Pacific Alliance hopes to expand cat bond to cover cyclones, floods, droughts

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FULL ORIGINAL PUBLICATION HERE The Pacific Alliance, a Latin American trade bloc made up of Chile, Colombia, Mexico and Peru, would like to expand on the coverage provided by their catastrophe bonds, with hydro-meteorological risks including tropical cyclones, drought, floods and even cold weather all mooted as potential perils to include. The Ministries of Finance […]

FULL ORIGINAL PUBLICATION HERE The World Bank has “only scratched the surface” on what it can do with member governments that are looking to transfer some of their disaster risk to the reinsurance sector and the capital markets, according to Michael Bennett, Head of Derivatives & Structured Finance, World Bank Treasury. The World Bank is […]

Catastrophe protection gap needs capital market support: Bernardino, EIOPA

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FULL ORIGINAL PUBLICATION HERE Gabriel Bernardino, the soon to retire Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), has highlighted the capital markets role in delivering catastrophe insurance that has fewer protection gaps. In an interview with Brink News, Bernardino explained the need for multi-peril catastrophe insurance and reinsurance coverage that protects against […]

Catastrophe protection gap hit 64% in 2020, $171bn goes uninsured: Aon

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FULL ORIGINAL PUBLICATION HERE. AON’S FULL CATASTROPHE REPORT HERE. The global catastrophe protection gap reached 64% in 2020 as roughly $171 billion of natural catastrophe and severe weather losses were not covered by insurance and reinsurance, one of the largest brokers Aon has said. Aon’s latest annual catastrophe report highlights climate influences on a significant […]

PUBLIKIMI I PLOT ORIGJINAL KTU Në vitin 2019, Shqipëria u përball me një seri tërmetesh, ndër të cilët edhe një me magnitudë të lartë; më pas, mes përpjekjeve për rindërtim në vitin 2020, u godit edhe nga pandemia COVID-19. E përballur me nevojat e shumta në rritje, mbështetja e qeverisë shqiptare shkoi për të varfërit […]

FULL ORIGINAL PUBLICATION HERE In 2019, Albania experienced a series of earthquakes, including a major one; then, amid reconstruction efforts in 2020, it was hit by the COVID-19 pandemic. Confronting multiple increasing needs, the government of Albania supported the poor and those affected by disasters and crises, including businesses. To do so, it tapped into […]

ORIGINAL PUBLICATION HERE The cost of adapting to climate change increases every year. Between now and 2030, adaptation in developing countries is projected to cost US$180 billion annually and skyrockets to US$280-500 billion as we get closer to 2050. The past five years are among the warmest ever recorded and the economic impacts from tropical […]

Climate risk protection gaps need capital market (ILS) solutions

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FULL ORIGINAL PUBLICATION HERE The physical climate risk protection gap, so the gulf between climate related losses covered by insurance, reinsurance or risk transfer and those going uncovered, is widening, but instruments such as insurance-linked securities (ILS), catastrophe bonds and other blended financing solutions can help to narrow this gap. In real estate the climate […]

FULL ORIGINAL PUBLICATION HERE Asia will drive the growth of the global insurance market in the years to come. Technological innovation along with solid financing and the right policies will be needed to make sure as many people as possible in the region get the insurance protection they need. The demand for insurance in Asia […]

PDF VERSION AVAILABLE HERE. FULL REPORT CAN BE DOWLOADED FOR FREE HERE. Investing in private markets remains a prevalent strategy for institutional asset owners, and one that has demonstrated resilience even through the duration of the first quarter of this year as the Covid-19 pandemic spread across the globe. This is not to say private […]