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ILS Related

NEWS

Cherry picked selection of news on ILS, DRF, Reinsurance and other matters related to our activities. Updated on a weekly basis.

ESG opportunity can be meaningful for ILS: Nephila’s Schauble, ILS NYC 2021

FULL ORIGINAL PUBLICATION HERE Today, there’s a significant amount of capital looking to be deployed in an environmental, social, and governance (ESG) friendly way, which represents a material opportunity for the insurance-linked securities (ILS) asset class, says Barney Schauble, Head of Labs at Nephila Advisors. Day two of our fifth annual and first virtual ILS NYC conference, started with an exploration of ESG and the impact opportunity in the ILS market. While the concept is nothing

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Positive cat bond market momentum to continue in 2021: Aon Securities

FULL ORIGINAL PUBLICATION HERE The property catastrophe bond market experienced a record year in 2020 with around $11 billion of new issuance and leading broker dealer Aon Securities believes the positive momentum will persist. Aon Securities, the capital markets and insurance-linked securities (ILS) focused unit of the global insurance and reinsurance broker, said in its latest report that 2020 saw property catastrophe bond issuance rise by 104%, compared to the prior year. Given this was

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Jamaica: World Bank cat bond still underway. Gets CCRIF rainfall payout for Zeta & Eta

FULL ORIGINAL PUBLICATION HERE Jamaica continues to work with the World Bank on a first catastrophe bond for the country the Finance Ministry has said and reflecting the importance of disaster risk financing, in recent weeks it has received a roughly $3.5 million payout under its parametric CCRIF insurance coverage. The payout comes after the torrential rainfall from tropical cyclones Zeta and Eta impacted the Caribbean island nation triggered the parametric excess rainfall protection that

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Mexico’s cat bond coverage continues, despite shuttering of FONDEN

FULL ORIGINAL PUBLICATION HERE Mexico’s still in-force $485 million IBRD / FONDEN 2020  catastrophe bond will continue to provide the country with important disaster insurance protection, as the beneficiary of the cover has been shifted away from the shuttered FONDEN disaster fund to the country’s Treasury. We’re told that a notification has been sent to investors in and holders of the World Bank issued Mexican catastrophe bond, to explain that the coverage it provides will continue

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ILS fund manager Gildenbrook launched with $850m of capital by Brookman

FULL ORIGINAL PUBLICATION HERE The Gildenbrook Group has been founded by experienced ILS industry executive Daniel Brookman and has today launched Gildenbrook Capital Management Ltd., an independent alternative investment fund manager focused on the insurance-linked securities (ILS) asset class. Brookman most recently led alternative reinsurance and ILS activities at re/insurer AXA XL, before which he worked at reinsurance firm Montpelier Re leading capital market initiatives, and before that at investment bank Barclays again with a

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World Bank supports Central Asia Multi-Peril Risk Assessment

FULL ORIGINAL PUBLICATION HERE Central Asian countries will benefit from a better understanding of their natural disaster risks, which in time could lead to greater use of risk transfer, insurance and reinsurance capacity in the region, as the World Bank supports a multi-peril risk assessment project for the region. One of the first steps in moving towards sovereign disaster risk transfer, such as use of insurance, reinsurance or catastrophe bond type arrangements, tends to be

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Catastrophe protection gap hit 64% in 2020, $171bn goes uninsured: Aon

FULL ORIGINAL PUBLICATION HERE. AON’S FULL CATASTROPHE REPORT HERE. The global catastrophe protection gap reached 64% in 2020 as roughly $171 billion of natural catastrophe and severe weather losses were not covered by insurance and reinsurance, one of the largest brokers Aon has said. Aon’s latest annual catastrophe report highlights climate influences on a significant number of impactful events in 2020 and the brokers’ CEO Greg Case calls for organisations to ensure they are protected

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Indonesia cat bond possible, as World Bank lends for disaster insurance

FULL ORIGINAL PUBLICATION HERE The World Bank has approved $500 million of funding for Indonesia to help the country enhance its financial response to natural disasters, climate risks, and health-related shocks, with the use of risk pooling, and insurance or reinsurance instruments at the heart of the plan. Between 2014 and 2018, the central government of Indonesia has spent between US$90 million and US$500 million annually on disaster response and recovery, the World Bank explained,

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