ILS funds news, insurance linked securities or ILS fund news

One factor is set to be absolutely key in the United Kingdom’s ambitions to become a hub for insurance-linked securities (ILS) transaction, the speed with which an application to launch a structure can be approved.

New Zealand based primary insurance firm Vero, a subsidiary of the Suncorp Group, expects its “strong reinsurance arrangements” will cover “all expected claims” from the recent earthquake that struck the Kaikoura area.

Insurance-linked securities (ILS), pure catastrophe bond and reinsurance linked investment funds saw a below average return of 0.42% in October 2016, as the majority of hurricane Matthew losses were factored into monthly NAV’s.

Meteo Protect, a weather risk management, data, pricing, broking and structuring firm has entered into a strategic partnership with banking group BNP Paribas to offer its corporate and institutional clients weather risk transfer products.

The implementation of insurance-linked securities (ILS) regulation in the United Kingdom could result in increased opportunity for the capital markets to directly access insurance and reinsurance risk, resulting in increased pressure on pricing and rates, according to analysts.

The UK Government has now published its draft regulations for the facilitation of insurance-linked securities (ILS) business, with the goal of establishing London as an ILS domicile. The publication sets out proposed corporate, tax and regulatory framework for ILS, and has been well received by the London market.

Third-party reinsurance capital continues to search for ways to get closer to the original source of risk as it’s become a permanent and influential force within the global reinsurance market, according to industry experts.

Global reinsurance firm Swiss Re said that the major players are aware of the need for standards in blockchain related technology initiatives and hence the Blockchain Insurance Industry Initiative (B3i) involving some of the world’s largest re/insurers is important.

More information is set to be revealed about the ambitions of the UK to attract some form of insurance-linked securities (ILS) business to London this week, with the government set to include the publication of updated draft regulations in its Autumn Statement on Wednesday.

Reinsurance, catastrophe and weather risk-linked investment fund manager Nephila Capital is set to benefit from a new source of Texas wind insurance risk, as its managing general agency (MGA), Velocity Risk Underwriters LLC. positions itself to take on ex-TWIA homeowners policies.