Archive for April, 2016

TigerRisk Partners LLC, the catastrophe reinsurance broker and risk/capital management advisor, has added insurance-linked securities (ILS) structuring expert Philipp Kusche to its ranks, as Partner and Global Head of ILS and Capital Solutions.

U.S. military mutual insurer USAA is returning to the capital markets for its latest, and 27th securitization of insurance risk, with a $150m, three tranche, Residential Reinsurance 2016 Limited (Series 2016-1) catastrophe bond.

An $85m private catastrophe bond, or cat bond lite, transaction has been issued using the platform owned by broker Willis Towers Watson, with the completion and listing of a Resilience Re Ltd. (Series 1642B) deal.

The CCRIF SPC, formerly known as the Caribbean Catastrophe Risk Insurance Facility, has received fresh backing from the World Bank and the European Commission to help to broaden the access to its parametric insurance products across Central America and the Dominican Republic.

Here are the ten most popular news articles, week ending 17th April 2016, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates.

Ecuador has been hit by a powerful magnitude 7.8 earthquake on Saturday, causing widespread severe damage to buildings and infrastructure, claiming at least 77 lives and causing hundreds of injuries.

A second and larger M7+ earthquake struck the Kumamoto region of Kyushu, the southernmost main island of Japan, during the early hours of Saturday morning local time. Damage in the region is now much more extensive, with many reports of buildings and structures downed.

The European Union is set to discuss proposals for banks and possibly other financial firms to be stress tested for their exposure to climate change related risks, such as extreme weather or floods, according to documents seen be Reuters.

The month of March saw limited activity in the secondary trading market for catastrophe bonds, as new issuance of $565m of more broadly marketed cat bonds and a $300m club deal that wasn’t widely marketed, failed to stimulate much demand for portfolio adjustments.

The past week is set to result in another economic loss of over $1 billion, due to severe convective and thunderstorm weather in the U.S., where the resulting strong winds and hail, with insurance industry losses in the hundreds of millions, according to Aon.