Перевод оригинальной статьи (in English) для 16-го конгресса SIRC. PDF версия здесь. 中文

По словам руководителя компании Phoenix CRetro Кирилла Саврасова, внедрение катастрофических облигаций на фоне инвестиций в проекты инициативы «Один пояс, Один путь» сможет нивелировать риск крупных бюджетных потерь и укрепить макроэкономическую стабильность региона стран бывшего СССР и западных Балкан путем организации инструментов быстрого доступа к финансовым ресурсам, необходимым для восстановления экономики пострадавших стран при наступлении значительных природных катастроф. 

Так совпало, что в день написания этой статьи, в Стамбуле произошло землетрясение магнитудой в 5.8 баллов, которое вызвало панику среди населения и повлекло за собой эвакуацию школ и государственных учреждений. Также в этом густонаселенном городе с количеством жителей более 15 млн. в одной из мечетей обрушился минарет.

На той же неделе, похожее событие в северо-восточном Пакистане стало причиной гибели 38 и ранения более чем 700 человек и серьезного ущерба критической инфраструктуре – дорогам и мостам.

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Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area.

Public authorities are showing renewed and increasing interest in climate adaptation, while they are also more aware than ever of the need for investment to support the ultimate goal of a more resilient society.

However, while investments into climate change adaptation projects are flowing, they aren’t anywhere near sufficient to deliver the significant progress required to actually increase the resilience of the regions of the world facing the highest climate related risks.

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Over 800 million people live within 100km of an active volcano around the world. To prepare for a potential eruption, the Danish Red Cross and International Federation of Red Cross and Crescent Societies, alongside industry partners, are planning a catastrophe bond to cover risks associated with 10 volcanoes in 4 regions. This will likely be one of the most globally focused cat bonds to ever hit the market.

The Red Cross’ volcano cat bond will target covering the risks associated with ten volcanoes from across South, Central and North America, as well as Asian & African countries.

Never before has a catastrophe bond included such a broad spread of exposures, but given the focus of each exposure is a single volcano and the risk of it erupting at a certain level of severity, it makes the modelling possible for a transaction covering risks across a wide-spread of the globe.

ORIGINAL ARTICLE BY Matthew Blackett & Coventry University HERE

Europe isn’t a region well known for intense seismic activity, but large earthquakes do happen. In 1953, a devastating 6.8 magnitude quake struck the Greek Ionian Islands. Though these large events tend to be the exception rather than the rule, a flurry of significant earthquakes struck the Balkans on November 27 2019, with epicentres in Bosnia, Albania and Crete. Geologists are worried that these events might gain momentum, with larger and more destructive events imminent.

Should residents be worried? The Balkans – a region stretching from Croatia to mainland Greece, and the Greek islands to the south – has a very complex geology. The whole region is tectonically active due to compression of the Earth’s crust further north and subduction – when one tectonic plate moves under another – to the south. Each process plagues this part of the world with frequent, though usually small, tremors.

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A recent survey of 200 Chief Investment Officers (CIO’s) and investment team members from the life, property and casualty, insurance and reinsurance sector found that 18% of respondents are already holding some insurance-linked securities (ILS) within their investment portfolios.

The survey undertaken by Natixis looked at what is driving insurance and reinsurance investment teams strategies and the challenges they are currently facing in the macro investment environment.

Yield is clearly a challenge right now and continues to be, with no sign of a turnaround and re/insurer investment teams constantly battling to make up ground in this low yield environment.

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Singapore and the World Bank aligned their missions to collaborate on the recent landmark first catastrophe bond issuance for the Philippines, as the pair look to stimulate insurance-linked securities (ILS) issuance in Asia as a financial solution for climate resilience.

The Philippines catastrophe bond, IBRD CAR 123-124 which completed last week to provide the country $225 million of disaster insurance capacity covering certain earthquake and cyclone losses, is the first from an Asian sovereign sponsor, the first to be listed in Asia and the first cat bond notes listed on the Singapore Exchange (SGX).

Asia and its people suffer around one-third of the world’s natural catastrophes each year, with significant impacts to the economy, as well as lives and livelihoods.