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Meteo Protect, a parametric and weather index insurance specialist, has launched a new product offering parametric flood coverage for river cruise operators and riverside businesses.

Meteo Protect underwrites a broad range of parametric insurance products linked to weather conditions, backed by reinsurance capital and also works as a Coverholder for the Lloyd’s of London insurance and reinsurance marketplace.

Having recognised the impact of recent years flooding events in France, including many rivers and most famously the Seine in Paris this year, Meteo Protect has launched this product to provide responsive coverage to businesses that are dependent on river conditions.

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ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ

Власти определились с проектом страхования недвижимости граждан

Минфин согласовал с ведомствами поправки о страховании жилья граждан от чрезвычайных ситуаций (ЧС). Как следует из последней версии проекта, в минимальной конфигурации страховаться будет только полная утрата жилья, но регионы смогут расширять защиту. Помощь государства в виде предоставления жилого помещения не станет основанием для отказа в страховой выплате, само возмещение можно будет получить как деньгами, так и жильем. 95% рисков по страхованию жилья будет передано национальному перестраховщику, созданному ЦБ. На страховом рынке уверяют, что в такой конструкции проект в проблемных регионах работать не будет.

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Alternative risk premia focused mutual fund manager Stone Ridge Asset Management has expanded its investment in a Lloyd’s corporate vehicle in recent months, reflecting an increasing ambition from the manager to access reinsurance linked returns through the key specialty re/insurance hub in London.

Stone Ridge Asset Management continues to display a strong desire to grow its mutual ILS funds, with its ILS and reinsurance linked assets under management rising to a new high of $6.72 billion at the end of January.

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Some reinsurance firms that entered the year with lower overall levels of capital, following the impacts of the major hurricanes and other losses last year, have become ” increasingly dependent on retrocession and alternative capital to maintain gross capacity,” according to rating agency Moody’s.

This is another sign that the capital markets are becoming an integral piece of the average reinsurers capital stack, as companies have gone from purely using alternative capital for retrocession, to managing third-party capital in order to earn fees, to recognising the efficiency it can add, to now using it in order to maintain their own capitalisation, aware of the benefits its lower cost-of-capital has.

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Insurance-linked securities (ILS) and reinsurance linked investment fund strategies have received a very high level of interest from potential investors and investment consultants during the first-quarter of 2018, with some ILS funds coming out among the most searched for each month.

According to data from hedge fund and alternative investments database provider eVestment, ILS funds from Leadenhall Capital Partners and Nephila Capital both featured among the most searched for at times during the first-quarter.

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A report to the United Kingdom government from the Green Finance Taskforce urges it to consider placing catastrophe bonds, insurance-linked securities (ILS) and other instruments such as resilience bonds under a green finance focus, as it looks to unlock private capital for managing climate risks.

The report suggests numerous ways to expand the green finance market with the help of private capital and the ILS and catastrophe bond market is seen as a key component of this, which tied to the recently enacted UK ILS tax and regulatory framework is seen as an opportunity for the UK to further green finance development.

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SCOR Investment Partners, the asset management division of the global reinsurance company, raised around €1 billion of assets from third-party institutional investors during 2017, some of which flowed into the insurance and reinsurance linked strategies (ILS) operated by the firm.

Overall, SCOR Investment Partners lifted its assets under management to €14 billion by the end of 2017 (across multiple asset classes including ILS), with €4.9 billion of this in fund strategies specifically marketed to institutional investors.

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The CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is ten years old this year and is it looks to the future the parametric insurance facility wants to better serve its members by scaling up the protection it offers, adding new products, and ultimately expanding the CCRIF risk pool.

CCRIF provides Caribbean and Central American nations with parametric disaster insurance protection, against perils including hurricanes, earthquakes and extreme rainfall.

The risks are structured and underwritten using parametric triggers and the diversified risk pool that is created is then backed by reinsurance from the traditional and sometimes alternative market.

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The Asian Development Bank (ADB), a financial institution that supports economic growth and cooperation in the Asia-Pacific region, has hired Thomas Kessler, a long-time Swiss Re executive, into a newly created role focused on disaster risk insurance and financing.

Thomas Kessler has been hired by the Asian Development Bank (ADB) to the role of Principal Disaster Risk Insurance & Finance Specialist.

Kessler originally joined global reinsurance firm Swiss Re in 1994 and worked across a number of regions, including Japan, New York and Zurich. Then between 2012 and 2015 Kessler was seconded to become the Deputy CEO of Vietnam National Reinsurance Corporation, before then returning to Swiss Re and taking a Head of South East & East Asia Global Partnerships role at the firm.

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According to a report, the Abu Dhabi Investment Authority (ADIA), a sovereign wealth investment fund owned by the Emirate of Abu Dhabi and tasked with investing funds on behalf of the Government of the Emirate, is looking to buy a significant stake in pension risk transfer specialists Pension Insurance Corporation (PIC).

The Emirate of Abu Dhabi is well-known for its investments into insurance, reinsurance and ILS asset classes, having previously taken a stake in reinsurance firm Ariel Re and backed the Credit Suisse ILS team linked reinsurer Kelvin Re, through its sovereign wealth investment funds.

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