ORIGINAL PUBLICATION HERE Phoenix CRetro Reinsurance Company chief executive Kirill K Savrassov says as huge investments are being poured into the Belt and Road Initiative (BRI) across Asia and Europe, introduction of catastrophe bonds can take the risk off the government balance sheets and reinforce macro-economic stability while providing access to rapid recovery funding. The […]

ORIGINAL PUBLICATION HERE As investments into China’s Belt and Road Initiative (BRI) increase, Kirill Savrassov, CEO of Phoenix CRetro Reinsurance Company, told Baden-Baden Today that it represents big opportunities and challenges for the reinsurance industry, especially from a cat perspective. He said the project, led by China and sometimes described as a multibillion dollar rebirth […]

ORIGINAL PUBLICATION HERE. PDF VERSION HERE China’s Belt and Road Initiative, the economic project which aims to recreate the ancient Silk Road that linked Europe to Asia, needs protecting. ILS could provide the perfect solution, as Kirill K. Savrassov, chief executive of Phoenix CRetro Reinsurance Company, tells Bermuda:Re+ILS. In September a 5.8 magnitude earthquake shook Istanbul, triggering the evacuation of schools […]

FULL ORIGINAL PUBLICATION HERE Bangladesh could benefit from the use of insurance and reinsurance structures including catastrophe bonds as a way to secure much needed capacity enabling it to better respond to natural disasters and climate related risks, according to the International Monetary Fund (IMF). Having completed a new economic assessment of the country, the […]

ORIGINAL ARTICLE IN PDF HERE. MONTE-CARLO TODAY DAY 4 MAGAZINE HERE (EMAG) There is a potentially big opportunity for the insurance-linked securities (ILS) markets to develop parametric cat bonds that could cover some of the growing risks in Eastern Europe and Western areas of Asia, according to Kirill Savrassov, chief executive of PhoenixCRetro. Savrassov told […]

Gradual pick-up of ILS transactions expected in Asia: Fitch

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FULL ORIGINAL PUBLICATION HERE Insurance-linked securities (ILS) and catastrophe bond activity is expected to gradually accelerate in the Asia region, providing investor interest in the ILS asset class remains strong, according to Fitch Ratings. While insurance-linked securities (ILS) and collateralized forms of reinsurance in general are familiar concepts in North America and Europe, there has […]

Regulatory oversight & institutions sustain Bermuda’s ILS role: Estera (Bermuda)

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FULL ORIGINAL PUBLICATION HERE While other jurisdictions are increasingly keen to realise the benefits of facilitating ILS transactions, regulatory oversight and institutions have helped Bermuda maintain its place as the leading domicile for the asset class. This is according to Alison Dyer-Fagundo, Managing Director of Estera (Bermuda) and Sherman Taylor, Associate Director, Estera (Bermuda), who […]

ORIGINAL PUBLICATION HERE NB Reinsurance, a Bermuda-based issuer of ILS, has completed an offering of 19,231 non-voting preferred shares on BSX, effective June 3, 2019. The shares were issued at $1,000.00 per share, to raise $19.2m. Clarien BSX Services acted as listing sponsor, while Conyers Dill & Pearman served as legal advisor. Horseshoe Group acts […]

FULL ORIGINAL PUBLICATION HERE Global reinsurance firm Swiss Re said today that it is “excited” to promote the development of an insurance-linked securities (ILS) and catastrophe bond market in Asia, with the completion of the first cat bond it has facilitated in Singapore, the $100 million First Coast Re II Pte. Ltd. (Series 2019-1). As we […]

ORIGINAL PUBLICATION HERE Florida based primary insurer Security First Insurance Company is set to be the beneficiary of the first full 144A catastrophe bond to be issued in Singapore, as a $100 million First Coast Re II Pte. Ltd. (Series 2019-1) transaction has now been priced and is set for completion. This will officially be the first […]