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 […]
UCITS cat bond fund assets grow by 4% to reach $11.4bn in Q1 2024
The assets under management of the main catastrophe bond funds in the UCITS format increased by 4% over the first-quarter of 2024, to reach a new high of almost $11.4 billion by the end of the period. Catastrophe bond funds in the UCITS format have been growing rapidly over the last year, with their assets […]
Cat bond spreads adequately compensate for hurricane risk: Twelve Capital
Investment manager Twelve Capital feels that the spread being taken when investing into catastrophe bonds compensates for the shorter-term risk being taken from the hurricane peril, noting that pricing of cat bonds is based on a longer-term view than just a single hurricane season. With hurricane forecasts suggesting a hyperactive 2024 Atlantic storm season with potentially elevated […]
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 […]
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 […]
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 […]
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 […]
Philippe Trahan leaves Ontario Teachers’ Pension Plan (OTPP) in re-org
One of the longest-standing end-investor allocators to the insurance-linked securities (ILS) market has left his employer, as a re-organisation at the Ontario Teachers’ Pension Plan (OTPP) sees its Managing Director of ILS Philippe Trahan departing the organisation. The Ontario Teachers’ Pension Plan (OTPP) was an early move into the ILS investments space back in 2005 […]
ARC gets US Gov backing to expand parametric insurance capacity in Africa
African Risk Capacity Limited (ARC Ltd.), the financial affiliate and underwriting entity of the African Risk Capacity (ARC) Group, has entered into a landmark US $11.7 million partnership with the United States Government, to help expand access to parametric insurance and increase the size of its risk pool. The goal is to further safeguard food […]
Family offices leaning into insurance for diversification. So is KKR: McVey
Family office investors are increasingly leaning into allocations to the insurance sector as they seek out sources of diversification and relatively uncorrelated returns, something that investment giant KKR has been doing itself, according to the firm’s Henry McVey. For KKR, insurance is an area of investment designed to expand its business from a strategic standpoint, […]
