Catastrophe bond news

Here are the ten most popular news articles, week ending November 7th 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.

Mortgage focused insurer Essent Guaranty has returned to the capital markets seeking another $435 million of mortgage reinsurance protection through its latest mortgage insurance-linked securities (ILS) issuance, with a Radnor Re 2021-2 Ltd. deal.

Eclipse Re Ltd., the Horseshoe managed private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform, has issued four more private cat bond series of notes, together totalling $277 million, which now take private cat bond issuance above $1 billion so far in 2021.

One of the clearest examples of a regulators’ intention to force action on climate-related financial risks and ensure entities have the capital resources to absorb their potential future losses from them, came from Bank of England Governor Andrew Bailey yesterday.

Risk transfer and insurance focused public-private partnerships as well as the use of parametric triggers can assist in building global resilience to climate risk, reinsurance giant Munich Re said at the COP26 UN climate conference in Glasgow today.

In the latest new product roll-out to its specialty insurance and reinsurance lines loss reporting services, Property Claim Services (PCS) will now provide data on worldwide aviation loss events.

The Texas Windstorm Insurance Association (TWIA’s) Actuarial & Underwriting Committee met yesterday to review proposals for reinsurance broking services and has voted to recommend the TWIA Board approve a change to Willis Re, which also has ramifications for the issuance of its catastrophe bonds.

A new report calls for an expanding use of risk sharing to help the world tackle the climate emergency and highlights the role of the capital markets, as well as instruments such as ILS and catastrophe bonds, in helping to protect lives and livelihoods against loss and damage during a resilient transition to net zero.

Private insurance-linked securities (ILS) funds, that invest in collateralised reinsurance and retrocession, were the main destination for loss creep from hurricane Ida in September, as a number had to add to their reserves for the loss event.

On Monday November 1st 2021 at the United Nations (UN) Framework Convention on Climate Change Conference of the Parties (COP26) in Glasgow, United Kingdom, it became clear that this is a moment in time where the insurance, reinsurance and insurance-linked securities (ILS) industries have an opportunity to display climate leadership.