catastrophe swap


Philippines gets disaster insurance pilot & $500m disaster contingent loan from ADB

The Asian Development Bank (ADB) has launched its first pilot disaster insurance scheme in the Philippines and has also approved a $500 million loan for the country that is contingent on a natural disaster or public health emergency occurring. The contingent loan facility is similar to the World Bank catastrophe deferred read the full article →

Parametric & ILS risk financing rising up agendas in Asia-Pacific

Discussions on the use of insurance, reinsurance and capital market products for disaster risk financing are rising up the agendas of international meetings focused on the Asia-Pacific region. Stronger cooperation on disaster risk financing and insurance (DRFI) strategies have been called for among the member-states of the Association of Southeast Asian read the full article →

Hiscox Re ILS funds participate in Philippines sovereign parametric renewal

Hiscox Re ILS deployed capacity into the recent renewal of the Philippines sovereign parametric disaster insurance facility, adding to the amount of third-party capital now backing this risk transfer program. The Philippines parametric natural disaster insurance cover provides 25 provinces in the country with disaster insurance cover against major typhoon and read the full article →

Philippines parametric insurance doubles, cat bond on the way: World Bank

The recently renewed Philippines parametric natural disaster insurance cover was completed at $390 million in size, around double the prior year, and the World Bank has confirmed that work is underway to issue a catastrophe bond to extend disaster protection for the country. We covered this renewal back in December, when read the full article →

Nephila, AP3 & reinsurers back upsized Philippines parametric renewal

Insurance-linked securities (ILS) investment fund manager Nephila Capital and Swedish state sector pension fund AP3 have both backed a near $390 million renewal for the Philippines regional parametric disaster insurance program. The so-called Parametric Insurance Policy provides insurance protection for disasters across 25 provinces on the Philippine eastern seaboard, with a read the full article →

World Bank arranges $206m catastrophe swap for the Philippines

The World Bank has been involved in another risk-linked transaction with the completion of a catastrophe swap transaction that benefits the Philippines, providing the government with a source of parametric risk transfer against losses caused by typhoons or earthquakes. The Philippines has been seeking assistance with disaster insurance for a number read the full article →

Munich Re and Tokio Marine in catastrophe swap deal

Munich Re and Tokio Marine Nichido Fire have closed a private catastrophe swap deal based on the Risk Management Solutions (RMS) Paradex-Europe Windstorm industry loss index. This transaction brings the total notional amount of risk transferred using Paradex to in excess of $250m. Having indices of losses available (via third-party sources) read the full article →