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ILS fund diversity makes multiple ILS allocations a consideration: SIGLO research

The landscape of insurance-linked securities (ILS) fund products is relatively broad and diverse, even though the majority of ILS funds are crowded into similar sizes and target similar levels of risk, meaning that, for investors, there is value in considering multiple ILS allocations, according to SIGLO Capital Advisors AG. In fact, analysis undertaken by Swiss […]

SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond

France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance. SCOR last sponsored a catastrophe bond one year ago, from which it secured $75 million in […]

Hong Kong targets insurance-linked securities co-operation with Shanghai

Hong Kong and the mainland China city and financial hub of Shanghai are looking to co-operate on a range of financial initiatives, with one of them being insurance-linked securities (ILS). Representatives of the respective governments, financial regulators and exchanges met last week to discuss how to further enhance financial co-operation between Hong Kong and Shanghai. […]

Southern African nations to receive insurance payouts from historic drought

African Risk Capacity (ARC) has revealed that Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from the ongoing drought in the region, which is one of the worst in decades. In a recent meeting between ARC and its partners, stakeholders reportedly discussed the response to the drought emergency, intending to minimise the […]

Jamaica pleased with second World Bank cat bond, Hong Kong support: Minister of Finance

The Caribbean island nation of Jamaica is “pleased” to have secured coverage from its second World Bank supported catastrophe bond, Finance Minister Dr. Nigel Clarke has said, also citing his countries gratitude for financial support from Hong Kong, presumably through its ILS Grant Scheme. As Artemis reported yesterday, the latest catastrophe bond to be issued […]

Multilateral development banks to boost disaster & climate risk insurance

Leaders of 10 multilateral development banks (MDB’s) announced steps to collaborate more effectively to increase the impact and scale of their work, in order to tackle urgent development challenges, including addressing the growing need for disaster risk insurance and in climate risk financing. The 10 multilateral development banks (MDB’s) behind the announcement were the: African […]

$131.25m of Hannover Re’s private cat bonds extended again, $7.5m matured

Some $131.25 million of Hannover Re’s Seaside Re private catastrophe bonds have had their maturity dates extended further into 2024, as uncertainty continues over many of the 2021, 2022 and 2023 vintage deals. One $7.5 million transaction from 2020 has been allowed to mature in recent days, Artemis understands. In the last couple of years, […]

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 […]

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