AM Best flags uncertainties for Sub-Saharan reinsurance market
Analysts at AM Best have flagged a host of uncertainties that may impede the near-term prospects of the reinsurance market in Sub-Saharan Africa (SSA), despite its significant expansion over the past decade. The rating agency notes that gross written premium in the SSA reinsurance market has grown at a 10-year compound annual growth rate of […]
Building resilience to climate change is of paramount importance in Africa: ARC
Ahead of COP27, the African Risk Capacity (ARC) outlines the importance of parametric insurance on the African continent, highlighting the need for further collaboration with more developed nations. ARC provides parametric insurance services to African Union member states and farmer organisations to pool disaster-related risk across Africa and transfer it to international risk markets. Since […]
Summer 2022 cohort of our course has passed the qualification exam
Our sincere congratulations to the 4th cohort: Timothy Nielander, Shib Shankar Saha, Suguru Fujita, Richard Griffiths, Dewald Cillie, on obtaining “Certified ILS specialist” qualification with impressive average pass ratio of 92% at the exam. Kirill & Toby
Hong Kong Insurance Authority: Decoding Premium Financing and its Risks
What is Premium Financing? Premium financing is an insurance funding arrangement whereby a policy holder borrows funds from a financial institution (usually a bank) to pay the premium of a new insurance policy, and in doing so, assigns all or part of the rights under the proposed policy as collateral to the financial institution. In […]
ILS managers with stable, deployable capital well-positioned
Two factors are currently being looked on very favourably by any institutional investors that are researching the insurance-linked securities (ILS) asset class, the stability of an ILS investment managers’ assets over recent years, and importantly how the amount that was actually deployable has fluctuated. End-investors we’ve spoken with, that are looking to either make their […]
Focus on the ‘resilience gap’
The industry should talk about the ‘resilience gap’ rather than the protection gap, says UN Development Program advisor Daniel Stander. The insurance industry will never be able to entirely close the protection gap—and the same is true for the public sector. That’s why the United Nations Development Program’s (UNDP) senior advisor Daniel Stander believes the […]
ILS market needs to defend improved terms & conditions: Grandi, Twelve Capital
The insurance-linked securities (ILS) market needs to defend the gains it has made in improved terms and conditions, making sure technical underwriting standards are maintained, Marcel Grandi of investment manager Twelve Capital has said. Speaking to Artemis around the 2022 Monte Carlo Rendezvous reinsurance event, Marcel Grandi, Head of ILS Sourcing at Twelve Capital explained […]
African Risk Capacity Presents Award
The Bermuda Business Development Agency [BDA] said they were pleased to facilitate an important dialogue and award presentation between the board of directors of African Risk Capacity Limited [ARC Ltd.] and Bermuda’s Deputy Premier. A spokesperson said, “To recognise the formation of ARC Ltd. being formed in Bermuda ten years ago, ARC Ltd.’s board of […]
Santam passes most of $257m flood loss to reinsurers
South African insurer Santam has reported its results for the first six months of 2022, which include a gross exposure of R4.4 billion (USD 257 million) to flooding in the KwaZulu-Natal province. However, the company’s net impact from the floods was limited to R566 million (USD 33 million) thanks to its reinsurance program, meaning reinsurers […]
African Risk Capacity (ARC) seeks cost-efficiency and capacity
The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and now other entities in Africa, wants to become the continent’s disaster risk financing provider of choice, but increasing its capacity and lowering-costs for country members remains key. Efficiency has always been important for the African Risk Capacity (ARC), particularly in […]
