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Climate change adaptation financing can benefit from partnership with ILS

Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area.Public authorities are showing renewed and increasing interest in climate adaptation, while read the full article →

Climate change “front & center” with ILS investors, industry focus intensifies

Climate change and how it influences or affects global weather patterns and the frequency or severity of weather related natural catastrophe loss events, is "front and center" for investors right now, while the reinsurance industry in general is increasingly focused on the issue.As we explained earlier this week, our latest read the full article →

Study finds hurricanes more destructive, most damaging more frequent

A new study looking at the damage caused by hurricanes since 1900 concludes that there is a trend towards larger and more destructive storms, while the most damaging of them are said to be occurring more frequently, with climate change and global warming said a driver.The subject of hurricane damage, read the full article →

Faxai loss to near $10bn, Hagibis $15bn, climate change a factor: RenRe CEO

The CEO of reinsurance firm RenaissanceRe said that his company believes typhoon Faxai could drive as much as a $10 billion industry loss, while the more recent typhoon Hagibis could a roughly 50% larger bigger at approximately $15 billion.The figures are certainly at the higher-end of current industry estimations (or read the full article →

ILS an “important part” of Insurance Development Forum’s work: Ekhosuehi Iyahen

The Insurance Development Forum (IDF) considers insurance-linked securities (ILS) to be an “important part” of the work it aims to do, according to Secretary General Ekhosuehi Iyahen.Speaking at a recent lecture in the Old Library at Lloyd’s of London, Iyahen said it was in the interest of the IDF to read the full article →

ARC progresses climate cat bond facility XCF, signs up UN support

The African Risk Capacity (ARC) is continuing to make progress towards the launch of its Extreme Climate Facility (XCF), a proposed multi-year funding mechanism that will issue climate change catastrophe bonds to help African nations transfer climate change related exposure to the capital markets.The African Risk Capacity (ARC) first launched read the full article →

Parametric ILS “vital” to reduce protection gaps, increase resilience: Mark Carney, Bank of England

Mark Carney, the Governor of the Bank of England, discussed the role of insurance and reinsurance technology as an essential financial took to smooth the world's transition to a 1.5 degree world and highlighted the role of insurance-linked securities (ILS) within that.Speaking on Sunday in New York, on the sidelines read the full article →

IDF members commit $5bn of capacity to support InsuResilience goals

Members of the Insurance Development Forum (IDF) have committed to provide up to US $5 billion of risk capacity to support delivery of the InsuResilience Vision 2025 goals, while the United Nations and other sovereign actors have committed to extending climate and disaster insurance to 500 million.Announced yesterday in New read the full article →

Insurance resilience improved, but record protection gaps remain: Swiss Re

While insurance resilience against catastrophes, mortality and healthcare related risks has been rising, a record sized protection gap remains, according to insight from global reinsurance firm Swiss Re.The reinsurer believes the global economy now actually has less capacity to absorb a shock than it did over a decade ago in read the full article →

Climate change risk perception contributes to ILS slowdown: Fitch

Among all the reasons for inflows of alternative reinsurance capital into insurance-linked securities (ILS) slowing down over recent months, Fitch Ratings believes that climate change is a factor.The rating agency said today that the recent slowdown in ILS market inflows is expected to continue for a little longer, while the read the full article →