Pakistan minister cites catastrophe bonds as workable climate finance solution
At a recent climate finance focused event, Pakistan’s Minister for Climate Change, Sherry Rehman, called on international governments to place climate finance and losses at the heart of COP 27 talks next year, with catastrophe bonds one instrument seen as having a role. Loss and damage has been a key sticking point in climate talks […]
Asia Insurance Review: Hybrid solutions for China’s natural catastrophes
Even as countries across the globe grapple with climate change, alternate risk transfer mechanisms like parametric solutions are emerging as the best option. Phoenix CRetro Reinsurance’s Mr Kirill Savrassov and Tenax Capital’s Mr Toby Pughe spoke with Asia Insurance Review. By Anoop Khanna According to a PwC report published in May 2022, the insurance protection gap could reach $1.86tn by 2025 and […]
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 […]
Climate change a far greater threat to global economy than Covid-19 pandemic amid rising intensity of heatwaves and floods, Swiss Re says
Climate change poses a bigger risk to long-term global economic growth than the ongoing Covid-19 pandemic, according to Swiss Re. The world just had the third warmest June on record last month, with the average temperature 0.32 degrees Celsius higher than the average for the month in the three decades to 2020, according to Europe’s […]
Swiss ILS fund ESG initiative can drive desired change: Piemonte, BKC
The environmental, social and governance (ESG) transparency initiative being undertaken by a leading group of Swiss-based insurance-linked securities (ILS) investment fund managers, has the potential to drive the desired change investors such as the Bank für Kirche und Caritas have been looking for, according to Tommy Piemonte. Piemonte is the Head of Sustainable Investment Research at […]
Humanitarian insurance – ethical tightropes, trade-offs and unintended consequences
Insurance can be a useful tool for managing the unpredictable costs of disasters. This seems a good fit for a sector whose core business is responding to the human impacts of disasters, and often struggles to find the resources to meet unexpected peaks in demand. But humanitarians have a number of particularities linked to their […]
Disaster Risk Financing could help to mitigate climate risk in Africa
Only three percent of losses caused by drought, floods and tropical cyclones have been insured on the African continent. This emerged at a recent DZ BANK Capital Markets Conference held in Berlin. Insured losses on the African continent are close to 97 percent, which means, at best, only three percent of losses caused by drought, floods […]
Swiss ILS fund managers collaborating on ESG transparency
Artemis has learned that a group of Switzerland-based insurance-linked securities (ILS) investment fund managers have been collaborating to develop a data transparency proposal to help enhance environmental, social and governance (ESG) in the ILS market. After what we understand to be a few months of work, an initial ESG data request file template has now […]
London workshop with Twelve Capital and African Risk Capacity
Climate change leads to a larger protection gap of which 96% is in the developing world* Twelve Capital held a workshop with high calibre market players to discuss how natural catastrophe risks can be transferred to financial markets for disaster relief in emerging markets. Against the backdrop of Impact Investing some highlights covered were: – […]
ESG policies becoming critical in private capital markets
Investment funds in the private capital markets sector increasingly need to be seen to be quickly moving towards, or having already implemented, a rigorous environmental, social and governance (ESG) policy, or they could risk falling outside of many institutional investor’s consideration. Environmental, social, governance (ESG) considerations are becoming a significant part of the investor side […]
