Jamaica’s Dr. Nigel Clarke proposed as IMF Deputy Managing Director
Dr. Nigel Clarke, the Minister of Finance of Jamaica and the driver of that country’s multi-layered approach to disaster risk financing that includes the first catastrophe bond for a small-island state has been proposed to become a Deputy Managing Director of the International Monetary Fund (IMF). Kristalina Georgieva, Managing Director of the IMF, announced her […]
Hannover Re’s cat bond fronting hits record level, collateralised ILS activity expands in H1 2024
Global reinsurer Hannover Re has seen continued success in its business servicing and facilitating transactions in the collateralised reinsurance and insurance-linked securities (ILS) market in the first-half of 2024, with it notably beating its own full-year record for catastrophe bond limit fronted for already this year. In recent years, Hannover Re has become one of […]
UCITS cat bond funds average 6.35% YTD, second-highest annual return since 2011
Catastrophe bond funds in the UCITS format had reached an average return year-to-date of 6.35% by August 2nd 2024, which is the second-highest annual return since the Plenum CAT Bond UCITS Fund Indices started tracking the market in 2011. The year-to-date return of this group of catastrophe bonds is only second to the full-year 2023 record, […]
ARC grows, diversifies, but keeping reinsurance expenses in check crucial: Ndlovu
African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, has commemorated its ten-year anniversary and said it has now paid out over $170 million in claims. “From covering 12.9 million people in 2014, we protected 26.4 million in 2023. We have also expanded […]
ARC pays $11.6m as drought triggers Malawi’s parametric insurance
The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products and risk pooling for countries and other entities in Africa, has made just over $11.6 million in payouts to Malawi and a replica partner the United Nations High Commissioner for Refugees (UNHCR) after drought triggered its parametric insurance there. The Republic of […]
Schroders Capital grows ILS AUM ~25% in a year to $5.5bn
The Schroders Capital insurance-linked securities (ILS) team has successfully increased its ILS assets under management (AUM) to a new high of $5.5 billion by the end of March, representing approximately 25% growth in just one year. Back in March 2023, the Schroders Capital ILS team’s assets under management stood at $4.4 billion across its range […]
ILS manager M&A resurgence is a strong signal for the market
Two important pieces of insurance-linked securities market merger and acquisitions (M&A) news came to light last week, both of which provide signals for those watching of the health of the sector and investor appetite. But there is also a signal of the desire for scale, to be competitive in offering a broad suite of risk […]
Twelve Capital and Securis to merge, creating founder-led ILS manager with $7.8bn
Breaking news today as established insurance-linked securities (ILS) investment managers Twelve Capital and Securis Investment Partners have announced their intention to merge, with the resulting ILS manager set to be a significant founder-led business with around $7.8 billion in assets under management. Both sets of shareholders are set to remain fully invested in the combined […]
$60.5m of Hannover Re’s Seaside Re private cat bonds mature, $78.25m extended again
Some $60.5 million of the Seaside Re private catastrophe bond transactions facilitated by global reinsurance firm Hannover Re have now been allowed to mature, reducing the amount outstanding with their maturity dates extended to $78.25 million and those remaining have had their maturity dates pushed further out to October. There have been repeated extensions of […]
Hannover Re’s vehicle Kaith Re issues $5m LI Re 2024-1 private cat bond
A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor. Hannover Re has facilitated the transaction, helping the unnamed cedent […]