Parametric insurance can help close US $1.8tn protection gap: Generali and UNDP
A joint report published by insurance giant Generali and the United Nations Development Programme (UNDP) highlights parametric risk transfer and insurance as a key solution that can help to close the US $1.8 trillion protection gap. “Parametric insurance is speeding up recovery from climate-related hazards and other shock events, especially for communities in vulnerable contexts,” […]
The Price of Natural Catastrophes in Africa: Insights into the most recent Catastrophe Losses
From January to June, the global average temperature was roughly 1.5°C higher than the pre-industrial level. Not only were average temperatures unusually high nearly everywhere in the world in the first half-year; record-breaking highs were also reported around the globe. The recent losses caused by natural disasters in Africa underscore the need for the insurance […]
China Officially Joins the Middle Corridor
It was announced during the 8th International Silk Road Expo in Xi’an in September 2024 that China will formally join the Middle Corridor under the guise of participation by the China Railway Container Transport Corporation (CRTC). This move signals a growing reliance on Central Asia’s trade-route infrastructure potential. China’s shift to overland routes is part of […]
China’s State Council sees cat bonds as measure to strengthen insurance system
China is aiming to strengthen its insurance system, with a particular focus on the impacts of weather and natural disasters and its State Council, a key ruling body, has cited catastrophe bonds again, as one measure that can assist. Over the years, China’s State Council has repeatedly cited innovative risk transfer, alternative reinsurance capital and […]
Mexico parametric cat bond safe from hurricane John’s 120mph landfall
While the focus for many is on what is still potential tropical cyclone nine and soon to become storm Helene on the Atlantic side, off the Pacific coast of Mexico hurricane John rapidly intensified and made landfall as a Category 3 storm which has resulted in enquiries from catastrophe bond investors. As said, most of the […]
Central Europe floods could drive insured losses up to $3.3bn, says Gallagher Re
Insured losses from the recent severe floods that struck central Europe, which mainly occurred from September 12-15 are likely to range between EUR 2.0 – 3.0 billion (USD 2.2 – 3.3 billion), according to estimates from reinsurance broker Gallagher Re. A slow-moving low-pressure system caused continuous rainfall across central Europe, leading to severe and costly […]
More Australian pensions deploy to ILS. Rest Super picks Twelve for cat bonds
More Australian pension super funds have begun allocating to insurance-linked securities (ILS), according to Bloomberg, as the publisher names Rest Super and Host Plus as allocating to the space. Artemis has learned that Rest Super has invested with manager Twelve Capital for catastrophe bonds. Rest Super is a pension and retirement super fund with around […]
Cat bonds and sidecars to see biggest increases in demand over next year: Moody’s
Over the next year, reinsurance buyers have expressed a strong preference for catastrophe bonds when it comes to utilising alternative capital, while sidecars are also expected to see much more elevated demand, the latest survey by Moody’s Ratings shows. Each year just in advance of the Monte Carlo Rendez-Vous event, Moody’s Ratings surveys reinsurance buyers […]
Strong alternative capital supply growth expected in 2025 for cat bonds and ILS: Fitch
Unless there are “substantial” losses to insurance-linked securities (ILS) from catastrophe events in the second-half of 2024, Fitch Ratings said it expects “continued strong supply growth in the alternative reinsurance capital market into 2025.” Fitch Ratings said that returns in catastrophe bonds and other insurance-linked securities (ILS) remain attractive, which has helped to elevate and […]
Jamaica’s Dr. Nigel Clarke proposed as IMF Deputy Managing Director
Dr. Nigel Clarke, the Minister of Finance of Jamaica and the driver of that country’s multi-layered approach to disaster risk financing that includes the first catastrophe bond for a small-island state has been proposed to become a Deputy Managing Director of the International Monetary Fund (IMF). Kristalina Georgieva, Managing Director of the IMF, announced her […]