Galapagos Capital gets SUSEP authorisation for SSPE structure to issue ILS in Brazil
Galapagos Capital has now received the expected official authorisation from Brazil’s insurance regulator SUSEP to establish its own Sociedades Seguradoras de Propósito Específico (SSPE), a special purpose reinsurance vehicle that can issue Letra de Risco de Seguro (Insurance Risk Letters), which are insurance-linked securities (ILS). The move puts Galapagos Capital on track to achieve its […]
European System for Natural Catastrophe Risk Management & Re/Insurance
FULL ORIGINAL PUBLICATION HERE
Paying for the climate crisis: how to stop debt following disasters in low-income countries
Pre-arranged financing helps nations to prepare and recover faster from hurricanes, heatwaves, cyclones and other catastrophic weather events – but more needs to be done to improve access and affordability. FULL ORIGINAL PUBLICATION HERE
ECB, EIOPA propose EU nat cat reinsurance solution, with catastrophe bond support
A proposal published by the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) calls for a natural catastrophe insurance system that includes pooling private risks, strengthening disaster risk management, and the use of catastrophe bonds to support catastrophe reinsurance availability for Europe. It follows a discussion paper from 2023 that called for […]
Critical role of risk financing and insurance in disaster response: Bavandi, Gallagher Re
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from COP 29 in Baku. He noted that effective private-sector strategies include risk pooling, public-private partnerships, parametric insurance, and catastrophe bonds. […]
Lloyd’s human pandemic scenario reveals potential global economic loss of $13.6trn
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has today published its latest systemic risk scenario highlighting that the global economy could be exposed to potential losses of $13.6 trillion USD over a five-year period from the threat of a hypothetical future human pandemic. The global economic losses across the three severity levels modelled […]
CCRIF pays $4.67m to Honduras under parametric excess rainfall insurance
The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has made a payout of US $4.67 million to the Government of Honduras after its parametric excess rainfall insurance policy was triggered following a severe event in November, taking CCRIF parametric payouts made for the current policy year to almost US $118 million. […]
Cat bonds have emerged as a socially responsible investment: Man Group
The stable return profile of catastrophe bonds and their historically low correlation with broader financial markets have traditionally been the main reasons investors considered an allocation of cat bonds into their portfolio, however, more recently, investors have started recognising catastrophe bonds for their social impact, as per a new report from the Man Group. According […]
China financial regulator continues to promote Hong Kong for catastrophe bonds
China’s National Financial Regulatory Administration (NFRA), the financial industry regulatory agency under the State Council of the People’s Republic, is continuing to promote Hong Kong as a venue for insurers and reinsurers to sponsor catastrophe bonds. Speaking at a conference in Hong Kong this week, Li Yunze, the Chairman of the National Financial Regulatory Administration […]
Schroders Capital invested $817m+ in ILS that help reduce protection gap in 2023
During the full-year 2023, the catastrophe bond and insurance-linked securities (ILS) team at private markets focused investment manager Schroders Capital allocated over US $817 million to transactions that specifically help in reducing the insurance protection gap. Schroders Capital has quantified this area of impact that its cat bond and ILS investment management unit has been […]