Capacity is King, as reinsurance becomes precious: Aon

When reinsurance capacity becomes scarce, or less available, as has been seen in Florida and at the mid-year renewals, capacity becomes “King” and those with availability of it are no doubt very popular. Aon’s Reinsurance Solutions described the mid-year renewal dynamics very well in a recent report, saying that capacity is King in Florida, while […]

ARC addresses role of insurance on climate change impacts in Africa

The African Risk Capacity Insurance Company (ARC) has hosted a regional meeting to address the role of insurance in fighting climate change impacts on the African continent. Representatives from ARC member states and funding donor partners met in Malawi to discuss how parametric insurance has the potential to transform how the continent deals with climate-change-induced […]

Swiss Re launches cat bond investment adviser, with Guatteri as CEO

Global reinsurance firm Swiss Re has set up a new insurance-linked securities (ILS) venture, launching an SEC registered investment adviser today named Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), which will have a focus on catastrophe bond investment management. The move comes as the reinsurance giant continues to build-out and formalise its capabilities in managing […]

Cat bond market resilient through macroeconomic headwinds: Aon

Despite the significant macroeconomic headwinds that posed a threat to investor capital and impacted most financial markets through the second-quarter of 2022, the catastrophe bond market was resilient by comparison, with the period seeing its third-highest volume of new cat bond issuance. This is according to Aon Securities, the capital markets, catastrophe bond and insurance-linked […]

Lloyd’s to announce significant London Bridge 2 ILS expansion plan

Lloyd’s of London will today announce a significant expansion of its London Bridge insurance-linked securities (ILS) platform, with a plan to welcome more capital, new types of reinsurance transactions and make the transfer of different kinds of risks to capital market investors simpler. Dubbed London Bridge 2, according to the Financial Times that was given […]

RenRe grows Medici 25% in attractive cat bond market: CEO

For global reinsurance firm RenaissanceRe, the Medici catastrophe bond focused investment fund strategy has been one of its sources of growth in third-party capital assets under management in recent years, a trend that continued in 2022. Like many other managers of third-party reinsurance capital assets, or insurance-linked securities (ILS) strategies, RenaissanceRe saw outflows from some […]

Travelers pleased with execution of latest cat bond: CFO Frey

US property & casualty insurance giant The Travelers Companies was “pleased” with the reception its latest catastrophe bond received in the market, as it increased the amount of reinsurance cover it has from capital market cat bond investors during its latest renewal. Travelers secured $575 million of multi-year collateralized property catastrophe reinsurance with the Long […]

Asia Insurance Review: Hybrid solutions for China’s natural catastrophes

Even as countries across the globe grapple with climate change, alternate risk transfer mechanisms like parametric solutions are emerging as the best option. Phoenix CRetro Reinsurance’s Mr Kirill Savrassov and Tenax Capital’s Mr Toby Pughe spoke with Asia Insurance Review. By Anoop Khanna According to a PwC report published in May 2022, the insurance protection gap could reach $1.86tn by 2025 and […]

CCRIF parametric risk pool grows 10% to US $1.2bn at renewal

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has expanded its risk pool by 10% year-on-year, as its member governments renewed $1.2 billion of parametric insurance coverage against catastrophe, climate and seismic perils. Parametric insurance cover has been renewed by Caribbean and Central American governments for tropical cyclones, excess rainfall and […]

Cat bonds one of the most prominent innovations in sustainable finance: IMF

According to a staff climate paper published by the International Monetary Fund (IMF), catastrophe bonds are one of “the most prominent innovations in the field of sustainable finance in the last 15 years,” but the organisation believes more use of them is needed to cover burgeoning catastrophe and climate risks. Catastrophe bonds sit alongside green […]