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Insurance Day: Insurers must beware expansion of Ukraine sanctions

 ID_logoORIGINAL PUBLICATION HERE

As tensions have escalated in eastern Ukraine in recent weeks with Russia consolidating its grip on Crimea, and thousands of Russian troops remain massed near the Ukrainian border, speculation has mounted that US and EU Sanctions Regimes in General may be widened. How would such sanctions be applied in practice and how would they be operated?

To date, sanctions have been enforced on a very narrow circle of contacts and influencers close to the Russian regime. However in case of further escalation a much wider range of (economic) sanctions remain available, including: trade embargoes, export controls, asset freezes, travel bans, “targeted sanctions”, activity-based sanctions and restrictions on financial assistance.

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C5’s Reinsurance and Capital Markets Convergence Forum

downloadLINK TO THE EVENT. DOWNLOAD A BROCHURE HERE

Please note that as members of our team are amongst speakers to the event any referrrals automatically entitled 15% discount off the conference price. So quote Phoenix CRetro if considering to participate.  

Capital from the alternative markets currently totals 14% of the global property catastrophe reinsurance limit up from only 8% in 2008*. As investors increase their offering of alternative risk transfer solutions such as insurance linked securities, the impact on the traditional reinsurance market is already being felt with fierce competition leading to softening rates.

Randall & Quilter still working on exit solutions for ILS investors

ORIGINAL PUBLICATION HERE

Specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings continues to develop solutions to provide insurance linked investors with exit strategies in the event of a claim.

Randall & Quilter first revealed the existence of this product development in its 2012 results, when it said that it was exploring an opportunity to enter the insurance linked securities market with a product designed to provide ILS investors with a way to access liquidity for investments hit by claims.

One of the issues for investors in the ILS space is the fear of having capital locked up for long periods in the event of difficult or lengthy claims processes. It’s often been said that investors would likely take a haircut to their investment in return for gaining liquidity of their assets enabling them to be reinvested, this is perhaps the kind of product offering that Randall & Quilter has been looking into.

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TSR lowers 2014 Atlantic hurricane season forecast, cites El Niño

artemisORIGINAL PUBLICATION HERE

Tropical Storm Risk (TSR) has published an updated and lowered quantitative forecast for the 2014 Atlantic tropical storm and hurricane season citing the likely development of moderate El Niño (ENSO) conditions.

TSR was one of the first forecasters to provide an early outlook for the 2014 hurricane season back in December when it forecast 14 named tropical storms, 6 hurricanes and 3 major (Category 3+) hurricanes between the months of June and November in 2014.

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Proud sponsor of the regular Belarus networking event in the City of London by BBCC

OWN INFORMATION

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Phoenix CRetro is proud to become a title sponsor of regular monthly Belarus networking event organised by the British-Belarus Chamber of Commerce.

Event will be held every last Monday of each month from 4 pm in a landmark Baltic Exchange location (Balls Brothers) and bring together Chamber members, mutually interested businesses and open for everyone having current or potential involvement with Eastern Europe.

Philippines continues prep for cat bonds with the World Bank

ORIGINAL PUBLICATION HERE

The Philippines is continuing its investigation and feasibility studies with the World Bank, looking at the possibility of issuing catastrophe bonds to protect the Asian nation from natural catastrophes such as earthquakes or typhoons.

Finance Secretary Cesar Purisima said yesterday at a Washington IMF and World Bank meeting that the Philippines was talking with the World Bank about issuing catastrophe bonds to better protect the country from extreme weather events such as last years Super Typhoon Haiyan, according to Reuters.

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Reinsurers turn to alternative capital – Aon Benfield

Oins insider whiteRIGINAL PUBLICATION HERE

Traditional reinsurers have begun to use alternative capital to help them match the cheaper prices offered by non-traditional rivals, global broker Aon Benfield said today (4 April) in its report on the 1 April policy renewals.

Reinsurers are increasingly relying on alternative capital providers for cheap retrocession cover through sidecars and other means, attracting support from investors that are not competing directly with them for cedants’ business.