China regulator calls on insurers to sponsor cat bonds in Hong Kong
China’s insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks. The China Banking and Insurance Regulatory Commission (CBIRC) said in a notice that domestic Chinese insurers sponsoring catastrophe bonds out […]
Germany contributes $40.9M to risk transfer initiative
The United Nations Development Programme said Monday that the German government has contributed €35 million ($40.9 million) in funding for a new risk transfer initiative, the Insurance and Risk Finance Facility, within its Finance Sector Hub. The goal is to co-create insurance and risk finance solutions in over 50 developing countries by 2025 and contribute […]
China regulator calls on insurers to sponsor cat bonds in Hong Kong
China’s insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks. The China Banking and Insurance Regulatory Commission (CBIRC) said in a notice that domestic Chinese insurers sponsoring catastrophe bonds out […]
Red Cross volcano cat bond issuance recognised for ESG credentials
The first parametric catastrophe bond covering pure volcanic eruption risk, which was brought to market by Replexus and Howden Capital Markets and for the Danish Red Cross has been recognised for its environmental, social and governance (ESG) credentials. The Guernsey International Insurance Association (GIIA) has awarded its first environmental, social and governance (ESG) accreditation to […]
CEA’s risk transfer returns to $9.6bn. Short-term future needs less certain
The California Earthquake Authority (CEA) increased the size of its reinsurance and catastrophe bond risk transfer program by around 4.4% as of the end of July 2021, to reach almost $9.6 billion, but in the short-term future growth of the program seems less certain due to rising exposure and the cost of coverage. That’s practically […]
Mexico struck by M7.0 quake. World Bank cat bond appears safe
A magnitude 7.0 earthquake has struck the Pacific coast of Mexico close to the tourist heavy area of Acapulco. At this stage, it appears the World Bank facilitated IBRD / FONDEN 2020 parametric catastrophe bond that provides the Mexican government with earthquake insurance protection is safe from loss, but it is hard to be certain on […]
Abu Dhabi Investment Authority expanded its ILS portfolio in 2020
The Abu Dhabi Investment Authority (ADIA), a sovereign wealth investment fund owned by the Emirate of Abu Dhabi and tasked with investing funds on behalf of the Government of the Emirate, expanded its insurance-linked securities (ILS) allocations last year, as it put an increasing emphasis on asset classes that offer relatively uncorrelated returns. ADIA first […]
ILS capital returns to previous record level of $97bn: Aon
Helped by a record period of catastrophe bond issuance in the first-half of 2021, alternative capital levels in reinsurance, largely in insurance-linked securities (ILS) formats, have now returned to their previous record year-end level of $97 billion, according to Aon. As of the half-way point of 2021, Aon’s Reinsurance Solutions counts total global reinsurance capital […]
CCRIF makes $2.4m parametric rainfall payout to Trinidad & Tobago
The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has made a US $2.4 million payout to Trinidad & Tobago after the Caribbean nations parametric excess rainfall insurance policy was triggered recently. Including this latest payout, the CCRIF’s parametric disaster insurance policies have now paid out 54 times, amounting to $245 million […]
Zenkyoren targets $500m Nakama Re cat bond out of Singapore
Zenkyoren, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives and one of the world’s largest buyers of catastrophe reinsurance protection, is back in the insurance-linked securities (ILS) market, targeting a $500 million Nakama Re Pte. Ltd. (Series 2021-1) catastrophe bond issuance to transfer more of its earthquake exposure to the capital markets. This will be […]
