Alternative capital’s resilience will be tested (again) by hurricane Ian: S&P
Alternative capital investors are about to have their resilience tested again, according to S&P Global Ratings, who said that although it is too early to have an accurate quantification of industry losses from hurricane Ian, it’s clear this is a major event for the reinsurance and ILS sector. With each day more information emerges showing […]
AM Best flags uncertainties for Sub-Saharan reinsurance market
Analysts at AM Best have flagged a host of uncertainties that may impede the near-term prospects of the reinsurance market in Sub-Saharan Africa (SSA), despite its significant expansion over the past decade. The rating agency notes that gross written premium in the SSA reinsurance market has grown at a 10-year compound annual growth rate of […]
Well over $1bn of cat bond mark-downs expected after hurricane Ian
We asked our insurance-linked securities (ILS) focused readers for their thoughts as to how large the Hurricane Ian mark-to-market implied loss to catastrophe bonds could be, when pricing sheets were marked on Friday. The resounding answer was that “more than $1 billion” of mark-downs in value were expected across the catastrophe bond market, while a […]
Swiss Re cat bond index plummets on Hurricane Ian. US Wind down 32%
The catastrophe bond market index calculated by Swiss Re Capital Markets, the insurance-linked securities (ILS) specialist arm of the global reinsurance firm, plummeted when priced on Friday, due to the potential impacts and losses cat bonds face after Hurricane Ian. Swiss Re Capital Markets has been tracking catastrophe bond market performance with its cat bond […]
Insurers expect minimal losses from Mexico’s September earthquakes
Ratings agency AM Best does not expect claims activity to increase significantly owing to the recent earthquakes that hit Mexico in September, as few minor damages have been reported and are unlikely to result in large insurance losses. The 7.7° magnitude shake on September 19 and one 6.9° on September 22 hit the Latin American […]
Building resilience to climate change is of paramount importance in Africa: ARC
Ahead of COP27, the African Risk Capacity (ARC) outlines the importance of parametric insurance on the African continent, highlighting the need for further collaboration with more developed nations. ARC provides parametric insurance services to African Union member states and farmer organisations to pool disaster-related risk across Africa and transfer it to international risk markets. Since […]
Bloomberg: Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders
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Philippines cat bond “likely to default” on typhoon Noru impact: Plenum
The Philippines World Bank facilitated catastrophe bond is deemed “likely to default” after the landfall and impacts of super typhoon Noru, according to investment fund manager Plenum Investments. We reported yesterday that the Philippines World Bank issued IBRD CAR 123-124 catastrophe bond should be considered at-risk, after typhoon Noru (Karding as it’s locally known) underwent rapid intensification to […]
Summer 2022 cohort of our course has passed the qualification exam
Our sincere congratulations to the 4th cohort: Timothy Nielander, Shib Shankar Saha, Suguru Fujita, Richard Griffiths, Dewald Cillie, on obtaining “Certified ILS specialist” qualification with impressive average pass ratio of 92% at the exam. Kirill & Toby
Super typhoon Noru a potential threat to Philippines catastrophe bond
In the space of just 24 hours, typhoon Noru has explosively intensified into super typhoon Noru as it approaches the Philippines and now packing sustained winds of more than 150 mph the storm is a potential threat to the countries World Bank facilitated catastrophe bond. Meteorologists have been surprised by super typhoon Noru, which is […]