Jamaica to get $70.8m parametric CCRIF payout for hurricane Melissa winds
CCRIF SPC, the Caribbean and Central America Parametric Insurance Facility and Development Insurer, is set to make its biggest single payout after after major hurricane Melissa triggered Jamaica’s tropical cyclone policy. There could be more parametric risk transfer payout financing to come as well, as CCRIF said that the Government of Jamaica is expected to […]
Hurricane Melissa estimated single-digit billion insured loss. Cat bond payout likely: Aon
In the weekly Impact Forecasting report from Aon, the company said that major hurricane Melissa’s impacts on Jamaica are likely to drive economic and insured losses into the single-digit billions of dollars, while also confirming parametric structures are likely to respond due to the storms severity. The insurance and reinsurance broker explained that, for Jamaica, […]
Jamaica’s cat bond “doing what it was designed to do” – Lefferdink, Aon Securities
As the catastrophe bond market awaits an official determination on the potential payout of Jamaica’s $150 million IBRD CAR Jamaica 2024 parametric cat bond after hurricane Melissa, a representative of one of the deal’s structuring agents has said that early signs are that the cat bond structure is “doing what it was designed to do.” Chris Lefferdink, […]
Melissa insured impacts in the billions. Jamaica cat bond full loss most likely: Twelve Securis
The global insurance and reinsurance industry is facing losses in the billions of dollars after major hurricane Melissa’s devastating landfall and passage across Jamaica, while the country’s $150 million IBRD CAR Jamaica 2024 parametric catastrophe bond is likely to face a full loss, ILS investment manager Twelve Securis has said. In a post-event report, specialist catastrophe bond […]
P&C and life insurers leverage alt capital to navigate market shifts: Deloitte
As per accountancy firm Deloitte’s 2026 Global Insurance Outlook, property and casualty (P&C) and life insurers are increasingly turning to investor-backed and other forms of alternative capital to navigate shifting market conditions. In its 2026 outlook, the firm notes that property and casualty (P&C) carriers will need more flexible capital models that blend self-retained and […]
ARC makes $5.4m parametric payout to support Mozambique’s climate disaster response
The African Risk Capacity (ARC) Group, a provider of parametric disaster insurance products to countries and other entities in Africa, has made a combined parametric insurance payout of just over $5.4 million to support Mozambique’s response to the 2024/25 drought and to Tropical Cyclone Chido. According to the announcement, the Government of Mozambique received just […]
Hannover Re’s E+S Rück sees catastrophe reinsurance demand rising, ILS opportunity
Irrespective of lower claims experience over the last year in natural catastrophe reinsurance business, Hannover Re’s German subsidiary E+S Rückversicherung AG has said that it expects demand for property catastrophe reinsurance will continue to rise, while insurance-linked securities (ILS) business is also seen as an area of opportunity for the group. Hannover Re’s German subsidiary […]
Balanced reinsurance environment to persist into 2026: Active Re
The reinsurance market is expected to remain “in a phase of transition and recalibration”, remaining fundamentally healthy heading into 2026, said Robert Ali, Active Re’s Chief Operating Officer, in a recent interview with Reinsurance News. After a period of hardening, the market has evolved into a more balanced environment in 2025, a trend that is […]
Bermuda’s BMA set to consult industry on new parametric SPI class: Convergence 2025
During a panel session earlier today at the ILS Bermuda Convergence 2025 conference, it was announced that the Bermuda Monetary Authority (BMA) is currently in the final stages of implementing a new special purpose insurer (SPI) class that will primarily focus on the use of parametric triggers. The announcement was made by Taijaun Talbot, Assistant […]
ILS increasingly institutional. But investor education still critically important: Convergence 2025
During a panel discussion at the ILS Bermuda Convergence 2025 conference yesterday, speakers were asked to discuss what they’ve seen in the way of improvements in the insurance-linked securities (ILS) asset class over the last five years, with the institutionalisation of ILS and continuing efforts in educating investors both seen as key. The panellists were […]