Hong Kong: Protection gaps, Chinese municipalities a key focus for ILS ambitions
After its government expressed its desire to attract more insurance-linked securities (ILS) sponsors to the Hong Kong Special Administrative Region, highlighting a commitment to develop its ILS market, executives from the Insurance Authority have made filling protection gaps a key focus of its ILS ambition. This will include not just attracting international insurance and reinsurance […]
Hannover Re sponsors $13.75m Cumulus Re cloud outage catastrophe bond
Global reinsurance firm Hannover Re has successfully sponsored a $13.75 million Cumulus Re (Series 2024-1) parametric cloud outage catastrophe bond that was privately issued and placed using the firm’s Kaith Re Ltd. vehicle, with modelling of the cyber risks undertaken by Parametrix. Hannover Re has been looking at a parametric cloud outage retrocession transaction for a […]
Non-life alternative capital grew 11.5% to $107bn in 2023: Gallagher Re
Investor inflows to the catastrophe bond market and other areas of insurance-linked securities (ILS) helped non-life alternative reinsurance capital rise by 11.5% to a new record high of $107 billion by the end of 2023, according to the latest data from broker Gallagher Re. Non-life ILS and alternative capital grew particularly strongly in the second-half […]
Industry-loss cat bond spread decline necessitates portfolio rethink: Icosa
Spreads for industry-loss index trigger catastrophe bond instruments have declined or tightened so much in recent months that indemnity cat bonds now look relatively more attractive for the first time, which necessitates a rethink about how cat bond portfolios are constructed, according to Florian Steiger, of Icosa Investments. Steiger formed Icosa Investments as a new […]
As alternative capital hits $108bn record-high, Aon forecasts further growth
According to Aon Securities, the insurance-linked securities (ILS) and investment banking arm of Aon’s Reinsurance Solutions, the amount of alternative capital in the reinsurance industry ended 2023 at a new high of $108 billion, a figure the broker expects to grow as interest investor is growing across the range of ILS instruments. Alternative capital levels […]
ILW market activity rising, as preparations for hurricane season begin
According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season. As we’ve reported, long-range seasonal forecasts for Atlantic hurricanes have suggested a challenging storm season could be ahead. […]
First London Bridge cat bond a valuable roadmap for Lloyd’s market: CFO Keese
The first catastrophe bond to be issued using the London Bridge 2 PCC insurance-linked securities (ILS) structure provides a valuable roadmap for Lloyd’s market participants and Lloyd’s CFO believes the market’s ILS platform offers a viable alternative to domiciles like Bermuda. Speaking last week during the latest Lloyd’s market message, CFO Burkhard Keese explained that […]
California to expand use of catastrophe models to wildfire, terrorism, flood: Lara
As part of its goal to ward off a developing insurance crisis in California that has seen major companies pull-back on underwriting property insurance there, or exit the state entirely, Insurance Commissioner Ricardo Lara has announced regulation to allow for an expanded use of catastrophe models to help insurers operate there more sustainably. “Currently, the […]
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 […]
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 […]
