeing interest in regional cat bond: Report
The Finance Minister of Jamaica Nigel Clarke has told Reuters that his country intends to renew its catastrophe bond coverage when it reaches maturity at the end of this year and will do so as a stand-alone cat bond for Jamaica, or as a regional Caribbean wide one if others want to participate. As we’ve […]
Reask plans US and model coverage expansion, additional funding raised
Reask, a tech company that provides catastrophe modelling, climate analytics and data using machine learning techniques and artificial intelligence, is set to expand to the United States and will use the now $6.55 million seed funding it has accumulated, as it looks to expand its extreme weather modelling services. Reask has raised another $4.6 million […]
Tight cat bond capacity drove simultaneous issuance of Chile cat swaps: World Bank
The fact capacity and capital was tight in the catastrophe bond market at the time of the issuance of the $350 million of IBRD – Chile 2023 cat bond notes drove the World Bank team to look to traditional re/insurers and the issuance of simultaneous catastrophe swaps, resulting in much stronger execution for Chile. Back in […]
Global Shield Solutions Platform launched as financing vehicle to address climate change
The Global Shield Solutions Platform (GSSP), a new multi-donor grant facility and one of the core financing vehicles of the Global Shield, has officially been launched to help vulnerable countries effectively address loss and damage exacerbated by climate change. Launched at the InsuResilience Global Partnership Annual Forum on June 9th, held at the Gustav-Stresemann-Institute in […]
Star Group weather derivative pays out again on warm 2023 winter
US energy company Star Group (formerly Star Gas Partners) has benefitted from its weather derivative arrangements again in the first-quarter of 2023, recording a full recovery under the terms of the degree day contract it has in place. Star Group has been utilising weather derivatives to hedge risk for well over a decade, benefiting from […]
Climate Resilient Development Bond (CRD Bond) proposed with ILS design
A new financial structure that can provide community-based climate insurance or risk transfer protection from the capital markets, while incorporating resilience, advanced funding for loss-prevention and mitigation, through an insurance-linked security (ILS) designed structure has been proposed. Reinsurance broker Guy Carpenter has collaborated with Dr Franziska Arnold-Dwyer from Queen Mary University of London to produce […]