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Insurers reiterate call for TTIP inclusion

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Insurance lobbying groups on both sides of the Atlantic have reiterated their support for the sector’s full inclusion within the TTIP trade deal.

The American Insurance Association, Insurance Europe, and the American Council of Life Insurers have reiterated their support for the full inclusion of insurance and other financial services in the Transatlantic Trade and Investment Partnership (TTIP).

The industry associations are collectively lobbying for the life and non-life insurance sectors in the US and the EU.

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Iran establishes professional panel to discuss ILS ambitions

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A professional panel met recently to discuss the establishment of guidelines and frameworks that would facilitate the utilisation of insurance-linked securities (ILS) business in Iran, according to the Insurance Research Center (IRC).

Iran is reportedly looking at establishing itself as a domicile for ILS business operations, with this group meeting to discuss the relevant steps required for the country to become a facilitator of ILS capital and structures.

“The aim of this professional panel is to investigate the methods of transforming insurance risks to securities, to explore ILS’ various components and their economic justifications, and to identify the necessities and required infrastructure for their development in Iran,” said Dr. Amir Safari, Head of the IRC and Secretary General of the Board.

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Cat bond & ILS market still in its infancy, plenty of room to grow: PCS

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Repeat sponsors dominated catastrophe bond and insurance-linked securities (ILS) issuance in the first-half of 2016, as cat bond lite and traditional 144A issuance contracted. However, typical sponsor issuance cycles and continued innovation suggests there’s still plenty of room for growth.

For consecutive years, catastrophe bond issuance in the first-half of 2016 declined when compared to the previous year, with $2.8 billion (this excludes cat bond lite deals, private transactions, and deals focused on business outside of property catastrophe lines) of new issuance January through June, according to a new report from PCS that utilises data from the Artemis Deal Directory.

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Non-life re/insurance growth highlights ILS influence and opportunity

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Swiss Re has revealed that the advanced markets of the world recorded solid non-life insurance and reinsurance premium growth in 2015, while overall, the sector’s capitalisation remains strong.

ILS, with its focus on non-life markets was likely a contributor to the expansion of non-life markets in 2015, and has an opportunity to deepen its relationship with the global non-life re/insurance space.

Advanced non-life markets, with the exception of Oceania, which remained flat (0.1%), all recorded insurance and reinsurance premium growth in 2015, ranging from 4.1% in advanced Asia, 3.2% in North America, to 1.5% in Western Europe.