Index-based, or parametric structured insurance solutions, while beneficial and expanding across the world, require greater supervision, according to Lead Insurance Specialist at the World Bank, Craig Thorburn.
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Everglades Re II termination notice filed

by Artemis on March 24, 2017

An optional termination notice was issued by the Everglades Re II Ltd. (Series 2015-1) catastrophe bond vehicle to its investors this week, confirming that Florida’s Citizens Property Insurance Corporation is redeeming the bond early.
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Among traditional reinsurance players there still seems to be a tendency to believe that reinsurance pricing will bounce back just as soon as losses normalise, a view held by some of the largest reinsurers. Is this Ostrich syndrome, or wishful thinking?
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The Stock Exchange of Thailand (SET) is assessing launching weather futures and perhaps other weather derivatives in order to provide weather risk management tools in an exchange traded environment for farmers.
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Primary insurance and reinsurance group Chubb Ltd. dramatically increased its cessions of reinsurance premiums to total-return vehicle ABR Reinsurance Ltd. by 144% in 2016, ceding $288 million during the full-year.
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Aon Hewitt helps Phoenix unwind its longevity swap

March 23, 2017

UK closed life and pension fund consolidator Phoenix Group has unwound its 2014 £900 million longevity swap transaction with the help of Aon Hewitt, shifting to an annuity arrangement which it received beneficial pricing on thanks to having the swap arranged in advance.

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ILS market response to Buffalo Re cat bond impressive: McConnell, ICAT

March 23, 2017

Artemis recently spoke with Megan McConnell, Active Underwriter at Lloyd’s of London ICAT Syndicates 4242 and 6123, following the successful issuance of its first 144A catastrophe bond, Buffalo Re Ltd. (Series 2017-1).

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Reinsurers lose 20% of market share to alternatives: Conning

March 22, 2017

A new study from Conning found that reinsurance companies are under pressure from all angles alternative, with the capital markets, captives and government-sponsored entities all taking risk that was once their domain.

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Leadenhall hires Adrian Mark from RMS as non-life analyst

March 22, 2017

Specialist London headquartered insurance and reinsurance linked securities investment management firm Leadenhall Capital Partners has hired Adrian Mark as an Analyst within the ILS managers Non-Life Investments team.

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Blue Capital listed fund to redeem shares, providing liquidity certainty

March 22, 2017

The Blue Capital Global Reinsurance Fund, the London and Bermuda stock exchange listed reinsurance linked investment fund managed by the Endurance owned Blue Capital Management, has announced it is to redeem almost $13.14 million of shares from its investors.

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Kilimanjaro II Re 2017 cat bond targets $600m of cover for Everest Re

March 22, 2017

Global reinsurance specialist Everest Re is returning to the catastrophe bond market seeking $600 million or more of retrocessional protection split between two series of Kilimanjaro II Re Limited cat bonds, in 2017-1 and 2017-2 issues.

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Presence of ILS being felt in U.S. commercial property insurance: S&P

March 21, 2017

The presence of institutional investor backed capacity from the capital markets, wielded by the world’s leading ILS fund managers is being felt in the U.S. primary commercial property insurance market, according to Standard & Poor’s.

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Collateralized ILS markets increase share of Heritage’s reinsurance

March 21, 2017

Collateralized reinsurance markets and ILS funds have significantly increased their share of the insurer Heritage’s risk transfer program, with a number of new ILS managers featuring in the company’s latest reinsurance program disclosure.

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Demand pushes secondary cat bond prices higher in February 2017

March 21, 2017

The excess demand for investments in catastrophe bonds has begun taking its toll on the secondary market in 2017 already, beginning to push prices higher as issuance in the primary market fails to keep up with demand.

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As pressure proves unsustainable, reinsurance cycle set to change

March 21, 2017

Pressure on reinsurance rates is unsustainable over the long-term, despite ceding companies desire to take advantage of soft market conditions A.M. Best believes, but the changes in buying and market dynamics are likely to result in a changed cycle.

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