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Cyber catastrophe bond market – room for growth is considerable: Howden

There is “considerable” room for growth in the cyber catastrophe bond market, as cyber insurers and reinsurers get increasingly comfortable with event-based excess-of-loss coverage options and use of quota shares in the cyber reinsurance space reduces, broking group Howden has said. Commenting on the growing cyber insurance market, Howden noted that prospects look strong, helped […]

Catastrophe bond market yield rose in June, ends month at 13.7%

The overall yield of the catastrophe bond market in US dollars rose slightly through June and ended the month at just under 13.7%, reaching levels last seen in August 2023. A consistent trend of spread tightening in the catastrophe bond market had driven yields down into and through the first-quarter of this year. That led […]

World Bank has now facilitated over US $4.8bn in catastrophe bonds

The World Bank has now facilitated and issued over US $4.8 billion in catastrophe bonds across 17 transactions we have covered over the years, with $745 million issued over the course of just a few weeks in 2024 to support Mexico and Jamaica’s disaster risk transfer and financing needs. The most recent catastrophe bonds from […]

Alternative capital hits $110bn mid-year high as reinsurance grows in 2024: Aon

The amount of alternative capital in the reinsurance industry has reached another new high at the middle of 2024, with capital allocated to alternative and insurance-linked securities (ILS) structures now reaching $110 billion, according to Aon. The broker noted catastrophe bond market expansion as a key driver, highlighting some of the milestones passed by the […]

World Bank has now facilitated over US $4.8bn in catastrophe bonds

The World Bank has now facilitated and issued over US $4.8 billion in catastrophe bonds across 17 transactions we have covered over the years, with $745 million issued over the course of just a few weeks in 2024 to support Mexico and Jamaica’s disaster risk transfer and financing needs. The most recent catastrophe bonds from […]

Saskatchewan Healthcare pension gets 26.4% return from ILS allocation in 2023

The Saskatchewan Healthcare Employees’ Pension Plan (SHEPP) saw it’s allocation to the insurance-linked securities (ILS) asset class via managers Aeolus Capital Management and Nephila Capital deliver an impressive 26.4% return in 2023. Gains generated from the strong returns last year and fresh investments made have helped the Saskatchewan Healthcare Employees’ Pension Plan (SHEPP) grow its […]

Puerto Rico gets $282m parametric cover. Says cat bond “opened door” to capital market

The Government of Puerto Rico’s Autoridad de Asesoría Financiera y Agencia Fiscal (Fiscal Agency and Financial Advisory Authority) has secured $282 million of parametric disaster insurance cover, with the recent $85 million Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond seen as a key component that opens the door to the capital markets. Puerto Rico […]

Catastrophe bond issuance in 2024 hits $12.1bn, running 29% ahead of prior year

Catastrophe bond new issuance continues apace in 2024 and has reached $12.1 billion including the latest deals to hit the market and settle today, which means the pace of issuance is now running 29% ahead of the prior year, according to the latest data from Artemis. That rate of issuance is particularly notable, especially as […]

Healthcare of Ontario Pension Plan (HOOPP) lifts ILS investments 40% in 2023

The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, put additional capital into insurance-linked securities (ILS) in 2023, lifting its investments in the space above US $1 billion for the first time and growing them over 40% year-on-year. A year ago, HOOPP’s annual report showed that the pensions insurance and reinsurance […]

Cat bond market in a healthy position with higher-for-longer collateral returns: Plenum

With catastrophe bond issuance so far in 2024 outpacing prior years and supply and demand dynamics contributing to an increase in spreads in recent weeks, Dirk Schmelzer, Managing Partner and Senior Portfolio Manager at Plenum Investments, the Zurich-headquartered manager of insurance-linked securities (ILS) and related assets, feels the market is in a very healthy and […]

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