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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Fitch sees “breakout” potential for ILS, could double by 2030

The insurance-linked securities (ILS) market has "breakout" potential as the sector returns to growth, increasing numbers of new sponsors enter the market, including from outside of insurance and reinsurance, but the real catalysts for future expansion could be climate change and ESG, Fitch Ratings believes. Fitch has a particularly bullish outlook read the full article →

Physical climate risk to major US banks over $250 billion annually: Ceres

Research from Ceres, the non-profit focused on sustainability challenges such as global climate change and water scarcity and their implications, has found that major US banks have more than $250 billion of exposure to physical climate risks annually sitting in their loan portfolios. In fact, the research found that of $2.2 read the full article →

Global Parametrics links climate risk transfer to microfinance funding

Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives. CRED, or the Climate Resilience Enhanced Debt (CRED) product, has been jointly developed by Global Parametrics and Enabling Qapital, an impact investor and advisor read the full article →

Climate change a threat, but also largest growth opportunity: Swiss Re

Global reinsurance company Swiss Re forecasted that global premium growth is going to continue, as the need for insurance continues to grow, alongside heightened risk awareness, while client needs evolve at the same time. Swiss Re forecasts that non-life insurance premiums will have grown 10% above their pre-COVID-19 level by the read the full article →

Climate risk to drive property premiums and cat losses much higher: Swiss Re

Global reinsurance company Swiss Re expects that property and casualty (P&C) insurance premiums will grow considerably over the next two decades, with a near doubling expected. Climate risk will be a major driver of this, resulting in a significant boost to new property P&C premiums written, but also to expected read the full article →

More people move into climate risk exposed US regions, than out

It's always been clear that the coastline is a popular place to live and the high-value homes that are increasingly built in some coastal regions ramp up insured exposure values in the face of storms and hurricanes. But it's not just on the coasts, as other parts of the United read the full article →

Arbol’s Captive+Parametric to help corporations manage climate risk

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has launched an intriguing new solution named Captive+Parametric, which is designed to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive structures. Launched in Vermont yesterday, Arbol, which read the full article →

Climate change(s) irreversible over thousands of years, warns IPCC report

Climate change is running away from us, is the stark warning from the Intergovernmental Panel on Climate Change 's (IPCC) Report, which was published today. "Many of the changes observed in the climate are unprecedented in thousands, if not hundreds of thousands of years, and some of the changes already set read the full article →

Lloyd’s calls for re/insurance, investor & Gov work on disaster risk financing

The Lloyd's insurance and reinsurance market has put out a call for a coordinated effort to enhance the disaster resilience of developing and developed economies, by bringing together the re/insurance sector with investors and governments to create new financial solutions. Lloyd's launched a new report today called Insuring a sustainable, greener read the full article →

California climate insurance (with parametrics, risk pools & even cat bonds)

The California Climate Insurance Working Group has issued a report detailing 40 state and local policy recommendations covering resilience building and risk transfer, with an over-arching theme that suggests innovative climate insurance and risk transfer is required, especially integrated solutions that consider communities alongside risk reduction. Within the recommendations parametric insurance read the full article →