FULL ORIGINAL PUBLICATION HERE Public and private market efforts and collaboration to narrow or even close the insurance protection gap need to be accelerated and uptake of risk transfer needs to be extended, according to Chairman of AXA Denis Duverne. Speaking at an Insurance Development Forum (IDF) day held at the International Insurance Society (IIS) […]

FULL ORIGINAL PUBLICATION HERE Peru’s earthquake catastrophe bond will make a $60 million partial pay out of its principal to the country after its parametric triggering was confirmed in the calculation agent report, it has now been confirmed to us. This $200 million IBRD CAR 120 Peru quake catastrophe bond, part of the World Bank’s giant Pacific Alliance […]

FULL ORIGINAL PUBLICATION HERE CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is seeking a further expansion of its range of parametric insurance products for the region, with utilities such as energy firms and drought coverage both potential avenues it is exploring. Speaking at a conference in the Caribbean last week, CCRIF Chief Executive […]

FULL ORIGINAL PUBLICATION HERE AXA Climate, the parametric specialist risk transfer unit of global insurance and reinsurance company AXA, has launched Hail Protection, which reportedly is the first-ever parametric coverage designed to help businesses recover after hail storms. AXA Climate, which was formerly called AXA Global Parametrics until a recent rebranding of the unit, developed the […]

ORIGINAL PUBLICATION HERE. PDF VERSION HERE Excellent management of cyclone Fani by the eastern Indian state of Odisha has become a text book example of how to manage natural catastrophes although the government is now faced with the task of post-disaster reconstruction. With low insurance penetration, the question of using capital markets as a means […]

FULL ORIGINAL PUBLICATION HERE Climate change is a factor in the intensity of hurricanes that threaten to strike the east coast of the United States, according to researchers who say that CO2 and greenhouse gases are helping to diminish the wind shear that can act as a barrier to storms. Wind shear along the U.S. […]

FULL ORIGINAL PUBLICATION HERE The decision as to whether Peru’s earthquake exposed IBRD CAR 120 catastrophe bond will payout a portion of the investor principal is expected within 20 days of the magnitude 8.0 earthquake that struck Peru on Sunday 26th May, according to the country’s Finance Minister. Carlos Oliva, the Minister for Finance and the Economy […]

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 […]

FULL ORIGINAL PUBLICATION HERE A magnitude 8.0 earthquake that struck Peru yesterday, Sunday 26th May, could trigger the IBRD CAR 120 catastrophe bond, which was part of the Pacific Alliance issuance, with the available data suggesting that a 30% loss of principal should be expected by investors in the cat bond. The magnitude 8.0 earthquake struck Peru […]

ORIGINAL PUBLICATION HERE Mitsui Sumitomo Insurance has raised its estimate of losses from Japanese typhoons that struck in 2018, which has driven the qualifying aggregate loss amount under the terms of its $200 million catastrophe bond Akibare Re Ltd. (Series 2016-1) over the exhaustion point. As a result, it’s now expected that the $200 million of Akibare […]