european

Creating deeper catastrophe bond markets could help in tackling the climate insurance protection gap in Europe, according to the European Central Bank’s (ECB) Margherita Giuzio.

As we reported back in April, the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) have highlighted the use of catastrophe bonds as critical to support the supply of catastrophe insurance and reinsurance across the region, while also proposing issuance is brought closer to home.

A new paper from the European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) highlights the potential for increased use of catastrophe bonds to support the overall supply of catastrophe insurance across the European Union (EU), as climate change threatens to widen the protection gap. According to the joint discussion paper, […]

Catastrophe bond market participants will be pleased to see a new cat bond deal come to market during these typically lean summer months when primary issuance slows down. The new cat bond transaction, which is the 21st deal of the year according to our Deal Directory, is being issued through Bermudian special purpose insurer Eurus […]

We covered two interesting insights from Aon Benfield’s recently published ILS Second Quarter Update 2011 report last week when we wrote about the Aon Benfield ILS indices and the heightened interest in catastrophe bonds among Japanese insurers. A third insight from the report looks at the cat bond market in Europe and the potential for […]

Hot on the heels of the completion of the recent Green Valley catastrophe bond another cat bond transaction designed to cover windstorm risks in Europe has begun marketing to investors. This €150m Calypso Capital Ltd. issuance is being arranged by GC Securities and Swiss Re Capital Markets on behalf of AXA Global P&C.

Swiss Re are bringing to market a second catastrophe bond under the Green Valley Ltd. Cayman Islands domiciled special purpose vehicle on behalf of French insurer Groupama. The transaction which comprises €100m of insurance-linked securities is expected to be completed within the next two weeks.

PERILS AG seem to be experiencing very positive growth of transactions utilising their industry loss indices. They last reported the volume of transactions using their index at $250m for the first six months of 2010. Judging by their latest announcement they are successfully building on that momentum and their products are becoming widely accepted.

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has announced that its loss estimates for European windstorm Xynthia have risen in its latest update on loss development for the storm.

AIR Worldwide have announced a major update to their European wind risk model. This is particularly relevant (and good timing) as we are nearing the season for European windstorms and the insurance-linked security market expects a number of European windstorm cat bonds before the end of the year.