Archive for January, 2019

The Philippines, the Asian Development Bank and private market entities are working to develop a parametric disaster insurance pooling facility for Philippine cities to buy protection from, backed by reinsurance and capital markets funding.

The insurance and reinsurance industry loss estimate for extratropical cyclone, or European windstorm, Friederike (also known as David), has been finalised at roughly $1.9 billion (EUR 1.672bn).

Health insurance giant Aetna will be delighted with the response from ILS investors to its latest and tenth health or medical benefit risk ILS transaction, the $200 million Vitality Re X Ltd. (Series 2019) deal, as pricing falls to the bottom of initial guidance.

There has been another successful renewal of the private catastrophe bond sponsored by Latin American reinsurance firm Terra Brasis Re, which is underwritten and invested in by AlphaCat Managers, with a $5 million Alpha Terra Validus III transaction issued for 2019.

Cayman Islands based reinsurance firm Oxbridge Re Ltd. said that its fully collateralized reinsurance sidecar vehicle Oxbridge Re NS Ltd. will support the firms losses from both hurricane Michael and the California wildfires in Q4 2018.

Blue Capital Reinsurance Holdings Ltd., the stock exchange listed, collateralized reinsurer owned by Sompo International Holdings Ltd., has announced a raised estimate for Q4 catastrophe losses, as well as further loss creep from hurricane Irma.

The World Bank Group will double its financing of climate change adaptation and resilience related projects, with one area of focus being the delivery and facilitation of financial protection instruments that can help countries respond early to, and recover faster from, climate and disaster shocks.

Reinsurance buyers are rethinking their strategies and retention levels in the wake of two years that drove over $200 billion of losses through the sector, when the frequency of smaller to mid-sized losses has become a talking point, according to Willis Re.

Rational Funds said that the launch of the open-ended mutual Context Insurance Linked Income Fund in partnership with Context Capital Partners sees it bringing an ILS strategy with a difference to all investors able to access mutual funds.

Digital risk trading insurtech start-up Akinova has secured an investment boost from reinsurance firm Hiscox Re and the venture arm of Japanese insurance holding company MS&AD.