Analysis from Bloomberg Intelligence suggests participants in the insurance and reinsurance industry should be seriously considering how they protect themselves against the risks of losses from major solar storms, with the peril having the potential to be as costly as major hurricanes. “A major space storm could cost insurers even
Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the same five-month period in 2023, which was already a record,
New Zealand’s EQC Toka Tū Ake, previously known as the New Zealand Earthquake Commission, has added more limit to its reinsurance tower, lifting the top by $1 billion for 2024, in a renewal securing $9.2 billion of cover for disaster losses in the country. The EQC has been growing New
The California Earthquake Authority (CEA) has maintained its reinsurance and catastrophe bond tower at $9.1 billion in size through the start of 2024, with its most recent renewals for April 1st seeing the insurer securing almost $1.2 billion in protection. When we last covered the CEA, we reported that the
PGGM, the Dutch pension investment manager that is the largest single allocator to the insurance-linked securities (ILS) market on behalf of end-client pension PFZW, has issued a call for ILS fund managers to provide more data and transparency. Responding to the recent study published by Swiss based alternative asset advisory
UBS Hedge Fund Solutions, a division of UBS Asset Management focused on managing and advising on a range of alternative assets for clients, has recommended maintaining exposure to insurance-linked securities (ILS), but in what could be a nod to hurricane season forecasts, noted that weather analysis is key around the
enax Capital, the London based hedge fund investment manager that operates a UCITS cat bond strategy, has analysed what it calls the “unusual” peak in volatility seen in recent weeks, which has resulted in the net risk margin gap widening between various perils. As well as a widening of the
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
The government of Puerto Rico is seeking $75 million in parametric insurance protection against the financial impacts of named storms and earthquakes from the capital markets, through a new Puerto Rico Parametric Re Ltd. (Series 2024-1) catastrophe bond transaction, Artemis has learned. This first Puerto Rico Parametric Re catastrophe bond is
The Fundamentals of Insurance-Linked Securities (ILS) is an online professional qualification upgrade course and in-person Swiss summer school convened by Phoenix CRetro Ltd. in partnership with various professional and educational institutions worldwide.
