ILS capital outpaced AM Best / Guy Carpenter forecast to hit $100bn in 2023
Earlier this year, rating agency AM Best and reinsurance broker Guy Carpenter had projected that third-party capital in reinsurance, so alternative capital or insurance-linked securities (ILS) market capacity, would end 2023 at $99 billion, but the market has actually outpaced this forecast. Now, Guy Carpenter has reported that the latest estimate from it and AM […]
Insurers in Kazakhstan, Uzbekistan, Azerbaijan & Georgia create reinsurance pool: ASN News
A memorandum establishing an international reinsurance facility called Turan was recently signed in the capital of Uzbekistan, Tashkent, according to a ASN News report. According to the announcement, the conference preceding the signing was attended by various heads of insurance companies, as well as representatives of regulators from Kazakhstan, Uzbekistan, Azerbaijan and Georgia. Moreover, the […]
Cat bond market shouldn’t give “free-ride” to secondary perils: Tenax
The catastrophe bond market needs to price appropriately for so-called secondary perils and stop giving them a “free-ride”, as there is a need to continue offering this type of typically frequency or aggregate style reinsurance protection, but investors must be adequately compensated for it, Tenax Capital has said. “For insurance to fulfil its social mandate […]
Record $15bn+ cat bond issuance in 2023 helps stabilise reinsurance: Swiss Re
With 2023 on-track to set a new record high for catastrophe bond issuance of over $15 billion, global reinsurer Swiss Re has explained how investor appetite is driving this trend and that the capital flows are helping to stabilise the reinsurance market. However, Swiss Re also believes that the rotation in insurance-linked securities (ILS) will […]
Hong Kong government pushes for more ILS and cat bond activity
At a recent event held in the city, speakers representing the government of the Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China were keen to promote the development of its insurance-linked securities (ILS) market offering and to attract more catastrophe bond business. With its ILS regulatory regime and ILS grant […]
CEA reinsurance program grows, cat bonds now 25%. Targets $2.2bn Jan renewal
The California Earthquake Authority (CEA) increased the size of its overall risk transfer and reinsurance program up to November 1st, hitting that date with $9.26 billion in-force, as part of which the CEA’s catastrophe bonds had increased their share. Of the $9.26 billion of reinsurance and risk transfer in-force at November 1st 2023, the CEA’s […]
LGT ILS Partners confident pricing will remain at attractive levels into 2024
LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investment unit of the private bank and asset manager LGT Capital Partners, is confident that market conditions are going to remain attractive into 2024, even expecting some marginal price increases in certain areas of the reinsurance renewals. LGT ILS Partners has experienced “robust performance” across its […]
ADB moots issuing cat bonds, as it proposes CAREC disaster insurance facility
The Asian Development Bank (ADB) has drawn up a plan for implementation of a disaster risk insurance facility for the Central Asia Regional Economic Cooperation (CAREC) countries, for which insurance-linked securities (ILS) would be seen as an important source of reinsurance capacity and it has even mooted issuing them itself. The member countries to the […]
Growing protection gap in insurance threatens Australians’ financial security: Andrew Hall
In a recent speech at the National Press Club, Insurance Council of Australia (ICA) CEO Andrew Hall warned of a widening “protection gap” in the insurance market, posing a significant threat to Australians’ financial security. Hall highlighted the challenges posed by increasing natural disasters, urbanisation, and global megatrends that are reshaping risk landscapes. The protection […]
CEA grows risk transfer program to $8.86bn, cat bonds still 24%
The California Earthquake Authority (CEA) increased its overall risk transfer and reinsurance protection through the middle of the year, lifting the program to almost $8.86 billion in size, with its catastrophe bonds making up a steady 24% of the total. Through the four months to end of August 2023, the California Earthquake Authority (CEA) added […]
