Cat bond news

The global insurance and reinsurance industry could face in the region of $130 billion to as much as $150 billion of losses if a really severe earthquake strikes the Tokyo region of Japan, according to Swiss Re.

The reinsurance sector will likely only feel a “minimal” impact from hurricane Idalia, as its losses are destined to be largely retained by primary insurers, AM Best has said.

The first post-landfall insurance industry loss estimate for hurricane Idalia has now been revealed and Karen Clark and Company have estimated the wind and surge industry loss at just $2.2 billion.

This video of the second session of the day at our recent Artemis ILS Asia 2023 conference, held in Singapore on July 13th 2023, features a fireside chat discussion with Lorenzo Volpi, Deputy CEO and Managing Partner of specialist insurance-linked securities (ILS) investment manager Leadenhall Capital Partners.

The World Bank and the Inter-American Development Bank (IDB) have announced a partnership that will see them working together to improve access to disaster risk financing across the Caribbean region, with catastrophe bonds one instrument in scope.

Early indications are that the insurance and reinsurance industry loss from hurricane Idalia is estimated to be in a range from the high single-digit billions of US dollars, to low double-digit billions, catastrophe bond and ILS investment manager Twelve Capital has said today.

Early estimates for the insurance and reinsurance industry loss caused by the impacts of hurricane Idalia in Florida and southeastern US states appear to be in a range for roughly $3 billion to $9 billion, with most erring towards the lower-half.

The catastrophe bond market looks set to escape any significant impacts from hurricane Idalia, despite the fact a major storm landfall in the state of Florida is typically seen as one of the main events the cat bond market could be exposed to.

Large Canadian institutional retirement fund, the Healthcare of Ontario Pension Plan (HOOPP), grew its allocation to insurance-linked securities (ILS) investments in 2022, with the asset class nearing 1% of its overall portfolio by the end of the year.

There is now only one week to go until our upcoming catastrophe bond and insurance-linked securities (ILS) market conference, Artemis London 2023 on Tuesday September 5th. Register soon to attend as there are a few spaces left!