RenRe grows Medici 25% in attractive cat bond market: CEO
For global reinsurance firm RenaissanceRe, the Medici catastrophe bond focused investment fund strategy has been one of its sources of growth in third-party capital assets under management in recent years, a trend that continued in 2022. Like many other managers of third-party reinsurance capital assets, or insurance-linked securities (ILS) strategies, RenaissanceRe saw outflows from some […]
Travelers pleased with execution of latest cat bond: CFO Frey
US property & casualty insurance giant The Travelers Companies was “pleased” with the reception its latest catastrophe bond received in the market, as it increased the amount of reinsurance cover it has from capital market cat bond investors during its latest renewal. Travelers secured $575 million of multi-year collateralized property catastrophe reinsurance with the Long […]
CCRIF parametric risk pool grows 10% to US $1.2bn at renewal
The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has expanded its risk pool by 10% year-on-year, as its member governments renewed $1.2 billion of parametric insurance coverage against catastrophe, climate and seismic perils. Parametric insurance cover has been renewed by Caribbean and Central American governments for tropical cyclones, excess rainfall and […]
Our alumni was elected to the Weather Risk Management Association (WRMA)
We are delighted to announce that Malvern Chirume, FCA, Cert ILS of African Risk Capacity Ltd. who is our alumni from December 2021 cohort, has been elected to the Weather Risk Management Association (WRMA) Board based in Minnesota, USA. This trade association represents weather risk management professionals worldwide and aims to to enhance public awareness […]
Cat bonds one of the most prominent innovations in sustainable finance: IMF
According to a staff climate paper published by the International Monetary Fund (IMF), catastrophe bonds are one of “the most prominent innovations in the field of sustainable finance in the last 15 years,” but the organisation believes more use of them is needed to cover burgeoning catastrophe and climate risks. Catastrophe bonds sit alongside green […]
Munich Re: Natural disaster review for first half of 2022
In the first half of 2022, natural disasters caused overall losses of US$ 65bn, with slightly more than half of these insured Extreme multi-day rainfall and severe flooding in Australia constituted the main loss burden for the insurance industry of at least US$ 3.7bn US once again country with highest weather-related losses Number of fatalities […]
Insurance bonds among best paying for yields, with significant upside: Twelve
Insurance bonds should not be ignored as a defensive investment opportunity with both yield and upside potential, according to Twelve Capital, with the manager believing that market dynamics have created a particularly attractive entry point for investors. With global financial and capital markets volatility continuing, inflation high, interest rates rising and a continued backdrop of […]
Cat models don’t properly reflect climate change: RenRe CEO O’Donnell
In comments made this afternoon during the second-quarter earnings call of Bermuda based reinsurance and third-party capital management specialist RenaissanceRe, the companies CEO Kevin O’Donnell said the catastrophe modelling vendors are failing to robustly capture the effects of climate change. O’Donnell’s comments suggest a lack of confidence in the commercially available vendor catastrophe models at […]
Most ILS funds interested in cyber risk as deal experience grows: PCS
The majority of insurance-linked securities (ILS) fund managers are interested in cyber re/insurance risk and are free from mandates prohibiting engagement, suggesting the ILS space is “quite ready to consume more cyber insurance risk,” according to Tom Johansmeyer, Head of PCS. A recent survey conducted by PCS, a Verisk business, sought to gauge ILS fund […]
Flood risk routinely underestimated, warns Marsh & McLennan Company (MMC)
Re/insurance broker Marsh McLennan has released its updated Flood Risk Index 2.0, which maps how a changing climate will shape flood risk in the future. The report warns that flooding is the most pervasive natural disaster, and yet its costs are routinely underestimated. And now, climate change, economic and demographic trends, and a chronic shortfall […]