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Google’s new catastrophe bond to settle at $275.5m

Google and its holding company parent Alphabet, Inc. have now successfully secured $275.5 million of California earthquake risk protection from their new catastrophe bond, the Phoenician Re Ltd. (Series 2021-1) issuance. It’s fallen a little short of the revised top-end target of $285 million, but with pricing at a much lower

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ILS “particularly suitable for reducing tail risks” for investors: BAI

Despite the fact insurance-linked securities (ILS) themselves have the tail-risk of major global natural catastrophe events firmly embedded in the asset class, as part of a broader alternatives allocation ILS are “particularly suitable for reducing tail risks” in investor portfolios, according to the BAI. The German association for alternative investments,

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India advised to regulate for insurance-linked securities & cat bonds

In order to develop India’s International Financial Services Centre (IFSC) into a competitive global insurance and reinsurance hub, a committee has advised that offering regulated frameworks for insurance-linked securities (ILS) such as catastrophe bonds is critical. India’s International Financial Services Centers Authority (IFSCA) put together a committee led by senior

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Philippines gets $500m World Bank catastrophe contingent credit line

The Philippines has received more catastrophe protection with the help of the World Bank, as its government has signed up to another $500 million catastrophe contingent line-of-credit through a new Catastrophe-Deferred Drawdown Option arrangement, dubbed CAT-DDO 4. The Philippines has benefited from these novel catastrophe contingent credit arrangements before, having

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Alphabet (Google) targets $250m+ third quake catastrophe bond

Google’s holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series 2021-1)

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ILS fees can be a “significant contributor” to reinsurers earnings: Moody’s

Insurance-linked securities (ILS) related fee income and profit shares can become a “significant contributor” to the earnings of insurance and reinsurance firms that manage third-party capital, according to rating agency Moody’s. While the vast majority of reinsurers already leverage alternative capital and insurance-linked securities (ILS) within their retrocession arrangements, some

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German Gov commits €18m to subsidize ARC climate cover

Alongside the United Nations 2021 United Nations Climate Change Conference (COP26), the Government of Germany has committed €18 million to subsidize the cost of disaster risk insurance for qualifying African Risk Capacity (ARC) Group Member States. In a statement, the Parliamentary State Secretary to the Federal Ministry for Economic Cooperation

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