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 […]
Barbados embeds parametric nat cat clause in sovereign bond issue
The Caribbean island nation of Barbados is one of the first in the world we’ve heard of to embed a parametric natural catastrophe event trigger within a sovereign bond issuance, with the occurrence of a natural disaster able to trigger a deferral of payments to holders of the dollar-denominated bond. Interestingly, Barbados has elected to […]
Hong Kong to step up ILS ecosystem promotional efforts
Hong Kong’s Insurance Authority (IA) is set to increase its efforts to promote its nascent insurance-linked securities (ILS) framework and attract more catastrophe bond or ILS issuance activity to the country. The Insurance Authority (IA) has been promoting Hong Kong’s ILS framework for a number of years now, with two catastrophe bonds issued there so […]
In a turbulent world, we must securitize resilience: UNDP’s Kellett & Stander
Given the challenges faced in an increasingly volatile and turbulent world, insurance and risk finance are key tools that can help to shift the balance of risk, while insurance-linked securities (ILS) can “securitize resilience”, according to United Nations Development Programme (UNDP) representatives. The UNDP published its Human Development Report today, with social insurance against future […]