ORIGINAL PUBLICATION HERE In 2018 when global investors suffered as markets fell and equities in many cases failed to perform, investments in some asset classes that had been promoted as diversifying failed to deliver on their promise, Natixis Investment Managers said. The decline in global equity markets contributed roughly two-thirds of the losses investors saw […]

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 Rising geopolitical tensions and protectionist sentiments, in combination with ongoing trade disputes, and resulting in increased uncertainty and risk for multinationals such as re/insurers, according to Marsh, particularly for those with direct foreign investments. Marsh’s Political Risk Map 2019 rated more than 200 countries and territories on the basis of short and […]

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 Insurers and reinsurers in the Commonwealth of Independent States (CIS) are struggling to remain profitable in the face of significant geopolitical instability and regulatory changes, according to a report by A.M. Best. The rating agency noted that, whilst the overall economy for the CIS improved in 2018 compared to prior years, challenges […]

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, […]