FULL ORIGINAL PUBLICATION HERE Hong Kong’s Government has revealed some of the details of its proposed insurance-linked securities (ILS) grant scheme, through which it will pay a share of issuance costs for any ILS structures issued out of the Special Administrative Region. The Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of […]

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 […]

FULL ORIGINAL PUBLICATION HERE Central Asian countries will benefit from a better understanding of their natural disaster risks, which in time could lead to greater use of risk transfer, insurance and reinsurance capacity in the region, as the World Bank supports a multi-peril risk assessment project for the region. One of the first steps in […]

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

0

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 […]

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 […]

ORIGINAL PUBLICATION HERE. INTELLIGENT INSURER WEBSITE PUBLICATION HERE. In a webinar hosted by Intelligent Insurer’s Re/insurance Lounge, AkinovA CEO Henri Winand and Kirill Savrassov of Phoenix CRetro explored the possibilities for ILS to expand into new geographies and lines of business. A significant motive for bringing insurance-linked securities (ILS) to new geographies is diversification of […]

Izmir, Turkey earthquake industry loss estimated at EUR 55m by PERILS

0

FULL ORIGINAL PUBLICATION HERE The earthquake that struck off the coast of Turkey on October 30th and devastated some areas including the Izmir region is estimated to have only cost the insurance and reinsurance industry EUR 55 million, according to an estimate from PERILS AG. The earthquake cause significant property damage around the Izmir region, […]