Archive for March, 2021

The very first catastrophe bond covering pure volcanic eruption risk has now been completed, with a $3 million privately placed issuance brought to market by Replexus and Howden Capital Markets and backed by leading cat bond investors for the Danish Red Cross.

Here are the ten most popular news articles, week ending 21st March 2021, 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 or get our email alerts for every article we publish.

Global primary insurance carrier and reinsurance company Chubb has confirmed that it made a roughly $23.24 billion offer for rival the Hartford, offering $65 per share, a deal that falls short of the acquiree’s now boosted valuation of $24.36 billion.

The longest running reinsurance gathering in the world, the Rendez-Vous de Septembre (RVS) or Monte Carlo Rendez-Vous, has been cancelled for the second year running, on fears the pandemic will not be sufficiently behind us by this September.

At the recent January 1st 2021 reinsurance renewals, the expectations for significant impairment to some insurance-linked securities (ILS) strategies because of trapped collateral due to exposure to the COVID-19 pandemic proved overblown.

A consistent flow of information, which incorporates a common language throughout the transaction chain, is vital for meaningful insurance-linked securities (ILS) participation outside of the natural catastrophe space, according to industry experts.

Canada Life Reinsurance has taken EUR 4.7 billion of long-term longevity risk off the hands of life and annuities focused insurer Athora’s European arm in a recent longevity reinsurance arrangement.

Weather intelligence startup Skyfora, which is based in Helsinki, Finland, has developed an artificial intelligence powered tropical storm intensity forecasts tool, which it believes can give insurance, reinsurance and ILS market participants enhanced insights into potential hurricane landfall impacts.

Following a consultation period, Hong Kong’s new insurance-linked securities (ILS) rules have been amended to reduce the minimum investment size required in an issuance down from US $1 million to US $250,000, while guidance on what constitutes a qualified investor has also been tightened.

According to a report published on Bloomberg, global primary insurance carrier and reinsurance company Chubb is looking at significant expansion opportunities, with a potential $22 billion acquisition of the Hartford said to be being explored. Update: Chubb confirmed it had made a $23.24bn offer for the Hartford.