Climate change & climate risk related news

Insurance-linked securities (ILS), catastrophe bond and reinsurance capital news of relevance to climate change, climate risk and climate adaptation.

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Climate risks could drag on re/insurers annual profits by 10-15%: UK PRA’s Woods

Having now published the results of its Climate Biennial Exploratory Scenario (CBES), looking at the financial risks posed by climate change for the largest banks and insurers operating in the UK, the Bank of England believes that over-time climate risks could become a persistent drag on earnings. While projections of climate read the full article →

Investors coming back to the table on climate change: Aeolus’ Fischer

Investors are becoming increasingly engaged in understanding how climate change could affect portfolios of insurance-linked securities (ILS) and the work that is being done at investment managers to understand that, with many taking the time to "come back to the table", according to Aeolus Capital Management's Frank Fischer. Speaking with us read the full article →

Leveraging climate research in ILS decision-making: Aeolus interview

This new Artemis Live video saw us interviewing senior executives at insurance-linked securities (ILS) and reinsurance investment manager Aeolus Capital Management, to discuss their ongoing program of climate risk research and how that is playing into investment decision-making at the firm. Aeolus' Chief Analytics Officer, Frank Fischer and Head of Research, read the full article →

Being viewed as ESG positive is not enough for ILS: Prabis, Hiscox ILS

Interest in the relevance of insurance-linked securities (ILS) from an ESG standpoint continues to grow, but while there’s consensus that the market has a role to play, being viewed as positive is not enough, according to Vincent Prabis, Managing Principal at Hiscox ILS. We spoke with Prabis as part of our read the full article →

Re2 Capital climate risk venture launched by Nephila alumni

Re2 Capital has been launched by three well-known former employees of ILS manager Nephila Capital, with a mission to structure innovative climate risk transfer and financing solutions that can connect private investment capital and risk capacity to climate-linked opportunities. Re2 Capital is the brainchild of three alumni of Nephila Climate, the read the full article →

SEC’s climate risk disclosure rules to drive risk mgmt & transfer spend

As the US Securities & Exchange Commission (SEC) publishes a new set of proposed rules on climate risk disclosure, it's becoming increasingly clear regulating for climate risk reporting is going to drive risk management and risk transfer spend, with ramifications and opportunity for insurance, reinsurance and insurance-linked securities (ILS). Yesterday, the read the full article →

Lemonade launches crypto parametric climate insurance coalition

Insurtech Lemonade has launched a parametric climate risk transfer initiative that will utilise the blockchain and cryptocurrency technology to deliver affordable climate insurance to the world's most vulnerable farmers. Launched by its foundation, Lemonade Foundation, the Lemonade Crypto Climate Coalition has been constituted using a crypto feature as a Decentralized Autonomous read the full article →

RenRe names Carr Global Head, Climate & Sustainability Strategy

RenaissanceRe, the Bermuda headquartered reinsurance underwriting firm and third-party capital manager has appointed long-serving employee and former global property catastrophe head Cathal Carr to lead its climate and sustainability strategy. Carr became Senior Vice President Underwriting and Global Head of the Climate & Sustainability Strategy at RenaissanceRe (RenRe) this month. He joined read the full article →

RMS expands climate change models to assess long-term impacts

Catastrophe risk modeller RMS has revealed some changes to its climate change models in the U.S. and Japan, designed to address the growing need for climate change analytics in operational underwriting and portfolio management activities. The need for risk models to account for the impacts of climate change is a hot read the full article →

Hiscox ILS plans growth, raised new assets for 2022: Prabis interview

Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting unit of specialist underwriter Hiscox Group, had a successful renewals and now targets growth in 2022, with some additional assets raised for 1/1, Vincent Prabis explained in a recent video interview. In the next in our series of sponsor showcase video read the full article →