Philippines gets $500m World Bank catastrophe contingent credit line
The Philippines has received more catastrophe protection with the help of the World Bank, as its government has signed up to another $500 million catastrophe contingent line-of-credit through a new Catastrophe-Deferred Drawdown Option arrangement, dubbed CAT-DDO 4. The Philippines has benefited from these novel catastrophe contingent credit arrangements before, having had two specific Catastrophe-Deferred Drawdown […]
Alphabet (Google) targets $250m+ third quake catastrophe bond
Google’s holding company parent Alphabet, Inc. has returned to the catastrophe bond market for the third time, as it seeks to add another $250 million or more of California earthquake risk protection to its insurance arrangements with the help of insurance-linked securities (ILS) investors in a Phoenician Re Ltd. (Series 2021-1) issuance. This is going to […]
ILS fees can be a “significant contributor” to reinsurers earnings: Moody’s
Insurance-linked securities (ILS) related fee income and profit shares can become a “significant contributor” to the earnings of insurance and reinsurance firms that manage third-party capital, according to rating agency Moody’s. While the vast majority of reinsurers already leverage alternative capital and insurance-linked securities (ILS) within their retrocession arrangements, some have gone further to integrate […]
World Economic Forum: How catastrophe bonds help manage the risk of climate change
Extreme weather events around the world are on the rise as a consequence of climate change. The market in catastrophe bonds could grow to $50 billion by the end of 2025. Insurers use the securities to shield themselves against losses from consequences of climate change such as natural disasters. Wildfires, hail storms and a deep […]
Cat bonds – a bridge between private capital & humanitarian needs: Howden
Catastrophe bonds and other insurance or reinsurance related solutions can be a bridge between the private capital markets and humanitarian project funding needs, according to David Howden, CEO of Howden Group. Speaking at an event of the COP26 climate conference in Glasgow yesterday, Howden explained that the wealth of private capital locked up and often […]
The Belt and Road Ministerial Forum for International Cooperation in Disaster Risk Reduction and Emergency Management 2021
FULL PUBLICATION BY CHINA DAILY HERE
German Gov commits €18m to subsidize ARC climate cover
Alongside the United Nations 2021 United Nations Climate Change Conference (COP26), the Government of Germany has committed €18 million to subsidize the cost of disaster risk insurance for qualifying African Risk Capacity (ARC) Group Member States. In a statement, the Parliamentary State Secretary to the Federal Ministry for Economic Cooperation and Development (BMZ), Maria Flachsbarth, […]
Humanitarian risk transfer in focus at COP26 with Start Network & IDF partnership
The Start Network, an international network of non-governmental humanitarian organisations, is partnering with the Insurance Development Forum (IDF) on the creation of a new financial service for the humanitarian sector, with parametric triggers and risk pooling at its heart. Named Start Ready, the new humanitarian funding paradigm is designed to help communities to get ahead […]
COP26: An opportunity for re/insurance & ILS climate leadership
On Monday November 1st 2021 at the United Nations (UN) Framework Convention on Climate Change Conference of the Parties (COP26) in Glasgow, United Kingdom, it became clear that this is a moment in time where the insurance, reinsurance and insurance-linked securities (ILS) industries have an opportunity to display climate leadership. One of the clearest signals […]
Cat Bonds & Related ILS Reach New $17bn Annual Issuance Record
Catastrophe bond and related insurance-linked securities (ILS) new issuance has now reached $17 billion in 2021, setting a new annual record for the total tracked by our Artemis Deal Directory. It’s also notable that issuance of new Rule 144A property catastrophe bonds has surpassed $10 billion now for the second year running and only the second […]
