A report published today by reinsurer Swiss Re looks at the growing energy markets, how they are forecast to change and grow as renewable energy sources become ever more important and policy begins to reflect climate science and how they will require financing and risk transfer solutions. The report identifies a growing opportunity for reinsurers, […]
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Over the course of 2012 the island of Bermuda become home to 53 new international insurers, four new insurance agencies, five new insurance managers and two insurance brokerages. Of the insurers, 27 are Special Purpose Insurers and most of these have been formed to undertake some kind of fully collateralised reinsurance often with third-party capital […]
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The second estimate of hurricane Sandy insured losses has been released by Property Claims Services (PCS) this week. The first estimate of $11 billion which PCS reported in November has been increased by 70% to a new total of $18.75 billion. This number is very close to the total of reported loss estimates from insurers […]
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Alternative investment manager LGT Capital Partners, has won a £280m mandate to manage a portfolio of alternative investments for UK local authority Hertfordshire County Council. It is one of the largest mandates focusing solely on alternative asset classes from a UK authority pension fund underscoring the attractiveness of alternatives at the moment. The mandate covers […]
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The Lakeside Re III Ltd. catastrophe bond which completed in December brought benefits to sponsoring insurance group Zurich beyond purely transferring risk to the capital markets. The $270m U.S. and Canada earthquake cat bond provides Zurich with a multi-year source of collateralized reinsurance indemnification on an annual aggregate basis. It is Zurich’s third cat bond in […]
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Investment manager Dexion Capital’s has published the first half-yearly report for its insurance-linked security (ILS) fund offering DCG Iris Ltd. The report which looks at the period from launch in June 2012 to the end of November, provides an overview of the funds progress and reveals that over that period the fund returned 1.88%. The […]
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It’s two weeks since we last looked at the Swiss Re Cat Bond Performance Indices, to see what they can tell us about pricing and returns in the secondary market for catastrophe bonds, and the indices have continued to make gains although the upwards trajectory has slowed significantly. When we last looked the indices were […]
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Yet another third-party capital reinsurance vehicle has launched and this along with news of solar weather risks and the sale of Goldman Sachs reinsurance operations were popular stories in the last week. As always, you can read every market news story and article on the Artemis news blog, subscribe to our weekly email newsletter update […]
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The average expected losses, as measured at deal issuance, of the outstanding catastrophe bond market remained relatively static throughout 2012, according to data from insurance-linked securities consultancy Lane Financial LLC. In its latest quarterly ILS market update report data shows that the average expected loss has risen by just .01 over the course of the year. […]
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Once again the demand for a new insurance-linked securities transaction has been significantly above the volume of notes being issued enabling the price to be pushed down to well below the range it was initially marketed at. Aetna’s latest Vitality Re IV Ltd. (Series 2013-1) medical benefit linked securitization saw a great deal of demand […]
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A new disaster insurance facility has been officially launched today to provide parametric insurance cover for tropical cyclone (typhoon) and earthquake, including tsunami, risks to a group of Pacific Islands. The pilot project, launched today by the World Bank and the Secretariat of the Pacific Community (SPC) Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) […]
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The latest sigma report published by reinsurer Swiss Re discusses the issue of agricultural insurance and reinsurance in emerging markets and suggests that premiums are set to grow fourfold over the next decade or so. Currently the emerging economies of the world make up around 22% of global agricultural insurance premiums, at $5.2 billion, with […]
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In its latest quarterly report on the catastrophe bond and insurance-linked securities market reinsurance broker Aon Benfield takes a look at some of the cat bonds which were marked down due to hurricane Sandy. A selection of cat bonds faced greater mark-to-market losses than the rest due to the higher potential for loss. Despite mark-to-market […]
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The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries, has announced the appointment of its first full-time Chief Executive Officer. As of the 1st January 2013, Mr. Isaac Anthony from Saint Lucia, a CCRIF board member of five years takes on the […]
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