FULL ORIGINAL PUBLICATION HERE Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area. Public authorities are showing renewed and increasing interest in climate adaptation, while […]

FULL ORIGINAL PUBLICATION HERE Singapore and the World Bank aligned their missions to collaborate on the recent landmark first catastrophe bond issuance for the Philippines, as the pair look to stimulate insurance-linked securities (ILS) issuance in Asia as a financial solution for climate resilience. The Philippines catastrophe bond, IBRD CAR 123-124 which completed last week to provide […]

FULL ORIGINAL PUBLICATION HERE The inaugural catastrophe bond to benefit the Philippines will also set another ILS market first, as the $225 million of notes issued through the World Bank’s IBRD CAR 123-124 cat bond transaction will be listed on the Singapore Stock Exchange (SGX). We understand that this will be the first listing of catastrophe bond […]

FULL ORIGINAL PUBLICATION HERE At a recent meeting of the Asia-Pacific Economic Cooperation (APEC) finance ministers the group reaffirmed their commitment to exploring capital market backed disaster risk transfer tools, as well as other forms of insurance or reinsurance. Representatives from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) meet regularly to discuss […]

Public sector demand, ESG qualities support ILS growth: HSBC’s Hoekema, Goonewardene

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FULL ORIGINAL PUBLICATION HERE The ongoing expansion of the insurance-linked securities (ILS) asset class is increasingly supported by government and NGO activity, while investors take advantage of a compelling ESG proposition, according to Andries Hoekema, HSBC Global Asset Management and Helen Goonewardene, HSBC Issuer Services. Surpassing $90 billion in 2018, the ILS market has continued, […]

ORIGINAL PUBLICATION HERE Phoenix CRetro Reinsurance Company chief executive Kirill K Savrassov says as huge investments are being poured into the Belt and Road Initiative (BRI) across Asia and Europe, introduction of catastrophe bonds can take the risk off the government balance sheets and reinforce macro-economic stability while providing access to rapid recovery funding. The […]

ORIGINAL PUBLICATION HERE As investments into China’s Belt and Road Initiative (BRI) increase, Kirill Savrassov, CEO of Phoenix CRetro Reinsurance Company, told Baden-Baden Today that it represents big opportunities and challenges for the reinsurance industry, especially from a cat perspective. He said the project, led by China and sometimes described as a multibillion dollar rebirth […]

ORIGINAL PUBLICATION HERE. PDF VERSION HERE China’s Belt and Road Initiative, the economic project which aims to recreate the ancient Silk Road that linked Europe to Asia, needs protecting. ILS could provide the perfect solution, as Kirill K. Savrassov, chief executive of Phoenix CRetro Reinsurance Company, tells Bermuda:Re+ILS. In September a 5.8 magnitude earthquake shook Istanbul, triggering the evacuation of schools […]

FULL ORIGINAL PUBLICATION HERE Parametric triggers, coupled with increasingly granular data and technology, can “expand the limits of insurability” according to Swiss Re, especially when it comes to non-physical damage business interruption (NDBI). Innovation continues to deliver on new ways to mitigate risks, Swiss Re said in a recent report. These innovations are enabling better […]