Archive for June, 2012

It’s been a varied week of news over the last seven days here on Artemis. With topics covered including the catastrophe bond market and insurance-linked securities, more longevity risk transfer news and discussion of new reinsurance sidecars and the retro market. As ever on a Monday morning, here are the ten articles which received the […]

The UK’s pension industry is leading the way in approaching longevity risk transfer and pension plan de-risking with the use of instruments such as longevity swaps, but the rest of the world is starting to take more notice as the risk of pensioners living longer than expected becomes a priority for defined benefit pension markets […]

Governments should seek to avoid becoming the insurers of last resort when disaster strikes by choosing to buy protection through ex-ante risk financing mechanisms offered by the insurance and reinsurance markets. Despite a trend towards more catastrophe insurance coverage, the increasing uptake is not keeping pace with the growing amount of uninsured losses and this […]

Earlier this week we wrote that the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries, had finalised their renewals for the 2012-2013 policy year. All 16 of their member countries renewed their hurricane and earthquake cover and now the CCRIF are actively […]

The catastrophe bond market has seen a busy year so far in 2012 with the total volume of new cat bond issuances now sitting at $3.588 billion according to the data in our Deal Directory. As fast as the market grows from new issuances though it is of course shedding capacity at the other end […]

A new report from modeling, data and analytics firm CoreLogic shows that despite the focus often being on Florida and the Gulf Coast states, the real exposure to hurricanes exists in the New York metropolitan area, including New Jersey and Long Island. Their report which looks at hurricane storm surge risk and damage potential across […]

This year saw the groundbreaking issuance of the largest catastrophe bond to ever by first time sponsor Florida’s Citizens Property Insurance. The $750m cat bond Everglades Re Ltd. provides Citizens with a source of collateralized reinsurance cover for a portion of their coastal account, their peak risk zones along the Florida coastline. Not only was this […]

Yesterday we wrote that U.S. insurer Travelers had successfully completed their latest catastrophe bond Long Point Re III Ltd. but today we’ve seen that Travelers 2009 issue cat bond Longpoint Re II Ltd. is a cause for some concern for the firm. Cat bonds usually contain clauses that state the triggering parameters such as attachment […]

U.S. insurer Travelers have successfully completed their latest catastrophe bond Long Point Re III Ltd. today. It’s Travelers third trip to the cat bond market with two previous deals, Longpoint Re Ltd. and Longpoint Re II Ltd., having been transacted previously. The successful issuance of this $250m cat bond takes 2012 volumes to $3.588 billion […]

The month of May has seen a reversal of the typical seasonal price declines that are seen in U.S. hurricane exposed catastrophe bonds during the first half of the year. These hurricane cat bonds experience seasonal declines in price as thoughts turn to the U.S. hurricane season which is approaching. This year however anticipation of […]