Страховые Ценные Бумаги обладают огромным потенциалом в рамках инициативы “Один пояс, один путь” (ОПОП)

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При ожидаемой стоимости в триллионы долларов и планах по развитию в 68 странах на 3-х континентах, инициатива «Один пояс, Один путь», естественным образом привлекает внимание всех участвующих сторон, как в государственном, так и частном секторах. Asia Insurance Review побеседовал о способах трансфера рисков в данном проекте с Кириллом Саврасовым, Главным Исполнительным Директором специализированной Бермудской компании Phoenix CRetro, фокусирующейся на развитии Страховых Ценных бумаг в регионе ECIS (Западные Балканы, Южный Кавказ, Восточная Европа, Центральная Азия и Турция).

Китайская инициатива «Один пояс, Один путь», является одним из крупнейших инфраструктурных проектов в современной истории человечества. По словам Кирилла Саврасова, руководителя Phoenix CRetro: “В силу масштабности и географического разнообразия, проекты имеющие отношение к ОПОП, безусловно, сталкиваются с многочисленными вызовами и рисками, и для их основоположников и для участников»

Текущие оценки по претворению проекта в жизнь варьируются от 900 млрд. до нескольких триллионов долларов, при основой финансовой нагрузке и работами, осуществляемыми государственными предприятиями.

保险链接债券在一带一路倡议中有潜力

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由于成本预估将超过好几万亿美元,主要设施发展遍及三个大陆上涉及到68多个国家,因此中国的“一带一路”倡议很自然地吸引各种会员国家和工商界的注意。《Asia Insurance Review》采访了专门关注欧洲与独联体国家区域的百慕达Phoenix CRetro保险连接证券公司总裁吉里尔·萨符拉索夫(Kirill Savrassov)商量保险连接证券作为“一带一路”倡议的风险转移选择。

作者:阿努普·哈娜(Anoop Khanna)

中国的“一带一路”倡议应该是现代人类历史上最大的基础设施发展方案之一。Phoenix CRetro Reinsurance公司总裁吉里尔·萨符拉索夫(Kirill Savrassov)指出,“由于其规模和地理的多样化,一带一路相关的项目肯定面临着各种挑战和风险,无论是方案倡议者和其他的所有参与者”。目前该方案实现评价范围在九千亿至几万亿美元,其中最大的金融压力和工作由国有企业承担。

ILS potential within Belt and Road Initiative

With its cost estimated to run into trillions of dollars and main developments spread over 70 countries in three continents, it is natural for China’s belt and road initiative to be in the spotlight of all participating countries and business sectors. As there are massive infrastructure investments in both China and many more nations including its neighboring countries, the (re)insurance industry, together with insurance-linked securities (ILS) community will have its own multi-task opportunities and challenges with regards to the BRI projects. Parametric reinsurance and particularly ILS risk transfer instruments are exact solutions for such issues at the sovereign or provincial government levels.

Watford Re, investment oriented reinsurer backed by Arch, targets IPO

ORIGINAL PUBLICATION HERE

Watford Holdings Ltd., the Arch Capital and Highbridge Principal Strategies backed parent to investment oriented or total-return style reinsurance firm Watford Re, has filed for an initial public offering (IPO) on the Nasdaq.

Watford Re has become a valuable component to Bermudian insurance and reinsurance firm Arch Capital’s strategy to embrace third-party capital, bringing additional efficiency to the firms operations.

Watford Re is backed by third-party, largely institutional investors, and follows a total-return or hedge fund like strategy, in that it underwrites mid to longer-tailed, largely casualty reinsurance business with the assistance of the Arch Capital platform, while asset manager Highbridge Principal Strategies invests its assets in strategies aiming to achieve a higher return than a typical re/insurer would.

As such, Watford Re represents a third-party capital play of sorts for Arch Capital, giving the re/insurer a way to leverage the appetite of institutional investors to access reinsurance risk,  earn fee income, along with enhanced returns from a more active and higher-risk investment strategy.

AM Best forecasts more M&As in Commonwealth Independent States

ORIGINAL PUBLICATION HERE

Insurers working across the Commonwealth Independent States (CIS) of former Soviet Russia can expect to see further consolidation in their sector, according to the latest special report from AM Best.

The report said mergers and acquisitions (M&As) have been driven in part by companies trying to gain the “critical mass” they need to operate efficiently in a challenging market. Companies will “seek to improve efficiency and strengthen their business profile” through consolidation, it said.

The report identifies various pressures for re/insurers from evolving regulations to limited options for investment and fluctuating currencies.

Leadenhall backs start-up insurer to access accident & health risks

ORIGINAL PUBLICATION HERE

Specialist insurance and reinsurance linked investment manager Leadenhall Capital Partners has completed another financing of a start-up insurer that it hopes will secure it with access to attractive accident & health risks for its life portfolio.

Leadenhall Capital Partners is backing Sutton National Insurance Company, a program business focused property, casualty, life and health multi-line underwriting company that is being launched by investors along with the ILS fund manager’s support.

Sutton National Insurance Company, “the rebranded insurer previously owned by QBE” we were told by Leadenhall, aims to provide program fronting services to managing general agencies (MGA’s).

Leadenhall is investing through its life insurance-linked securities (ILS) fund strategies to support the launch of Sutton National Insurance Company, providing capital for the business and building a partnership that may help it to source risks for its funds in an efficient manner.

China: President Xi warns of risks across wide spectrum of activities

ORIGINAL PUBLICATION HERE

Chinese President Xi Jinping has told senior officials to strengthen their ability to prevent and defuse major risks to ensure sustained and healthy economic development and social stability, according to the Xinhua news agency.

In his speech, Mr Xi who is also general secretary of the Communist Party of China (CPC), highlighted major risks in areas including politics, ideology, economy, science and technology, society, the external environment and Party building.

He was speaking at the opening ceremony of a study session last week at the Party School in Beijing that was attended by senior provincial and ministerial officials.

Hiscox Re ILS funds participate in Philippines sovereign parametric renewal

ORIGINAL PUBLICATION HERE

Hiscox Re ILS deployed capacity into the recent renewal of the Philippines sovereign parametric disaster insurance facility, adding to the amount of third-party capital now backing this risk transfer program.

The Philippines parametric natural disaster insurance cover provides 25 provinces in the country with disaster insurance cover against major typhoon and earthquake events.

For 2019, the program was renewed at $390 million in size, which is almost double the prior year and a number of new markets signed onto the program in this expansion, one of which was reported by the World Bank to be Hiscox Re.

Artemis has learned that a significant proportion of Hiscox Re’s capacity deployed into this Philippines parametric insurance renewal was backed by the  Hiscox Re ILS funds.

Swiss Re sets up EU entity for derivative & ILS continuity post-Brexit

ORIGINAL PUBLICATION HERE

Global reinsurance firm Swiss Re has established a new European entity in Luxembourg named Swiss Re Capital Markets Europe, S.A. to ensure it has trading continuity for derivative contracts in the weather and energy risk transfer space, as well as ILS instruments, after Brexit.

With the UK’s position in the European Union still uncertain and Brexit still ploughing ahead, companies in insurance and reinsurance have been setting up new trading entities if required to provide continuity for partners and ceding clients.

Swiss Re is particularly active in the weather risk transfer and energy risk space, with financial derivatives a key tool that the firm uses in servicing its corporate clients in this space and facilitating their weather hedging needs.

ILS a requirement to remain competitive as a re/insurer: JMP

ORIGINAL PUBLICATION HERE

The use of insurance-linked securities (ILS) structures and access to third-party capital are essential requirements now for a reinsurance company to remain competitive in the evolving and challenging marketplace, according to analysts.

Mergers and acquisitions (M&A) in reinsurance has clearly evidenced the appetite of major insurance and reinsurance players to embed the access to alternative capital within their traditional business models.

ILS expertise is now seen as a key requirement, as evidenced by a number of hires over recent years where we’ve seen expertise in the capital markets side of reinsurance brought into some very traditional re/insurance companies.