Category: ILS for investors

SCOR seeks $125m Atlas Capital 2024-1 multi-peril retro cat bond

France-headquartered global reinsurance company SCOR is back in the catastrophe bond market in search of more peak catastrophe peril retrocession, looking to secure $125 million or more in North America focused coverage from an Atlas Capital DAC (Series 2024-1) issuance. SCOR last sponsored a catastrophe bond one year ago, from which it secured $75 million in […]

Catastrophe bond market yield jumps 7% in April, to reach 12.8%

The total yield of the catastrophe bond market in US dollars has risen by roughly 7% during the month of April, to reach a level of 12.8%, with slightly higher collateral yields plus an 11.5% recovery in insurance risk spreads the key drivers. You can analyse this in our chart that displays the yield of the catastrophe bond […]

Parametric structures minimise or eliminate limitations of ILWs: Skyline Partners

Industry loss warranties (ILWs) remain a useful and well-established instrument within the capital management toolbox of risk carriers, but do have their drawbacks, some of which can be mitigated or removed entirely by a parametric structure, according to Skyline Partners. As parametric insurance, reinsurance, and retrocession structures continue to grow in popularity, Artemis spoke with […]

ESMA launches call for evidence on UCITS eligible assets (including cat bonds)

The European Securities & Markets Authority (ESMA) has now launched a formal call for evidence to support a review of the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD), including what assets should be eligible, with catastrophe bonds one class of assets named. It comes as little surprise, given the review […]

TSR forecasts 15 typhoons, 7 to be intense, in 20% below-norm Northwest Pacific season

With the development of La Nina conditions anticipated during this summer and its persistence through the autumn, Tropical Storm Risk (TSR) has called for the Northwest Pacific typhoon season to see activity levels around 20% below normal, albeit still with 15 typhoons, 7 of which are forecast to be intense. The expectation that La Nina […]

Cat bond spreads widen in secondary market, RMS V23 said having an effect

Over the course of the last month, what had been an environment of catastrophe bond spreads tightening has shifted to one where spread widening has been seen through most of April and into the first week of May, which alongside more balanced supply and demand, some attribute at least in part to the latest hurricane […]

Hong Kong targets insurance-linked securities co-operation with Shanghai

Hong Kong and the mainland China city and financial hub of Shanghai are looking to co-operate on a range of financial initiatives, with one of them being insurance-linked securities (ILS). Representatives of the respective governments, financial regulators and exchanges met last week to discuss how to further enhance financial co-operation between Hong Kong and Shanghai. […]

Insurance Authority cheers launch of US$150 million catastrophe bond

The Insurance Authority (IA) of Hong Kong has recognised the successful issue and listing of a catastrophe bond by the International Bank for Reconstruction and Development, part of the World Bank Group. The bond, amounting to US$150 million, aims to shield Jamaica from storm-related losses through the next four hurricane seasons. FULL ORIGINAL PUBLICATION HERE

Jamaica using own funds to pay risk margin on World Bank catastrophe bond renewal

When Jamaica first ventured into the catastrophe bond market it was with the support of donor funding that paid the premiums for the 2021 issuance, but with its successful renewal issuance of the cat bond settled this week, it transpires that Jamaica has this time paid for the protection out of its own funds. Jamaica had […]