PGGM ILS assets surpass $9bn, builds-out mandates under Nightingale Re
PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, ended 2023 with just over US $9 billion in ILS assets under management, as a slight uplift in capital deployed in euro terms and currency rates lifted AUM to a […]
Hong Kong government highlights ILS market commitment in budget
The government of Hong Kong wants to attract more insurance-linked securities (ILS) sponsors to the Special Administrative Region, as it highlights a commitment to develop its ILS market and build on early successes there. The Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China published its insurance-linked securities (ILS) regulations and […]
Cat bond sponsors have recovered 2.69% on a paid loss basis: Swiss Re
Over the history of the catastrophe bond market, sponsors have recovered some 2.69% on a paid loss basis, which on a reported loss basis would have seen recoveries of 3%, according to Swiss Re Capital Markets. The investment banking and insurance-linked securities (ILS) specialist unit of global reinsurance giant Swiss Re highlighted these reinsurance recovery […]
Insurance (cat) carried the day ($3.5bn in 2023 P&C earnings): Warren Buffett
The Berkshire Hathaway insurance and reinsurance businesses delivered as Warren Buffett had anticipated in 2023 and the result drives home investor attraction to the sector right now, with a stunning performance and $3.5 billion in earnings reported by the property and casualty reinsurance arm. Berkshire Hathaway reported its results on Saturday, read all about them […]
Hong Kong Insurance Authority looks to build ILS market
The Hong Kong Insurance Authority (IA) has outlined a strategic focus to expand the region’s Insurance Linked Securities (ILS) capacity, in its latest annual report. With four catastrophe bonds already issued, totalling HK$4.4bn (US$562m), including a notable US$350m issuance backed by the World Bank, the IA is looking to enrich the ILS product structures and foster a […]
Tokio Marine sponsoring new $100m Kizuna Re quake cat bond from Singapore
Tokio Marine & Nichido Fire Insurance Co. Ltd., the giant Japanese primary insurance group, has returned to the catastrophe bond market seeking issuance of a $100 million Kizuna Re III Pte. Ltd. (Series 2024-1) transaction, that is being issued out of Singapore to provide the company with collateralized earthquake reinsurance protection. This is the ninth catastrophe […]
Extreme perception of climate change an opportunity for ILS market: Neuberger Berman
Lauren Crane, analyst in the Insurance-Linked Strategies team at Neuberger Berman, suggests that the extreme perception of climate change may “present an opportunity rather than a threat” to the ILS market. Writing in a blog on the matter for global asset manager Neuberger Berman, Crane observed that climate change is often cited as the primary […]
Around $20bn of catastrophe bond issuance possible, market growth could soar
The stage is being set for what could be the most significant year of growth the catastrophe bond asset class has ever experienced, as forecasts that new issuance could approach $20 billion suggest outright cat bond market growth of more than $8 billion is possible in 2024. Global asset manager GAM Investments has forecasted that […]
TWIA Board confirms new PML with ~$4bn reinsurance & cat bonds needed
The Board of the Texas Windstorm Insurance Association (TWIA) met today and has confirmed a 1-in-100 year PML for 2024 funding purposes at a new high of $6.5 billion, meaning the insurer of last resort will seek to require just over $4 billion in reinsurance limit for the 2024 wind season. The Board were also […]
Swiss Re’s alternative capital fee income rises 68% to $195m in 2023
Swiss Re’s specialist insurance-linked securities (ILS) and third-party reinsurance capital management division, Alternative Capital Partners (ACP), has reported a 68% increase to its fee income earned for the full-year 2023, reaching $195 million. With third-party investor assets under management (AUM), at the alternative reinsurance capital and insurance-linked securities (ILS) focused unit of Swiss Re, having […]
