Descartes & Reask partner to expand parametric cyclone covers
Descartes Underwriting, the insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, is partnering with Reask, a climate analytics and data company that uses machine learning techniques. The partnership is focusing on tropical cyclone risk transfer, with the pair hoping to “push the frontier of parametric windstorm […]
Chinese insurers sponsoring HK cat bonds get favourable capital treatment
Credit risk charges for mainland China insurance and reinsurance company sponsors of catastrophe bonds issued through Hong Kong insurance-linked securities (ILS) structures will be lower than the capital charges applied for ceding risk to reinsurance companies. Chinese regulator, the China Banking and Insurance Regulatory Commission (CBIRC), has now included preferential treatment rules for the Hong […]
