World Bank confirms signing of Nepal quake catastrophe bond mandate
The World Bank has now confirmed that it has partnered with Nepal to explore the issuance of a parametric earthquake catastrophe bond for the country. The World Bank confirmed that it and Nepal have signed a mandate agreement to explore the development of a catastrophe bond, which would be designed to enable Nepal to access […]
Nepal government approves World Bank earthquake cat bond mandate agreement
According to reports from Nepalese news sources, the country’s government Council of Ministers has approved signing a Mandate Agreement for the Nepal Earthquake Catastrophe Bond project with the World Bank. Back in July, we reported that the World Bank had begun working on a proposed project to deliver a parametric earthquake catastrophe bond for Nepal, […]
PICC P&C’s new Great Wall Re catastrophe bond said to be a $12m issuance
We’ve learned that the new Great Wall Re Limited catastrophe bond issuance is $12 million in size, so presumably will provide an equivalent amount of capital markets backed reinsurance to the sponsoring Chinese domestic insurer, PICC Property and Casualty Company Limited. On Monday we revealed that PICC Property and Casualty Company Limited appeared to have […]
PICC P&C appears to have returned for its second Great Wall Re catastrophe bond
Chinese domestic insurer PICC Property and Casualty Company Limited seems to have returned to sponsor its second catastrophe bond using its Hong Kong domiciled special purpose insurer Great Wall Re Limited, as information of a new tranche of notes has appeared albeit with very limited details available at this time. According to securities market data […]
APAC ILS and parametric markets poised for growth as capital needs shift: Marsh Re’s Gallagher
While both the insurance-linked securities (ILS) and parametric markets remain nascent in parts of Asia-Pacific compared to other regions, the potential to expand is clear, leading broker Marsh Re’s APAC Chief Executive Officer (CEO), Tony Gallagher, to forecast that these markets will build out. Speaking to Artemis at this year’s Rendez-Vous de Septembre in Monte […]
Micro-catastrophe bonds show growing potential for use in disaster risk financing: OECD
A trend towards smaller catastrophe bond issues becoming more feasible as market infrastructure improves has been highlighted by the Organisation for Economic Co-operation and Development (OECD), who suggest that what they term micro-catastrophe bonds have relevant application in disaster risk financing initiatives. A policy brief authored by Kensuke Molnar-Tanaka and Prasiwi Ibrahim of the OECD […]
Re/insurers unable to close nat cat protection gap alone, says Moody’s
A new Moody’s report emphasises that the protection gap in natural catastrophe losses cannot be closed by property and casualty (P&C) insurers and reinsurers alone, with more than 50% of these losses uninsured in 2025. The report finds that since 2015, 57.8% of catastrophe losses have gone uninsured, while the damages from nat cats has […]
ILS can play a broader role in narrowing the global protection gap: Moody’s
As the severity and frequency of natural catastrophe events continue to grow, addressing the protection gap remains an important focus, which has led Moody’s to call out that scaling the capital markets and tapping into the insurance-linked securities market can help narrow the gap as it continues to grow. In a recent article published by […]
ILS complementary for transferring, funding risks of large infrastructure projects: Singapore’s MAS
Insurance-linked securities such as catastrophe bonds are seen as a complementary mechanism to help provide the necessary capital to transfer and fund the risks of large infrastructure projects in Asia, according to Lim Cheng Khai of the Monetary Authority of Singapore (MAS). Speaking at International Association of Engineering Insurers annual conference in Singapore earlier today, […]
Hong Kong targets PCC structure for efficient ILS issuance, wants to invigorate ILS investment
Hong Kong’s new five-year plan highlights insurance-linked securities business and the ongoing development of its ILS regulatory regime as key strategic goals, with a PCC structure being explored for more cost-efficient ILS and catastrophe bond issuance, as well as ways to invigorate the investor side as well. The inaugural Five-Year Plan of the Hong Kong […]