Bloomberg: Catastrophe-Bond Issuance Pushes Overall Market to Almost $50 Billion
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Aon poll: 15% of US insurers say ILS / third-party capital feature in their 2025 plans
A recent poll of insurers in the United States, undertaken by broker Aon’s Capital Advisory division, found that within those carriers’ capital management plans for 2025, insurance-linked securities (ILS) and third-party reinsurance capital solutions are a significant feature. With the market having been challenging for a number of years, but insurers responding with a growth […]
Cat bond Index returns 40% in two years. Investor demand may tighten spreads: Twelve Capital
Specialist investment manager Twelve Capital has highlighted another stunning year for the catastrophe bond market, pointing out that the Swiss Re cat bond Index has returned 40% in just two years, but also sharing a note of caution that further spread tightening is possible with investor demand elevated for the asset class. Reviewing 2024, Twelve […]
Brazil authorises first ILS structure Andrina, sponsored by reinsurer IRB Re
The Brazilian insurance regulator SUSEP has now authorised the first insurance-linked securities (ILS) structure in the country, with Andrina sponsored by IRB Re and now approved to issue Letra de Risco de Seguro (Insurance Risk Letters), which is the name for the insurance-linked notes a Brazilian ILS structure can issue to be sold to investors. […]
IRB Re gets first ILS structure in Brazil approved by regulator
The Brazilian insurance regulator, Superintendence of Private Insurance (SUSEP), has approved the country’s first insurance-linked securities (ILS) structure, Andrina, sponsored by IRB Re. The authorisation allows Andrina Sociedade Seguradora de Propósito Específico, or Andrina Special Purpose Insurance Company, to issue Letra de Risco de Seguro (Insurance Risk Letters), the designated term for insurance-linked notes in […]
Brazil aligning ILS approach with global standards to transform catastrophe coverage
Speaking at a Fitch Ratings event on the development of insurance-linked securities (ILS) in Brazil, Rodrigo Botti, former CFO of IRB and former CEO of Terra Brasis, emphasised a domestic market-first approach, with no intention of competing with other established ILS hubs. According to Botti, the ILS approach taken by Brazil focuses on aligning regulations […]
Talanx: Parametric Maschpark cat bond augments Chile quake reinsurance as exposure grows
Having recently secured its debut catastrophe bond, the $100 million Maschpark Re Ltd. (Series 2024-1) parametric earthquake issuance, German re/insurance group Talanx has said that the protection augments its need for reinsurance and to cover earthquake risks in Chile as its business grows. As we began reporting on November 7th, Talanx AG, the German insurance and reinsurance group, […]
Cat bond demand and spreads expected to remain elevated: Twelve Capital
Specialist investment manager Twelve Capital has said that it anticipates the increased demand for catastrophe bonds to persist and that while market spreads may compress somewhat, they are expected to remain elevated by historical standards. Commenting on the 2024 Atlantic hurricane season that is now drawing towards its official close, Twelve Capital explained that while […]
China financial regulator continues to promote Hong Kong for catastrophe bonds
China’s National Financial Regulatory Administration (NFRA), the financial industry regulatory agency under the State Council of the People’s Republic, is continuing to promote Hong Kong as a venue for insurers and reinsurers to sponsor catastrophe bonds. Speaking at a conference in Hong Kong this week, Li Yunze, the Chairman of the National Financial Regulatory Administration […]
Hannover Re shares only €18m in large losses with ILS through first nine months of 2024
Hannover Re has continued to share a reduced proportion of its large natural catastrophe losses with insurance-linked securities (ILS) capital sources through the first nine months of this year, with just €18 million shared up to the end of September. Recall that, in full-year 2022, Hannover Re had shared more than one billion Euros of […]