ORIGINAL PUBLICATION HERE Despite experiencing a significant accumulation of losses over the past 18 months the third-party capital segment nonetheless remains influential in the reinsurance segment and, in particular, the property-cat space, according to A.M. Best. A.M. Best says third-party investors seem to have become increasingly sceptical following the 2018 cat season, as they have […]

ORIGINAL PUBLICATION HERE The Jamaican government continues to discuss disaster risk financing instruments including catastrophe bonds with bilateral and multi-lateral partners and is developing a Public Financial Management Policy for Natural Disaster Risk. Jamaica has benefitted from a borrowing agreement with the IMF, but that expires later this year leaving a gap in the financial […]

ORIGINAL PUBLICATION HERE The London Stock Exchange is now ready to list insurance-linked securities (ILS) on its International Securities Market after putting in place the rules necessary to allow for listing of catastrophe bonds and other ILS securities. With the UK now having its ILS regulatory framework in place and a number of transactions now […]

ORIGINAL PUBLICATION HERE Privately placed catastrophe bond transactions, also known as cat bond lites, have grown both in terms of size and utilisation since their introduction to the market back in 2011, with almost $2 billion of new risk capital issued over the last two years being privately placed. This is according to data from […]

ORIGINAL PUBLICATION HERE The government of Hong Kong included insurance-linked securities (ILS) in its budget this week, demonstrating the level of importance being placed on developing appropriate legislation in the Special Administrative Region of China. Hong Kong began planning for the development of legislation to allow for the establishment of reinsurance related special purpose vehicles for […]

ORIGINAL PUBLICATION HERE Singapore’s first insurance-linked securities transaction (ILS) has been finalised, according to law firm Rajah & Tann Singapore which acted as Singapore counsel to the transaction. The ILS comprises a catastrophe bond sponsored by Insurance Australia Group. The bond is the first Australian dollar-denominated catastrophe bond in the global market and a A$75m […]

ORIGINAL PUBLICATION HERE Insurance Australia Group (IAG) has sponsored its first catastrophe bond and the transaction is also the first cat bond to be issued in Singapore, using the countries’ Special Purpose Reinsurance Vehicle (SPRV) regulations. The AUD $75 million Orchard ILS Pte Ltd transaction has broken new ground by becoming the first cat bond to […]

ORIGINAL PUBLICATION HERE The successful issuance of the AUD $75 million Orchard ILS Pte Ltd catastrophe bond, the first for sponsoring insurer Insurance Australia Group (IAG) and the first cat bond to be issued in Singapore, took only a few weeks, according to a lawyer who worked on the transaction. The issuance of the Orchard ILS Pte […]

ORIGINAL PUBLICATION HERE Pool Re, the UK government-backed mutual terrorism reinsurance facility, has now successfully completed the issuance of its first terrorism risk catastrophe bond, the £75 million ($97m) Baltic PCC Limited (Series 2019) with the placement said to have been oversubscribed thanks to ILS investor support. The insurance-linked securities (ILS) market has seen terrorism risk before, […]

ORIGINAL PUBLICATION HERE The Bermuda Stock Exchange (BSX) has become the listing home for notes issued under a UK domiciled catastrophe bond structure for the first time, as the £75 million of notes issued for Pool Re’s first terrorism cat bond find a home there. The £75 million Baltic PCC Limited (Series 2019)terrorism catastrophe bond transaction […]