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 […]

Jamaica: World Bank cat bond still underway. Gets CCRIF rainfall payout for Zeta & Eta

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FULL ORIGINAL PUBLICATION HERE Jamaica continues to work with the World Bank on a first catastrophe bond for the country the Finance Ministry has said and reflecting the importance of disaster risk financing, in recent weeks it has received a roughly $3.5 million payout under its parametric CCRIF insurance coverage. The payout comes after the […]

Mexico’s cat bond coverage continues, despite shuttering of FONDEN

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FULL ORIGINAL PUBLICATION HERE Mexico’s still in-force $485 million IBRD / FONDEN 2020  catastrophe bond will continue to provide the country with important disaster insurance protection, as the beneficiary of the cover has been shifted away from the shuttered FONDEN disaster fund to the country’s Treasury. We’re told that a notification has been sent to investors […]

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 […]

Indonesia cat bond possible, as World Bank lends for disaster insurance

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FULL ORIGINAL PUBLICATION HERE The World Bank has approved $500 million of funding for Indonesia to help the country enhance its financial response to natural disasters, climate risks, and health-related shocks, with the use of risk pooling, and insurance or reinsurance instruments at the heart of the plan. Between 2014 and 2018, the central government […]

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 […]

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

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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, […]

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 […]

FULL ORIGINAL PUBLICATION HERE Turker Re, a Lloyd’s broker with a significant insurance and reinsurance broking footprint in the Turkish marketplace and surrounding region, has launched a new product offering of a Turkey earthquake industry loss warranty (ILW) as the first under a new Capital Solutions unit. The broker hopes to create a new market […]