FULL ORIGINAL PUBLICATION HERE The California Earthquake Authority (CEA) is back once again in the catastrophe bond market with the second issuance it has sponsored so far this year, seeking a $250 million or larger source of collateralised earthquake reinsurance from this Ursa Re II Ltd. (Series 2020-1) deal. Earlier this year, the CEA, which is a […]

FULL ORIGINAL PUBLICATION HERE The Asia-Pacific Economic Cooperation (APEC) continues to see the development of a regional catastrophe bond market as positive, highlighting at a recent workshop that cat bonds are a win-win relationship for governments and investors. The workshop last week was convened by The World Bank Treasury alongside the APEC Business Advisory Council […]

ORIGINAL PUBLICATION HERE. ALSO REPUBLISHED BY INTELLIGENT INSURER ITSELF, UNDRR’S PREVENTION WEB NET, SEEKING ALPHA AND BELT & ROAD NEWS. Countries in Central Asia and Eastern Europe that have been recipients of Chinese investment via projects associated with its Belt and Road Initiative (BRI) should use parametric sovereign cat bonds to insure themselves against the risk […]

FULL ORIGINAL PUBLICATION HERE The Monetary Authority of Singapore (MAS) has extended its insurance-linked securities (ILS) grant scheme to the end of 2022, as Singapore looks to build on recent positive momentum and attract more catastrophe bond issuers to its shores. Speaking today at our Artemis ILS Asia virtual conference, Mr. Benny Chey, Assistant Manager […]

As mentioned by AON in their Weather, Climate & Catastrophe Insight: 2019  Annual Report, last year brought $232 billion of economic losses from natural disasters whereby only $71 billion was actually insured. It outlined that the world continue to face a fundamental issue of insurance gap, especially in emerging and developing countries, where losses for businesses and governments are only increasing following […]

ORIGINAL PUBLICATION HERE The international community has pledged $1.25 billion to help Albania recover from a devastating earthquake during a European Union-led donors’ conference in Brussels.  “UN agencies have joined forces in developing and implementing the recovery measures based on the sectoral needs as identified by the Government,” said Mirjana Spoljaric Egger, Director of the […]

FULL ORIGINAL PUBLICATION HERE Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal. Jamaica’s government has been working towards sponsoring its first catastrophe bond for at least […]

FULL ORIGINAL PUBLICATION HERE The World Bank has helped two more countries join those benefiting from a source of catastrophe contingent disaster risk financing, as both Vanuatu and Grenada become the latest to receive a Catastrophe Deferred Drawdown Option (Cat DDO) arrangement. The World Bank continues to deliver these catastrophe contingent risk financing solutions to […]

FULL ORIGINAL PUBLICATION HERE Innovative insurance and reinsurance mechanisms such as catastrophe bonds, risk pooling facilities and parametric triggers are all key ways that risk mitigation can be improved in the world’s most vulnerable areas, Aon said today. The insurance and reinsurance broker highlighted the continuing issue of the protection gap and the need for […]

FULL ORIGINAL PUBLICATION HERE  City of 15 million is on a fault line rocked by a series of temblors Istanbul, Turkey’s biggest city with 15 million people, should prepare for an earthquake of magnitude 7.5. That was the chilling prediction of Interior Minister Suleyman Soylu after the temblor measuring 6.7 that killed dozens of people Jan. 24 in Elazig […]