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Инвестиции, связанные со страхованием

Phoenix logo on topСКАЧАТЬ В ФОРМАТЕ PDF МОЖНО ЗДЕСЬ

Краткое резюме

Данный вид инвестиций (известный как «ILS») предлагает хорошую доходность по одной простой причине: Страховщики готовы платить высокие премии для “размывания” риска крупной, но маловероятной катастрофы, которая в случае наступления может нанести им непоправимый финансовый урон.

Инвесторы же имеют возможность принять на себя часть такого риска, работая при этом с чистой «страховой» (вероятностной) составляющей в отличие от инвестиций в основной капитал или кредитовании страховой компании, дополнительно влекущих целый набор операционных, кредитных, рыночных и пр. рисков.

Bermuda Re logo

Hedge fund reinsurers: 
are the rewards worth the risk?

Bermuda Re logoORIGINAL PUBLICATION HERE

The plethora of new hedge fund-backed reinsurers that continue to be launched will carve out a niche in the industry—but perhaps not at the expense of the big, global reinsurers, argues Taoufik Gharib from Standard & Poor’s Insurance Ratings.

During the past few years, the hedge fund reinsurer (HFR) model has emerged in Bermuda and the Cayman Islands. HFRs are now competing with traditional reinsurers and alternative capital (also referred to as convergence capacity, third-party capital, and collateralised reinsurance) for business in what is becoming a soft reinsurance market. The multi-billion dollar question is: how viable and sustainable is the new HFR model?

artemis

Asian countries continue to develop catastrophe re/insurance markets

artemisORIGINAL PUBLICATION HERE

Countries across Asia continue to develop, or pursue the development of, functioning catastrophe insurance and reinsurance markets, which is a positive sign for global reinsurers and the insurance-linked securities (ILS) market.

Countries across Asia are some of the most natural disaster exposed in the world, but at the same time have very low insurance penetration, meaning that development of catastrophe insurance and reinsurance markets has been slow. But there are now signs that things are accelerating in the region, helped by the increasing interest of the global reinsurance players and ILS and collateralized markets.

artemis

Pension funds appetite for alternatives increases, positive for ILS

artemisORIGINAL PUBLICATION HERE

A significant number of pension funds show an increased appetite for investment risk and alternative asset classes, according to State Street, which could result in more allocations to insurance-linked securities (ILS) or reinsurance linked investments,

As reported previously by Artemis part of the reason the alternative asset class space, which includes ILS, catastrophe bonds and reinsurance linked investments, has witnessed continued growth is down to institutional investors, like pension funds, increased shift towards the market.

Bermuda Re logo

Bermuda:Re+ILS: CEE regulators still blacklisting Bermuda

Bermuda Re logoORIGINAL PUBLICATION HERE

Regulators and banks in Central Eastern Europe (CEE) are continuing to blacklist Bermuda, meaning that insurers in the region are unable to make the most of Bermuda’s vast offering. 

“The general attitude of central banks and regulators in CEE is a misunderstanding of Bermuda. Despite being the first offshore territory to be taken off the blacklist and having bilateral agreements with a number of markets, many banks and regulators do not want insurers working with companies based on Bermuda,” said Kirill Savrassov, chief executive officer of Phoenix CRetro Reinsurance Company. 

artemis

Hannover Re’s LI Re deal sees it acting as private cat bond facilitator

artemisORIGINAL PUBLICATION HERE

The recent $10.37m LI Re (Series 2014-1) securitization of a segregated cell of reinsurance company Hannover Re’s Bermuda segregated accounts insurer Kaith Re Ltd., was a property catastrophe insurance-linked security (or catastrophe bond) it transpires.

When we wrote about the LI Re deal just over a week ago, we suggested that it might be a retrocession transaction benefiting Hannover Re, where the reinsurer was using the cell and the securitization to transfer a portion of its retro vehicle to capital market investors.