Weather risk transfer market is primed for innovation: Swiss Re Corporate Solutions ECM
There’s a lot of room for innovation when it comes to weather risk transfer solutions, and with the energy transition and adoption of renewables providing additional opportunities, Rishu Ranjan of Swiss Re Corporate Solutions is optimistic for the future. Ranjan leads the Weather & Environmental Commodities (ECM) team at Swiss Re Corporate Solutions, the commercial […]
Collateral can be held too long for US wind ILW’s, study suggests
With the key January reinsurance renewals having been challenging and characterised by reduced capacity and higher pricing, the focus can often turn to buying hedges such as industry-loss warranties (ILW’s), but a new study highlights some issues investors should be aware of. The study by Kriesch Advisors, mandated by Swiss-headquartered capital markets risk transfer focused […]
Global Natural Catastrophe & Hazard Review. Analysis & Insurance Implications
During past year, the world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that these hazards bring, according to Gallagher Re Natural Catastrophe Report. Contents: Global natural catastrophe overview Global Natural Hazard: Notable Statistics Global Natural Catastrophe Event Summary Natural catastrophe summaries by […]
Visualising higher catastrophe bond spreads & pricing
With reinsurance rates having hardened considerably, pricing in the catastrophe bond and broader insurance-linked securities (ILS) market has followed suit. In fact, the new reinsurance and retrocession pricing regime that has been installed through the January 1 2023 renewal season really became visible first in the catastrophe bond market, as Artemis’ data shows. Today, we […]
PICC P&C’s Great Wall Re cat bond listed on Bermuda Stock Exchange
The Bermuda Stock Exchange (BSX) has become the listing home for another Hong Kong issued catastrophe bond, with the notes from Chinese domestic insurer PICC Property and Casualty Company Limited’s $32.5 million Great Wall Re Limited cat bond now listed on the exchange. The Bermuda Stock Exchange (BSX) continues to be the listing venue of choice […]
ILS demand to be elevated throughout 2023: Aon
Analysts at Aon have said they expect demand for all forms of alternative capital to remain elevated throughout 2023 as insurers and reinsurers look to mitigate both macro-economic and reinsurance market challenges. In a new report on January reinsurance market dynamics, the broker noted that ILS capital has become an “essential source of capacity” for […]
TWIA Board wary of cat bond costs in 2023. Targets $2.92bn reinsurance
Members of the Board of the Texas Windstorm Insurance Association (TWIA) expressed concerns over the potential cost of catastrophe bond coverage in 2023, having an expiring $400 million cat bond it wants to renew as part of a target to buy up to $2.92 billion of reinsurance for the coming storm season. TWIA’s Board met […]
ILS “poised for strong market growth” on returns & diversification: Aon
Elevated, near-record returns and still-evident asset class diversification benefits, leave insurance-linked securities (ILS) and alternative capital in reinsurance poised for strong growth, according to Aon’s Reinsurance Solutions. A supply-demand imbalance that became evident in the catastrophe bond market in 2022, alongside the reaction to increased catastrophe activity over the last five years, has “pushed the […]
Capital entering reinsurance in 2023 will be rewarded: Aon’s Monaghan
New capital that enters the reinsurance market in 2023 is expected to be rewarded, thanks to strong demand for protection and the attractive terms that capital can be deployed at, according to Joe Monaghan, Global Growth Leader at Aon’s Reinsurance Solutions. After a “turbulent” January reinsurance renewal season, that Monaghan says came to a “pragmatic” […]
Stone Ridge backs $100m retro cyber quota share for Hannover Re
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance and insurance-linked securities (ILS), has provided US $100 million in capital to support an innovative retrocession cyber quota share arrangement for global reinsurance firm Hannover Re. Hannover Re claims this is the first transfer of cyber risks to […]