News

ILS Related

Cherry picked selection of news on Insurance-Linked Securities, Disaster Risk Finance, Reinsurance and other matters related to our activities.

Can insurance-linked securities mobilize investment in climate adaptation?

ORIGINAL PUBLICATION HERE The cost of adapting to climate change increases every year. Between now and 2030, adaptation in developing countries is projected to cost US$180 billion annually and skyrockets to US$280-500 billion as we get closer to 2050. The past five years are among the warmest ever recorded and the economic impacts from tropical storms, droughts and wildfires are reaching record levels around the world. Despite the need to improve our resilience, investments in

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Climate risk protection gaps need capital market (ILS) solutions

FULL ORIGINAL PUBLICATION HERE The physical climate risk protection gap, so the gulf between climate related losses covered by insurance, reinsurance or risk transfer and those going uncovered, is widening, but instruments such as insurance-linked securities (ILS), catastrophe bonds and other blended financing solutions can help to narrow this gap. In real estate the climate risk protection gap is particularly stark and financing tools are needed urgently to help absorbing some of the climate exposure

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Croatia hit by M6.4 earthquake, strongest recorded to hit the country

FULL ORIGINAL PUBLICATION HERE Yesterday, Croatia was struck by a magnitude 6.4 earthquake that has destroyed many buildings and was the largest quake to strike the country since the introduction of modern seismic instrumentation. The M6.4 earthquake struck central Croatia at 11:19 GMT on Tuesday December 29th at a depth of 10km around 30 miles southeast of the capital city Zagreb. The earthquake was widely felt in the region, with shaking experienced across the Balkans

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City National Rochdale ILW fund lifts assets by 13%

FULL ORIGINAL PUBLICATION HERE City National Rochdale’s largely industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund increased its total net assets under management to $147.8 million by the end of October 2020, an increase of 13% in the quarter. The City National Rochdale Select Strategies (CNRLX) fund is an interval style mutual fund with a focus on investments in industry loss warranty (ILW) reinsurance and retrocession contracts across global peak peril zones,

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How to close Asia’s insurance protection gap

FULL ORIGINAL PUBLICATION HERE Asia will drive the growth of the global insurance market in the years to come. Technological innovation along with solid financing and the right policies will be needed to make sure as many people as possible in the region get the insurance protection they need. The demand for insurance in Asia in the coming decade will be shaped by rising household income levels of a rapidly expanding middle-class, policy measures to

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Brazil formalises ILS and special purpose reinsurance vehicle rules

FULL ORIGINAL PUBLICATION HERE Brazil has now published its awaited rules on insurance-linked securities (ILS) issuance and special purpose reinsurance vehicles, which are due to come into force from January 4th 2021 bringing domestic ILS capabilities to its marketplace. As we’ve documented previously, the insurance and reinsurance market regulator, the Superintendência de Seguros Privados (Susep), had been seeing feedback on a framework for legislation and a regulatory regime to allow for the issuance of insurance-linked securities

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Where the new ILS opportunities lie – and how to access them

ORIGINAL PUBLICATION HERE. INTELLIGENT INSURER WEBSITE PUBLICATION HERE. In a webinar hosted by Intelligent Insurer’s Re/insurance Lounge, AkinovA CEO Henri Winand and Kirill Savrassov of Phoenix CRetro explored the possibilities for ILS to expand into new geographies and lines of business. A significant motive for bringing insurance-linked securities (ILS) to new geographies is diversification of portfolios, according to Henri Winand, founder and chief executive officer of AkinovA. Speaking in an Intelligent Insurer Re/insurance Lounge webinar

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Izmir, Turkey earthquake industry loss estimated at EUR 55m by PERILS

FULL ORIGINAL PUBLICATION HERE The earthquake that struck off the coast of Turkey on October 30th and devastated some areas including the Izmir region is estimated to have only cost the insurance and reinsurance industry EUR 55 million, according to an estimate from PERILS AG. The earthquake cause significant property damage around the Izmir region, downing buildings and damaging hundreds more, while some 114 people have been reported to have died from the quake. Interestingly,

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