The Finance Minister of Jamaica Nigel Clarke has told Reuters that his country intends to renew its catastrophe bond coverage when it reaches maturity at the end of this year and will do so as a stand-alone cat bond for Jamaica, or as a regional Caribbean wide one if others
Reask, a tech company that provides catastrophe modelling, climate analytics and data using machine learning techniques and artificial intelligence, is set to expand to the United States and will use the now $6.55 million seed funding it has accumulated, as it looks to expand its extreme weather modelling services. Reask
The fact capacity and capital was tight in the catastrophe bond market at the time of the issuance of the $350 million of IBRD – Chile 2023 cat bond notes drove the World Bank team to look to traditional re/insurers and the issuance of simultaneous catastrophe swaps, resulting in much stronger
The Global Shield Solutions Platform (GSSP), a new multi-donor grant facility and one of the core financing vehicles of the Global Shield, has officially been launched to help vulnerable countries effectively address loss and damage exacerbated by climate change. Launched at the InsuResilience Global Partnership Annual Forum on June 9th,
US energy company Star Group (formerly Star Gas Partners) has benefitted from its weather derivative arrangements again in the first-quarter of 2023, recording a full recovery under the terms of the degree day contract it has in place. Star Group has been utilising weather derivatives to hedge risk for well
A new financial structure that can provide community-based climate insurance or risk transfer protection from the capital markets, while incorporating resilience, advanced funding for loss-prevention and mitigation, through an insurance-linked security (ILS) designed structure has been proposed. Reinsurance broker Guy Carpenter has collaborated with Dr Franziska Arnold-Dwyer from Queen Mary
Central Asian leaders recently convened in Xi’an to announce an unprecedented number of agreements with China. Deepening ties with Beijing come as other international actors have failed to deliver on investment in the region on the same scale as China. From the perspective of many Central Asian officials, geography and
The London market’s attempt to challenge other insurance-linked securities (ILS) domiciles in winning ILS business to the UK has “failed”, the Chief Executive of the London Market Group has told the Financial Times. An FT article yesterday evening stated that London’s insurance and reinsurance market needs to become a central
We’re delighted to announce that the Monetary Authority of Singapore (MAS), the central bank and financial regulatory authority, will join us at our upcoming ILS Asia 2023 conference on July 13th and deliver an opening keynote speech. Singapore has made impressive progress as a hub for insurance-linked securities (ILS) and catastrophe
The Fundamentals of Insurance-Linked Securities (ILS) is an online professional qualification upgrade course convened by Phoenix CRetro Ltd. (United Kingdom) in partnership with various professional and educational institutions worldwide.
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