The Ambassador US mutual catastrophe bond fund strategy operated by advisor Embassy Asset Management has continued to attract inflows from investors through the Atlantic hurricane season, reaching more than $329 million in assets under management (AUM) this month.
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According to executives at the World Bank, artificial intelligence (AI) based improvements to catastrophe risk modelling could in future allow more transactions to be brought to the catastrophe bond market, with less lead time and potentially wider investor acceptance.
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Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager, has reached a new milestone in terms of third-party assets under management, surpassing $4 billion for the very first time across its cat bond and ILS portfolios.
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African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, is continuing to expand its risk pool, with the latest addition being Ghana, whose government has just purchased its first sovereign parametric drought insurance policy.
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Recent Atlantic hurricane activity is likely to only drive “limited” losses to top-layer insurance-linked securities (ILS) strategies, such as catastrophe bonds, but will contribute to keeping spreads in the ILS asset class “historically high”, Schroders Capital’s Nils Rode has said.
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The CEO of Heritage Insurance Holdings, Inc., the Florida headquartered property and casualty insurer, has warned that its gross losses from recent hurricane Milton could reach the third layer of its reinsurance tower, suggesting a reasonable amount of risk capital will support its claims from the storm.
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African Risk Capacity Ltd. has provided parametric insurance and Munich Re has provided parametric reinsurance to support an innovative disaster-adapted loan offering from the West African Development Bank (BOAD).
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At MS Amlin, there is an ambition to grow and broaden the scope of the innovative Phoenix reinsurance sidecar series of deals, and William Ho, the CEO of MS Amlin Asia Pacific, told us about the opportunity this presents to investors.
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Global reinsurance giant Munich Re has pre-announced an expectation of around €500 million in losses from September’s hurricane Helene, but while the reinsurer expects significant additional claims expenditure from hurricane Milton in Q4, the company is still forecasting it will beat its full-year profit target.
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Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor, has now secured the targeted $95 million of earthquake insurance protection from its new Logistics Re Ltd. (Series 2024-1) US quake catastrophe bond issuance, while the spread was finalised at the low-end of twice reduced guidance, Artemis can report.
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NN Group, or Nationale-Nederlanden, is back in the catastrophe bond market and seeking €75 million or more in collateralised reinsurance to cover European perils with this Orange Capital Re DAC (Series 2024-1) issuance, Artemis has learned.
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K2 Advisors, the hedge fund focused investment management unit of Franklin Templeton, has maintained its overweight view on the catastrophe bond and broader insurance-linked securities (ILS) asset class for the fourth-quarter, citing opportunities it sees in the market as well as the still historically high yields that are available.
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Recognising that demand for asset and wealth management services are set to increase and that certain alternative asset classes are currently less attractive due to their taxation, the government of Hong Kong aims to boost its investment sector with a broadening of profit tax exemptions, with insurance-linked securities (ILS) one asset class in focus.
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The insurance industry loss from October 2023’s European windstorms Babet and Aline has been lowered by almost 8% to €639 million by catastrophe data aggregator PERILS AG, reversing the previous trend of increases.
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