The Lloyd’s insurance and reinsurance market is understood to be in active discussion with financial market regulators over an expansion of the regulatory approvals for its insurance-linked securities (ILS) structure London Bridge Risk PCC. Lloyd’s launched the vehicle over a year ago now and the London Bridge Risk PCC Ltd.
Current market conditions make allocating to the catastrophe bond asset class a particularly attractive prospect for investors at this time, according to Twelve Capital Founding Partner & Group CIO, Dr. Urs Ramseier. In a letter, Ramseier sets out the Twelve Capital view on the current geopolitical landscape, and how the
The Government of Mexico has announced the launch of a tripartite project to develop a sovereign parametric insurance solution for climate-vulnerable smallholder farmers, supported by investments in long-term risk finance and insurance market development. The solution represents a partnership between the Ministry of Finance & Public Credit, the Insurance Development
Total economic losses due to natural disasters totalled US$72 billion (SG$97.7 billion) in 2021, according to Aon’s 2021 Weather, Climate and Catastrophe Insight report. Following three years of economic losses exceeding US$100 billion, Asia’s figure dropped to US$72 billion in 2021. Insurance covered only 9% of economic losses in Asia, compared
The Board of the Texas Windstorm Insurance Association (TWIA) has voted to adopt a multi-model view of risk for 2022, with its newly derived 1-in-100 year probable maximum loss driving a decision to secure a roughly $2.04 billion tower of reinsurance and catastrophe bonds for 2022. TWIA’s Board met yesterday
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via
As the US Securities & Exchange Commission (SEC) publishes a new set of proposed rules on climate risk disclosure, it’s becoming increasingly clear regulating for climate risk reporting is going to drive risk management and risk transfer spend, with ramifications and opportunity for insurance, reinsurance and insurance-linked securities (ILS). Yesterday,
The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, has expanded its investment allocation to insurance-linked securities (ILS) by roughly 31% in 2021, taking it to C$721 million (approx. US $575m). The Healthcare of Ontario Pension Plan (HOOPP) began investing into insurance-linked securities (ILS), largely via
Serbia and North Macedonia, two Balkan countries situated in Southeast Europe, are strongly affected by extreme weather events. Over the last years, excess rainfall, long-lasting precipitation periods and snowmelt have caused unprecedented floods. In May 2014, Serbia suffered the heaviest rainfall and worst flooding since records began 120 years ago,
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