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ILS gains attention as climate change felt around the world: HK IA’s Cheung

On announcing the completion of the second catastrophe bond issuance domiciled in Hong Kong, the Insurance Authority's CEO Clement Cheung explained that insurance-linked securities (ILS) are a focus as they gain increasing attention. The Insurance Authority said that it welcomes the second issuance of insurance-linked securities (ILS) in Hong Kong. As we've read the full article →

Chinese insurers sponsoring HK cat bonds get favourable capital treatment

Credit risk charges for mainland China insurance and reinsurance company sponsors of catastrophe bonds issued through Hong Kong insurance-linked securities (ILS) structures will be lower than the capital charges applied for ceding risk to reinsurance companies. Chinese regulator, the China Banking and Insurance Regulatory Commission (CBIRC), has now included preferential treatment read the full article →

Data key to delivering Hong Kong and China’s ILS goals

The availability of robust data sets and information on losses will be key for Hong Kong and China to deliver on their goals for insurance-linked securities (ILS) market development, according to speakers at a recent conference. The first Hong Kong domiciled catastrophe bond, China Re's $30 million Greater Bay Re Ltd. read the full article →

Enormous potential for cat bonds in Greater Bay Area: Hong Kong’s Carrie Lam

Carrie Lam, Chief Executive of the Government of Hong Kong, sees "enormous potential" for catastrophe bonds and insurance-linked securities (ILS) to provide important disaster risk capital to underpin risks in the Greater Bay Area. The Greater Bay Area, also known as the Guangdong - Hong Kong - Macau Greater Bay Area, read the full article →

Inaugural cat bond a clear vote of confidence in Hong Kong: Regulator

The inaugural catastrophe bond issuance in Hong Kong is a clear vote of confidence in the Special Administrative Region (SAR) and a sign of the exciting opportunities that lie ahead, according to regulator the Insurance Authority (IA). The implementation of Hong Kong's insurance-linked securities (ILS) regulatory regime and the legislation necessary read the full article →

Local investors took meaningful chunk of Greater Bay Re cat bond: Aon

The first catastrophe bond to be issued out of Hong Kong positions the emerging insurance-linked securities (ILS) domicile as a gateway to global institutional capital for China's risk transfer and reinsurance needs, according to Aon Securities, who also highlighted that local investors participated in the transaction. Aon Securities, the capital markets read the full article →

Catastrophe bonds broaden China’s risk diversification channels: China Re

The issuance of the first catastrophe bond through Hong Kong has helped to open up a new channel for risk diversification for the domestic catastrophe insurance market, according to the sponsor of the Greater Bay Re Ltd. (Series 2021-1), China Re Group. Last week we reported that China Re had successfully read the full article →

First Hong Kong cat bond, Greater Bay Re gets China Re $30m of typhoon cover

The very first catastrophe bond to be issued out of Hong Kong has now been completed, with a $30 million Greater Bay Re Ltd. (Series 2021-1) cat bond coming to market on behalf of sponsoring reinsurer China Re. The transaction actually completed in September, but has only come to light this read the full article →

China regulator calls on insurers to sponsor cat bonds in Hong Kong

China's insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks. The China Banking and Insurance Regulatory Commission (CBIRC) said in a notice that domestic Chinese insurers read the full article →

ILS can challenge reinsurance capacity in Asia: MS Amlin’s Ho

In emerging Asia, there are opportunities for insurance-linked securities (ILS), despite the perception that reinsurance markets across the region remain in a developing phase, according to William Ho, Chief Executive Officer (CEO) of MS Amlin Asia Pacific, and Head of Reinsurance for Asia, MS Amlin. With the exception of Japan, which read the full article →