One of the world’s largest reinsurance companies Swiss Re is returning to the capital markets with its first excess mortality catastrophe bond transaction since 2012, seeking at least $100 million of retrocession through a Vita Capital VI Limited (Series 2015-1) issuance.
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As primary insurance group Federated National Holding Company (FNHC) finds it requires greater volumes of reinsurance capacity, to offset its growing book of premiums, the firm may consider the use of catastrophe bonds, according to the insurers CEO.
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The RAC (2003) Pension Scheme has entered into a longevity swap transaction which sees $900 million (£600m) of its longevity exposure transferred to French reinsurance firm SCOR SE, removing one-quarter of the pension schemes longevity risk.
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In order to maintain, or increase the investor and capital base of the insurance-linked securities (ILS) market, the transparency and liquidity of the 144A cat bond space is essential, according to Swiss Re Capital Markets Director of ILS, Philipp Kusche.
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Here are the ten most popular news articles, week ending 29th November 2015, 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.
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The global trend for growth of reinsurance and insurance-linked securities (ILS) is set to continue and intensify, as investors increasingly look to sit on both sides of the fence, leading experts to predict that new structures and new asset classes are on the ILS horizon.
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There is “no one better able to help the world manage its risks” than the insurance and reinsurance industry (and we would venture the ILS market), according to Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change.
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Market conditions see reinsurance firms struggle to generate desirable returns on the underwriting side of their balance sheets, leading Neil McConachie of Fidelis to ask why they aren’t writing less business and instead shifting capital to try to make a return on the investment side.
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Eight Lloyd’s of London syndicates are teaming up to provide their specialist underwriting skills and $400 million of natural catastrophe insurance and reinsurance capacity to help developing economies build resilience to disaster, climate or weather risks.
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The insurance and reinsurance industry has applauded the decision by the European Commission to find Bermuda and the Bermuda Monetary Authority (BMA) to be fully equivalent under the Solvency II regulatory regime.
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It’s no surprise to read that Standard & Poor’s has withdrawn the majority of the ratings it held on Scottish Re’s 2006 Ballantyne Re Plc Regulation XXX type life insurance-linked securities (ILS), as it no longer sees the market interest in maintaining the ratings.
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The impact of climate change is set to exacerbate the negative effect on sovereign ratings from major natural catastrophe events by 20%, according to Standard & Poor’s, as the loss and damage caused by these events increases due to warmer temperatures.
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Zenkyoren, or the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, is back in the capital markets looking for at least $200 million of reinsurance protection from a Japanese earthquake catastrophe bond issue, Nakama Re Ltd. (Series 2015-1).
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In order to better serve the needs of societies in emerging markets insurers and reinsurers require the structures and capacity of alternative reinsurance and ILS, according to the Deputy Managing Director of the Monetary Authority of Singapore (MAS), Jacqueline Loh.
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