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

Tre Hapa për të Ndihmuar Shqipërinë për të Përballuar Ndikimet Financiare të Shkaktuara nga Fatkeqësitë dhe Krizat

PUBLIKIMI I PLOT ORIGJINAL KTU Në vitin 2019, Shqipëria u përball me një seri tërmetesh, ndër të cilët edhe një me magnitudë të lartë; më pas, mes përpjekjeve për rindërtim në vitin 2020, u godit edhe nga pandemia COVID-19. E përballur me nevojat e shumta në rritje, mbështetja e qeverisë shqiptare shkoi për të varfërit dhe personat e prekur nga fatkeqësitë dhe krizat, përfshirë këtu edhe bizneset. Për ta realizuar këtë, ajo shfrytëzoi rezervat fiskale,

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Three Steps to Help Albania Withstand the Financial Impacts of Disasters and Crises

FULL ORIGINAL PUBLICATION HERE In 2019, Albania experienced a series of earthquakes, including a major one; then, amid reconstruction efforts in 2020, it was hit by the COVID-19 pandemic. Confronting multiple increasing needs, the government of Albania supported the poor and those affected by disasters and crises, including businesses. To do so, it tapped into its fiscal reserves, reallocated budgets toward urgent priorities, and relied on external assistance. Many of these measures were ad hoc.

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Brazil’s regulator targeting ILS for the right (domestic) reasons

FULL ORIGINAL PUBLICATION HERE With Brazil’s government having recently formalised and published legislation related to special purpose reinsurance transformer vehicles and insurance-linked securities (ILS) issuance, the country’s insurance regulator Susep has said it hopes the regime will reduce reinsurance costs for carriers. As a result of which, Brazil’s regulator the Superintendência de Seguros Privados (Susep) hopes that introducing direct capital market’s sources of third-party reinsurance and retrocession capital can ultimately help to lower insurance costs for

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Catastrophe bonds “gained in importance” in 2020, says Fitch

FULL ORIGINAL PUBLICATION HERE Catastrophe bonds became more important for the reinsurance market in 2020, as the record year of issuance saw use of the cat bond as a reinsurance or retrocession risk transfer tool increase, Fitch Ratings has said. While alternative capital levels remained relatively flat overall through 2020 it seems, the catastrophe bond market was one area that gained during the year. Catastrophe bonds gained in importance at the expense of collateralised reinsurance programmes, Fitch

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Croatian earthquakes caused losses also in the neighboring countries

ORIGINAL PUBLICATION HERE The 6.4-magnitude earthquake has hit Croatia in 29 December, killing at least seven people and causing severe damage to the town of Petrinja south-east of the capital Zagreb, has also affected the neighboring Bosnia and Serbia, and was felt also in the southern Austria and Hungary. According prefect Ivo Zinic’s statement one week in the new year, more than 22,000 buildings in Sisak-Moslavina County were damaged, while 20% of the 8,743 buildings

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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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