Secondary perils drive record 92% of 2025’s $107bn global insured losses: Swiss Re
According to a new report from Swiss Re Institute, whilst global insured losses in 2025, at US $107 billion, fell below the long-term natural catastrophe trend, secondary perils, including severe convective storms (SCS), wildfires, and floods, accounted for a record 92% of the total. The Los Angeles wildfires from the start of 2025, which contributed […]
Terrorism cat bonds help distance taxpayers from potential loss: GC’s Gallagher at IFTRIP
Speaking at the International Forum of Terrorism Risk (Re)Insurance Pools in Sydney, Australia today, Guy Carpenter’s Asia Pacific CEO, Tony Gallagher, has explained the importance of retrocession markets in supporting provision of terrorism reinsurance, highlighting catastrophe bonds as an important and growing mechanism. The IFTRIP event brings together the government regulators, insurance and reinsurance companies […]
Pool Re in the market with a new Baltic terrorism catastrophe bond
Pool Re, the UK government backed mutual terrorism reinsurance firm, is back in the catastrophe bond market to sponsor its fourth terrorism catastrophe bond, with a Baltic PCC Limited (Series 2026-1) issuance being offered to investors, we understand. When Pool Re announced its latest retrocession program renewal earlier this month, we indicated that sources were saying at […]
Basis risk a manageable, programmable feature of parametric triggers: Research
A new study authored by Hang Gao, et al published in The Geneva Papers on Risk and Insurance has highlighted how basis risk is a manageable and structural feature of parametric triggers, decoupling it from financial impacts on insurers or policyholders to focus on its fundamental properties. According to the paper, weather parametric insurance has […]
Nascent Re issues its first listed insurance-linked securities, €10m OFS Re preferred shares
Nascent Re Ltd. a licensed reinsurance transformer owned and operated by Bermuda-based Nascent Group, has completed its first issuance of listed insurance-linked securities, as a €10 million tranche of OFS Re Series 2026-001 preferred shares have been admitted to the Bermuda Stock Exchange (BSX). Nascent Group is a technology-driven insurance management, ILS servicing and reinsurance transformer […]
Hannover Re shared 20% of large losses with ILS investors in 2025, retro support evident as well
Hannover Re has reported its full-year 2025 results this morning, with a meaningful increase to net income and clear growth in property and casualty risks, while on the large loss side insurance-linked securities (ILS) capital sources ended up supporting roughly 20% of the large losses it experienced. Over 2025, Hannover Re’s group net income increased […]
Cat bonds offer path to better diversification under total portfolio approach: WTW
As the catastrophe bond market continues to expand, WTW has highlighted these instruments as an appropriate asset class within a total portfolio approach (TPA). The company notes that cat bonds enhance both portfolio return distribution and diversification, offering returns that remain uncorrelated to traditional asset classes. WTW states that a total portfolio approach (TPA) challenges […]
Healthcare of Ontario Pension Plan ILS allocation value rises 9% in 2025, to US $1.44bn
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, saw its investment allocation to insurance-linked securities (ILS) rising in value by approximately 9% in 2025, lifting its ILS portfolio to approximately US $1.44 billion. The now CAD $132 billion pension fund has been allocating to the insurance-linked securities (ILS) asset class, […]
CalPERS ILS investments hit $1.451bn at YE 2025, with Tangency, Integral, Swiss Re allocations
CalPERS, the largest public pension fund in the United States, ended 2025 with its investments in catastrophe bond and insurance-linked securities (ILS) fund strategies amounting to $1.451 billion, with allocations in place with Tangency Capital, Integral ILS and Swiss Re’s SRILIAC. The California Public Employees’ Retirement System, or CalPERS, is one of the largest institutional […]
Reinsurance sidecar market estimated to have grown 183% since 2023: AM Best
The outstanding market for collateralized reinsurance sidecar structures has expanded rapidly, with estimates from rating agency AM Best valuing the space between $16 billion and $18 billion, which marks an 183% increase over the mid-point of the $5 billion to $7 billion range estimated by the agency in 2023. The rating agency has published a […]