Greater Bay Re registered for China Re cat bond in Hong Kong

We’ve learned that the first company destined to be an insurance-linked securities (ILS) special purpose vehicle has already been registered in Hong Kong, with Greater Bay Re Limited established to issue a catastrophe bond on behalf of China Re, sources told us. It’s an important sign of the state of readiness of Hong Kong’s legislative and […]

Weather disasters displace more people than any other factor globally in 2020

A new report shows that weather related disasters were the primary driver of displaced people in 2020, with almost three-quarters of people internally displaced affected by weather, with storms and flooding the primary peril drivers of this. In 2020 alone, some 40.5 million people were internally displaced within their own countries, with conflict and violence […]

Generali hails completion of the first green catastrophe bond

Italian and global insurance giant Assicurazioni Generali S.p.A. has hailed the successful completion of its first green catastrophe bond issuance, the EUR 200 million Lion III Re DAC transaction. The deal was launched to the cat bond investor community earlier this month, and benefiting from strong investor demand Generali secured it at attractive pricing, as we’d previously […]

Hong Kong publishes special purpose insurer (SPI) application guidelines

The Hong Kong Insurance Authority has today published guidelines related to its new insurance-linked securities (ILS) regulatory framework in the Government Gazette, with details on applications to establish special purpose insurers (SPI) in the domicile now finalised. Hong Kong’s “Guideline on Application for Authorization to Carry On Special Purpose Business (GL 33)” is a comprehensive document […]

World Bank climate change plan highlights cat bonds & risk transfer

This week, the World Bank Group announced its new Climate Change Action Plan, with a range of commitments to ramp up and deliver record levels of climate finance, while catastrophe bonds, disaster risk financing and insurance against climate risk are also mentioned Through its new Climate Change Action Plan, the World Bank is targeting the […]

Cat bond activity may give multi-strategy funds room to expand

The acceleration of activity in the global catastrophe bond market over the last few months could now drive an opportunity for a number of multi-strategy investment funds to expand, as the availability of paper has increased even causing some investment managers to lift the shutters on closed funds, we understand. Which could drive more capital […]

UCITS cat bond funds growing fast. Schroders overtakes GAM as largest

UCITS catastrophe bond funds as a group have increased their assets significantly over the last year, with accelerated growth of the cat bond market and rising interest in ILS investments helping to propel the UCITS cat bond funds we track to asset growth of roughly 58% in just one year. Over that period, first place […]

Hong Kong ILS enquiries already received from potential sponsors

It increasingly looks like Hong Kong could break into the insurance-linked securities (ILS) market before too much longer, as with details of its ILS grant pilot now available, one local law firm said it is already receiving enquiries from potential sponsors. Back in February, Paul Chan, the Financial Secretary of Hong Kong, revealed plans for […]

Insurance Europe outlines “vital” need to remove key re/insurance access barriers

Insurance Europe has underlined the importance of removing market access barriers between European re/insurers and the countries Argentina, Brazil, Canada, India and Indonesia. The governing body believes this action is needed to help reduce protection gaps and avoid dangerous concentrations of risk in these jurisdictions. Furthermore, avoiding a build-up of climate-related risks in any one […]

Franklin Templeton launches UCITS cat bond fund, managed by K2’s Malawer

Investment manager Franklin Templeton has launched a new UCITS catastrophe bond fund, which is portfolio managed by Jonathan Malawer from its hedge fund specialist manager arm K2 Advisors. The Franklin K2 Cat Bond UCITS Fund is a Luxembourg based fund and part of the Franklin Templeton Alternatives Funds offering from the investment manager. The new […]