ORIGINAL PUBLICATION HERE The Philippines, the Asian Development Bank and private market entities are working to develop a parametric disaster insurance pooling facility for Philippine cities to buy protection from, backed by reinsurance and capital markets funding. The Philippine City Disaster Insurance Pool (PCDIP) is being designed by a collaboration between the Philippine Department of […]

ORIGINAL PUBLICATION HERE The alternative reinsurance capital market showed evidence of increasing rationality at the key January 1st 2019 renewals, according to analysts at Peel Hunt, with a “flight to quality” also noted as being underway in some corners of the ILS fund market. The analysts met with underwriters in London and at Lloyd’s recently […]

ORIGINAL PUBLICATION HERE The recently renewed Philippines parametric natural disaster insurance cover was completed at $390 million in size, around double the prior year, and the World Bank has confirmed that work is underway to issue a catastrophe bond to extend disaster protection for the country. We covered this renewal back in December, when we […]

ORIGINAL PUBLICATION HERE Insurance-linked securities (ILS) and insurance-linked investments (ILI) in general have been identified as an example of a Sustainable Development Investment, according to experienced ILS investors Dutch pension fund manager PGGM and pension PFZW. As insurance-linked securities (ILS) and instruments such as catastrophe bonds provide risk capital that responds to the occurrence of […]

ORIGINAL PUBLICATION HERE Yet another private catastrophe bond, or cat bond lite, has been issued through the Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle of German reinsurance firm Hannover Re, a $25 million Seaside Re (Series 2019-42)transaction. The transaction which was listed on the Bermuda Stock Exchange (BSX) yesterday follows $87 million of Seaside Re […]

ORIGINAL PUBLICATION HERE The total number of catastrophe bonds and insurance-linked securities (ILS) listed on the Bermuda Stock Exchange (BSX) hit 302 at the end of 2018, representing a combined value of $30.92 billion, a new high for the Exchange. Artemis discussed previously that the BSX had continued to grow its amount of cat bond and […]

ORIGINAL PUBLICATION HERE One of the dynamics that has played out at this January reinsurance renewals is a shift by some of the leading ILS funds to place an increasing emphasis on their preferred or best performing cedants. After the significant losses of the last two years there is increasingly an awareness that just backing […]

ORIGINAL PUBLICATION HERE According to alternative risk premia focused mutual fund manager Stone Ridge Asset Management, the returns possible from reinsurance risk premiums still pass its “smell test” as an asset class with long-term value for investors. Stone Ridge looks to provide its investors with access to the returns of businesses (their profits and losses), […]

ORIGINAL PUBLICATION HERE The insurance-linked securities (ILS) market and alternative capital use in reinsurance is dominated by property catastrophe excess-of-loss contracts, a study by the Bermuda Monetary Authority (BMA) found. Around 40% of the Bermuda based ILS market’s aggregate exposure comes from the United States and U.S. cedents led the way with 65% of gross […]

ORIGINAL PUBLICATION HERE A number of countries belonging to the Association of Southeast Asian Nations (ASEAN) have signed a Memorandum of Understanding for the establishment of the region’s first disaster risk financing facility. The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) will initially comprise a trust and an insurance company in Singapore, working in partnership […]