Chile seeks $150m parametric quake cat bond via the World Bank’s IBRD
The Republic of Chile is aiming to secure $150 million of parametric earthquake disaster insurance protection through a new IBRD – Chile 2023 transaction that is being issued by the World Bank’s multilateral development bank, the International Bank for Reconstruction and Development (IBRD). The IBRD – Chile 2023 catastrophe bond is the first issuance to come to […]
Chile seeks $150m parametric quake cat bond via the World Bank’s IBRD
The Republic of Chile is aiming to secure $150 million of parametric earthquake disaster insurance protection through a new IBRD – Chile 2023 transaction that is being issued by the World Bank’s multilateral development bank, the International Bank for Reconstruction and Development (IBRD). The IBRD – Chile 2023 catastrophe bond is the first issuance to come to […]
ILS funds can and should manage trapped collateral to eliminate non-performing assets: Replexus
Notable in the wake of Hurricane Irma in 2017, trapped collateral is an ongoing issue for the insurance-linked securities (ILS) space. But through tools available within the capital markets, funds can manage extensions and put an end to non-performing assets. This is the view of Cedric Edmonds, founder of Replexus, an independent marketplace for insurance […]
Swiss Re sidecar & ILS fund AuM rises 29% in 2022, alt capital fees rise 36%
Global reinsurance company Swiss Re grew its collateralized reinsurance sidecar and insurance-linked securities (ILS) fund assets under management by 29% in 2022, lifting the third-party investor total to $2.9 billion. At the same time, Swiss Re has also disclosed this morning that its Alternative Capital Partners business delivered 36% more in annual fee income earned […]
Riverstone gets $305m multi-year collateralised reinsurance funded via JP Morgan
In a major deal that is similarly structured to the landmark Lloyd’s Central Fund reinsurance arrangement from 2021, legacy acquisition focused Lloyd’s specialist underwriter RiverStone International, has secured $305 million of multi-year collateralised reinsurance, with funding led by investment bank JP Morgan and transacted via a White Rock cell structure. Riverstone is a significant player […]
Diversifying assets in focus as investor fear of volatility to persist
Investors around the world continue to fear a return of the stocks and bonds volatility seen in 2022 and as a result diversifying and uncorrelated assets are increasingly being sought out, which is positive for the insurance-linked securities (ILS) asset class. In a recent Reuters article, a range of institutional investors explained how they are […]
ILS – a nascent asset class and exceptional opportunity: Conyers, Neuberger Berman
The insurance-linked securities (ILS) market is undergoing a “dramatic repricing”, leading to a situation that Alex Conyers of Neuberger Berman explains as “an exceptional opportunity for investors looking for non-correlated returns.” “Few asset classes can offer sizable, floating rate returns with no correlation to broader financial markets,” Conyers, a Senior Vice President in the Neuberger […]
UCITS cat bond funds add $200m to AuM in January, near $9bn as a group
Catastrophe bonds in the UCITS format have continued to add assets under management (AuM) at the start of 2023, with a further almost $200 million gain in January, taking the combined assets of those cat bond funds tracked to almost $9 billion. The overall assets under management (AuM) of the main UCITS catastrophe bond funds has been […]
Cat bond market finds equilibrium as spreads stabilise higher: Plenum
Spreads in the catastrophe bond market, in terms of both new primary cat bond issuance and secondary marks, appear to have stabilised, signalling the market finding a new equilibrium at higher premiums, Plenum Investments has said. Zurich-headquartered catastrophe bond investment manager Plenum believes that spreads have now stabilised at their new higher levels. Recently issued […]
2023 an opportunity to invest in ILS on attractive historic yields: Cambridge Associates
Independent investment management giant Cambridge Associates LLC is bullish on the outlook for insurance-linked securities (ILS) investing in 2023, believing the higher yields on offer provide a good return opportunity relative to risk. But they caution that investors should review the ILS asset class on a regular basis. It’s sound advice from the investment giant […]