В России проработают меры обязательного страхования в районах с рисками ЧС
Правительство России к ноябрю проработает предложения о целесообразности обязательного страхования граждан в районах с высокими рисками возникновения чрезвычайных ситуаций. Соответствующий пункт содержится в списке поручений по результатам совещания о ликвидации последствий ЧС на Дальнем Востоке, опубликованном на сайте кабмина. «Представить предложения о целесообразности использования комплексного механизма обязательного страхования имущества физических и юридических лиц, а также жизни и здоровья […]
ESG credentials of ILS attracting new investors & issuers: John Seo, Fermat
The environmental, social and governance (ESG) credentials of the insurance-linked securities (ILS) market have become a key driver for issuance activity, according to John Seo of Fermat Capital Management, LLC. The insurance-linked securities (ILS) asset class has experienced positive momentum and growth over the last year, with catastrophe bonds one area that has experienced particularly […]
China urges focus on disaster insurance product development
The Chinese government via its regulator has urged its insurance and reinsurance industry to focus on developing new products for disaster risk transfer and to help in covering more of the natural catastrophe risk in the country, given the current evident protection gap that exists. Recent flooding in Henan province in China has provided yet […]
Lloyd’s calls for re/insurance, investor & Gov work on disaster risk financing
The Lloyd’s insurance and reinsurance market has put out a call for a coordinated effort to enhance the disaster resilience of developing and developed economies, by bringing together the re/insurance sector with investors and governments to create new financial solutions. Lloyd’s launched a new report today called Insuring a sustainable, greener future, which it says […]
Red Cross targets cat bonds for nature-based, humanitarian, resilience financing
The Red Cross, working alongside insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy Replexus Group, is developing a solution to promote nature-based solutions to disaster risk, financed partly through the use of catastrophe bonds, as well as other humanitarian and development scenarios. Recently, the Danish Red Cross successfully delivered the world’s very first […]
Insured losses from China’s Henan floods could exceed $1.25bn, says Fitch
The recent severe flooding in China’s Henan province is expected to suppress underwriting margins for the China non-life insurance and reinsurance industry in 2021, with total industry losses expected to exceed US $1.25 billion, according to Fitch Ratings. At this level of insurance and reinsurance industry loss, it would account for more than 0.7% of […]
FEMA plans new NFIP flood cat bond, seeks reinsurance transformer
The U.S. Federal Emergency Management Agency (FEMA) is planning to sponsor another FloodSmart Re catastrophe bond to provide flood reinsurance to the National Flood Insurance Program (NFIP) and is seeking proposals from potential reinsurance transformer partners. FEMA has secured $1.775 billion of collateralized reinsurance from the capital markets across four catastrophe bonds issued under the […]
Cat bond not a “handout”, Jamaica aims to renew by itself: Minister
The fact foreign donors paid for the premiums associated with Jamaica’s first catastrophe bond does not mean it was a “handout” the country’s Minister of Finance has explained. Jamaica’s first catastrophe bond, the recently placed IBRD CAR 130 transaction, was priced and saw the Caribbean island nation securing the upsized target of $185 million of coverage […]
Hong Kong’s ILS regime must show its competitiveness: ILS Asia 2021
While the Hong Kong regulator’s insurance-linked securities (ILS) grant scheme is expected to attract sponsors to the region, the new regime must show its competitiveness against existing and established ILS domiciles, say industry experts. Hong Kong’s emergence as a new Asian domicile for the issuance of catastrophe bond and ILS transactions provides sponsors with another […]
Jamaica’s cat bond priced at upsized $185m, ILS funds take 66% of notes
Jamaica’s first catastrophe bond, the IBRD CAR 130 transaction, has now been successfully priced and the Caribbean island nation has secured the upsized target of $185 million of coverage, with pricing closer to the upper-end of guidance. Dedicated insurance-linked securities (ILS) investment funds took the lions share of the cat bond notes on offer, absorbing 66% […]
