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Нацбанк разрешил «Брокбизнесу» перевести полмиллиона долларов на депозит в американском банке (in Russian)

logo kapital uaORIGINAL PUBLICATION HERE 

Страховая компания «Брокбизнес» в конце сентября первой среди рисковых страховщиков Украины получила индивидуальную лицензию Национального банка на перевод иностранной валюты за пределы страны. Информацию об этом «Капиталу» подтвердила бермудская компания Phoenix Cretro, назвав «Брокбизнес» своим новым украинским партнером на рынке международного перестрахования. По данным Phoenix Cretro, лицензия НБУ «Брокбизнесу» понадобилась для перевода валюты за рубеж в качестве залога по договору международного перестрахования.

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IBM adds cat bonds to mix as it diversifies return-seeking assets

pensionORIGINAL PUBLICATION HERE 

IBM Pension Plan has invested £60m in catastrophe bonds as it decreases its exposure to higher-risk assets and focuses on investments that will provide a diversified source of return.

Catastrophe bonds are centred on natural disasters and are highly concentrated on US wind risks, such as hurricanes.

The scheme’s most recent annual report, released in July, announced a move into reinsurance made at the end of last year.

Pioneer files offering for launch of new Interval ILS Fund

ORIGINAL PUBLICATION HERE

Pioneer Investments, a U.S. based mutual fund manager with a number of strategies that already include exposure to insurance-linked securities and reinsurance-linked assets, has filed documents with the SEC for a new interval ILS fund, its first dedicated ILS strategy.

An ‘interval’ fund provides investment managers with a way to target a less-liquid portfolio of assets while offering investors liquidity opportunities at regular intervals. In this way the asset manager can retain some control over redemption volumes, while still leveraging less-liquid, often higher return ILS assets.

Pioneer, a long-time manager of ILS assets (with over $1 billion of reinsurance linked under management), is not the first to look to the interval closed-end fund structure as a way to bring less-liquid ILS assets to its mutual fund investors. New York based Stone Ridge Asset Management launched an interval fund in 2013 to invest in less liquid ILS and reinsurance assets such as sidecars and private deals with great success, raising over $760m for the strategy by the end of April 2014.

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xprimm: CEE insurer gets first licence to post collateral abroad

xprimmcom_TEXT NOUORIGINAL PUBLICATION HERE 

The National Bank of Ukraine has granted the first license permitting a domestic insurer to post collateral in a bank outside of the Central and Eastern Europe (CEE) region.

Ukrainian insurer Brokbusiness was given approval to post collateral directly into a designated Western bank as part of its retro reinsurance capacity provision.

It was assisted by strategic partner Phoenix CRetro, a Bermuda-based retrocession carrier. Read the full story

artemis

A.M. Best publishes new re/insurance transformer rating criteria

artemisORIGINAL PUBLICATION HERE 

Insurance and reinsurance rating agency A.M. Best has now published the final version of its insurance-linked securities (ILS) market focused criteria report titled “Rating Reinsurance/Insurance Transformer Vehicles.”

A draft version of the report was published at the beginning of August, as we wrote at the time, with a 30 day consultation period available for any market participants who wanted to comment, question or contribute to the thinking behind this criteria.

Pension funds still attracted to ILS investments, as new mandate shows

ORIGINAL PUBLICATION HERE

There has been a lot of discussion lately about whether pension funds would be among the first investors to lose their attraction to the current market environment of lower reinsurance and catastrophe bond pricing by turning heel and exiting the sector.

However the opposite appears to be largely true, with some pension fund investors keen to increase their allocations to the space, when market conditions allow, while still more want to enter the sector (as evidenced by new mandates) and others continue to do their research into insurance and reinsurance linked investments.

There have been a number of cases in recent weeks of pension funds which have been invested in insurance-linked securities (ILS) for a number of years pulling back as a reaction to the lower pricing environment. For some investors, who entered the ILS asset class purely due to the returns of the last few years, the decline in pricing makes the sector less attractive. This is an expected consequence of the lower price environment, but not all pension funds are the same or have the same motivations.

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Insurance Insider: CEE insurer gets first licence to post collateral abroad

ins insider whiteORIGINAL PUBLICATION HERE 

The National Bank of Ukraine has granted the first licence permitting a domestic insurer to post collateral in a bank outside of the Central and Eastern Europe (CEE) region.

Ukrainian insurer Brokbusiness was given approval to post collateral directly into a designated Western bank as part of its retro reinsurance capacity provision.

It was assisted by strategic partner Phoenix CRetro, a Bermuda-based retrocession carrier.

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Bermuda:Re+ILS: Phoenix CRetro partner licenced in Ukraine

Bermuda Re logoORIGINAL PUBLICATION HERE 

A strategic partner of Bermudian niche reinsurer Phoenix CRetro has been licenced to post collateral abroad as part of its retro reinsurance capacity provision.

BROKBUSINESS, a Ukraine-based insurance company, has been awarded the licence from the National Bank of Ukraine which will allow it to post collateral directly into a designated western bank as part of collateral trust arrangements.

intelligent insurer

Intelligent Insurer: Phoenix CRetro branches into Ukraine

intelligent insurerORIGINAL PUBLICATION HERE 

Ukraine-based insurance company BROKBUSINESS, a strategic partner of Bermudian niche reinsurer Phoenix CRetro, has been awarded a licence from the National Bank of Ukraine to post collateral abroad as part of its retro reinsurance capacity provision.

The licence, the first of its kind throughout Central and Eastern Europe, is expected to open up new opportunities in the international insurance-linked securities markets.

artemis

UN continues push for “loss & damage” solution. Cat bonds feature

artemisORIGINAL PUBLICATION HERE 

The United Nations continues to move forwards, albeit slowly, its goal to address the issue of “loss and damages” from natural disasters and weather related climate risks, and catastrophe bonds, alongside other risk transfer tools, are set to feature.

The UN has been working with industry and various other international organisations on recommendations to address the issue of rising disaster losses, growing impacts of weather and climate related risks and the needed initiatives, both financial and practical or physical, to increase resilience to these threats.