ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ

Кабмин утвердил стратегию по снижению риска бедствий в Узбекистане, главная цель которой — защита населения и территорий от чрезвычайных ситуаций.

Кабинет Министров 12 апреля утвердил стратегию достижения целей «Сендайской рамочной программы по снижению риска бедствий на 2015−2030 годы» и национальный план по ее реализации, сообщила Norma.uz.

Цель стратегии — повышение эффективности реформ в сфере комплексной защиты населения и территорий от бедствий и существенное сокращение к 2030 году числа погибших и пострадавших, а также прямого экономического ущерба в результате бедствий.

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Alternative sources of reinsurance capital, deployed into catastrophe bonds as well as through ILS funds and other collateralized vehicles, grew by a slower 9% to $97 billion in 2018, but is expected to “regain momentum” in the coming months, according to Aon.

Alternative reinsurance capital had been rising by more than 10% every year since 2008, but in 2018 this slowed down to 9%, as alternative capital reached $97 billion at the end of the year, up from $89 billion at the end of 2017.

The impact of major catastrophe losses was beginning to bite and slowed the raising of alternative and ILS capital, but this also hit traditional reinsurers, according to broker Aon, as the broker reports that traditional reinsurance capital shrank by more than 5% during 2018, falling from $516 billion to $488 billion.

Global reinsurance capital 2018

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Disaster risks and costs are on the rise in Asia, a region where under-insurance is still the norm and spending by government’s on contingent sources of disaster risk financing relatively scarce, leading the Asian Development Bank (ADB) to call for more to be done.

Among the issues cited as requiring more focus, the use of insurance, reinsurance and alternative forms of risk transfer, in terms of protection directly for the people threatened by disasters as well as for governments and corporations, is seen as key to the ability of the Asia region to increase its resilience to natural catastrophes, severe weather and climate related risks.

“Four out of every five people affected by natural hazards live in Asia,” explained ADB Chief Economist Yasuyuki Sawada. “Asia has led the way on disaster risk reduction efforts in recent years, but more action is needed to tackle both vulnerability and responses at the national and the community level.”

Asia faces an environment where climate change, rapid urbanisation and rising values-at-risk are resulting in increasing exposure levels.

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Disaster risks and costs are on the rise in Asia, a region where under-insurance is still the norm and spending by government’s on contingent sources of disaster risk financing relatively scarce, leading the Asian Development Bank (ADB) to call for more to be done.

Among the issues cited as requiring more focus, the use of insurance, reinsurance and alternative forms of risk transfer, in terms of protection directly for the people threatened by disasters as well as for governments and corporations, is seen as key to the ability of the Asia region to increase its resilience to natural catastrophes, severe weather and climate related risks.

“Four out of every five people affected by natural hazards live in Asia,” explained ADB Chief Economist Yasuyuki Sawada. “Asia has led the way on disaster risk reduction efforts in recent years, but more action is needed to tackle both vulnerability and responses at the national and the community level.”

Asia faces an environment where climate change, rapid urbanisation and rising values-at-risk are resulting in increasing exposure levels.

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ORIGINAL PUBLICATION HERE

Radian Guaranty has now completed its second issuance of mortgage insurance-linked securities (ILS), citing a pleasing response from investors to its $562 million Eagle Re 2019-1 Ltd. that secures it additional reinsurance capacity from the capital markets.

The transaction has been in the market for some weeks now and saw Radian Guaranty looking to increase the participation of capital market investors within its excess-of-loss mortgage reinsurance program.

This second mortgage ILS follows Radian Guaranty’s first sponsorship of a  mortgage insurance-linked notes (ILN) transaction in the fourth-quarter of 2018, the $434 million from the Eagle Re 2018-1 Ltd.

Now, with the successful completion of its second Eagle Re mortgage ILS transaction, Radian Guaranty now benefits from almost $1 billion of fully collateralized mortgage reinsurance protection.

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The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund, managed a 6.6% annual return in the year to Jan 31st 2019, while its assets under management increased in the last quarter as well.

Given the focus of the City National Rochdale Select Strategies Fund ($CNRLX) ILW focused reinsurance and retrocession investment strategy on peak peril and regional U.S. ILW contract investments, facilitated by accessing the risk through the portfolio of the Neuberger Berman ILS management team’s NB Re Ltd. vehicle (the renamed Iris Re), this fund managed to avoid much impact from the 2018 catastrophe events.

When we last reported on the City National Rochdale mutual ILS fund it had reported net assets valued at $47.4 million as of October 31st 2018.

The fund grew around the January reinsurance renewals, when fresh capital will have been deployed into new ILW contract investments.

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Alternative risk transfer and ILS mechanisms in the global property and casualty (P&C) market are expected to become more commonplace in the months and year ahead, according to law firm Sidley Austin’s Global Insurance Review.

In addition the law firm believes that we haven’t seen the end of M&A activity in the ILS space, suggesting there could be more forays to acquire ILS fund managers in the coming year or more.

The firm’s recent publication explores the global insurance and reinsurance industry in 2018, including the ever-expanding alternative risk transfer space.

Sidley Austin notes continued growth of the insurance-linked securities (ILS) market in spite of two consecutive years of heavy catastrophe losses, explaining that it expects market growth to persist in 2019.

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WASHINGTON, DC, UNITED STATES (12 April 2019) — The Asian Development Bank (ADB) and United Nations Development Programme (UNDP) signed a 5-year memorandum of understanding (MOU) today to accelerate progress towards sustainable development in Asia and the Pacific

The MOU was signed by ADB President Mr. Takehiko Nakao and UNDP Administrator Mr. Achim Steiner in Washington, DC. The agreement builds on an ongoing partnership between ADB and UNDP and sets the stage for greater collaboration at the country and regional levels, and stronger cooperation in accelerating progress towards the Sustainable Development Goals (SDGs) in Asia and the Pacific.“ADB and UNDP have had a long-standing and productive partnership to support development progress in Asia and the Pacific,” said Mr. Nakao. “UNDP’s support to countries on policy dialogue and technical capacity building can complement ADB’s project implementation. Through the MOU, we will work together to realize a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.”

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WASHINGTON, DC — The Asian Development Bank (ADB) and United Nations Development Programme (UNDP) signed a five-year memorandum of understanding (MOU) today to accelerate progress towards sustainable development in Asia and the Pacific.

The MOU was signed by ADB President Mr. Takehiko Nakao and UNDP Administrator Mr. Achim Steiner in Washington, DC. The agreement builds on an ongoing partnership between ADB and UNDP and sets the stage for greater collaboration at the country and regional levels, and stronger cooperation in accelerating progress towards the Sustainable Development Goals (SDGs) in Asia and the Pacific.

“ADB and UNDP have had a long-standing and productive partnership to support development progress in Asia and the Pacific,” said Mr. Nakao. “UNDP’s support to countries on policy dialogue and technical capacity building can complement ADB’s project implementation. Through the MOU, we will work together to realize a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.”

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