Archive for September, 2011

Our regular readers will know that we try to keep abreast of discussions, news and announcements involving the potential use of catastrophe bonds, insurance-linked securities and innovative risk transfer instruments in new markets around the world. China is one of the markets where catastrophe bonds have been discussed both in relation to the countries domestic […]

The California Earthquake Authority (CEA) completed a ground-breaking $150m catastrophe bond transaction through their newly set-up Embarcadero Re Bermudian reinsurance transformer vehicle at the beginning of August. The transaction was directly transferred to the capital markets through their own Bermuda SPV, thus forgoing the need for a reinsurer participating in the transaction as in their […]

Fonkoze, a lender of micro-loans to small businessmen and farmers in Haiti, have now paid out over $1m in damages to its 3,800 borrowers after heavy rainfall triggered the Microinsurance Catastrophe Risk Organization (MiCRO) policies that they provide along with their loans, according to Microfinance Focus.

Primary catastrophe bond market issuance was slow as expected during the month of August. Traditionally not many new deals come to market during that month as the Atlantic hurricane season picks up, and reflecting that, no new deals began marketing although a few cat bonds completed which had been initiated during July. The secondary market […]

A new PricewaterhouseCoopers (PwC) report titled ‘Daring to be Different‘ which was launched at the Monte Carlo Reinsurance Rendez-vous suggests that the inflow of capital and investment from the capital markets are destined to continue to have profound implications for the reinsurance industry. The report discusses the fact that capital markets interest in traditional reinsurers […]

The Bermuda Stock Exchange (BSX) have issued a press release announcing that they now play host to over $2 billion worth of insurance-linked securities and catastrophe bonds. The value of ILS listed on the BSX has doubled since July 2010 and this is the first time that the value of ILS listed on the island […]

Risk Management Solutions (RMS) have published an estimate of insured losses resulting from the recent hurricane Irene. Their estimate only includes wind and surge impacts covering both the U.S. and Caribbean, so doesn’t include any inland flooding from heavy rainfall or any National Flood Insurance Program losses from surge and rain.

Risk modeller AIR Worldwide has announced tha launch of updated versions of their European windstorm and European earthquake catastrophe risk models. The new versions of the models feature updates, include new data, cover new countries and AIR say provide “a consistent and comprehensive assessment of the extratropical cyclone and earthquake risk throughout Europe.”

As longevity risk becomes increasingly recognised by pension schemes, life insurers and investors its development as an asset class is growing said experts at a recent conference. The UK has been leading the way in the development of longevity risk transfer techniques but interest is growing in the U.S. and around the world as those […]

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices, continues to gain traction as the preferred source of European windstorm loss data and index tools. They announced today that their PERILS industry loss index has been involved in just over $2.79 billion worth of risk transfer transactions since the […]