LA wildfires trigger cat bond market’s first-ever negative January return: Icosa
Recent estimates suggest that insured losses from the Los Angeles, California wildfires could be higher than anticipated. As a result, catastrophe bond prices are showing signs of weakness, with the market’s benchmark recording its first-ever negative January return since its inception over two decades ago, according to cat bond fund manager Icosa Investments AG. With […]
2024 cat bond returns to consolidate value proposition, maintain attractiveness: Swiss Re
According to Swiss Re Capital Markets, the insurance-linked securities (ILS) market continued the growth trend of recent years throughout 2024, as the last twelve months were marked by a “robust performance” for cat bond investors in the absence of events large enough to have a significant impact on the market. In a new report, the […]
LA wildfires trigger cat bond market’s first-ever negative January return: Icosa
Recent estimates suggest that insured losses from the Los Angeles, California wildfires could be higher than anticipated. As a result, catastrophe bond prices are showing signs of weakness, with the market’s benchmark recording its first-ever negative January return since its inception over two decades ago, according to cat bond fund manager Icosa Investments AG. With […]
“Breakthrough” parametric ILS fund is “capacity for profitable growth” – GC&C / Descartes
The launch yesterday of the Lumyna – Twelve Capital Parametric ILS Fund, a dedicated parametric insurance and insurance-linked securities (ILS) investment strategy managed by ILS manager Twelve Capital, is a “breakthrough” in the parametric space and provides “capacity for profitable growth”, senior execs at GC&C and Descartes Underwriting said. The Lumyna – Twelve Capital Parametric […]
Private ILS funds outpace cat bond funds in 13.10% ILS Advisers Index 2024 return
Private ILS funds outpaced pure catastrophe bond funds in the full-year performance of the Eurekahedge ILS Advisers Index, while the average return across all of the insurance-linked securities (ILS) fund strategies tracked was 13.10% for 2024. 2024 was the second year running where the two categories of ILS investment funds were evenly paced through the first-half. […]
Underlying ILS capital expands in 2024 as investors reinvest earnings: AM Best
According to ratings agency AM Best, underlying insurance-linked securities (ILS) capital expanded throughout 2024 due to a large quantity of investors reinvesting their earnings across the market, which further expanded deployable ILS capacity. AM Best and reinsurance broker Guy Carpenter previously revealed that dedicated reinsurance capital grew by 6.9% over the course of 2024, however, alternative […]
SBAI releases new consultation on valuation standards for private market asset managers
The Standards Board for Alternative Investments (SBAI), custodian of the Alternative Investment Standards, has announced that it has published a new consultation paper (CP5), containing proposed new standards related to valuation of private market assets. According to the announcement, SBAI’s proposed changes aim to ensure that the Standards “remain relevant and aligned with developments across […]
Two occurrence cat bonds believed affected by LA wildfires: Twelve Capital
Specialist insurance-linked securities (ILS) manager Twelve Capital has said that it believes two per-occurrence catastrophe bond structures are likely affected by the loss impact of the Los Angeles, California wildfires at this stage, while the impact of aggregate erosion for other cat bonds is still being assessed. Twelve Capital bases its latest assessment on the […]
AXCO: Is ILS regulation keeping pace?
The catastrophe bonds (cat bonds) market, the vast majority of the insurance-linked securities (ILS), has experienced substantial growth in recent decades, driven by increased (re)insurer demand for alternative risk transfer solutions and investor appetite to diversify their investment portfolios. According to market statistics, cat bonds issuance increased more than sevenfold between 2003 and 2023. There […]
PGGM / PFZW ILS portfolio returns 15.1% in 2024. AUM flat in Q4 at ~US $8.68bn
The insurance-linked securities (ILS) and reinsurance investments portfolio of Dutch pension PFZW, which is managed by pension investment firm PGGM, delivered a 15.1% return for full-year 2024, while in asset terms the allocation was a little down year-on-year but flat through the fourth-quarter. The latest figure for assets under management, of what is the largest […]