India advised to regulate for insurance-linked securities & cat bonds

In order to develop India's International Financial Services Centre (IFSC) into a competitive global insurance and reinsurance hub, a committee has advised that offering regulated frameworks for insurance-linked securities (ILS) such as catastrophe bonds is critical. India's International Financial Services Centers Authority (IFSCA) put together a committee led by senior insurance read the full article →

Multi-peril crop insurance model for India launched by AIR Worldwide

Catastrophe risk modelling specialist has launched a new multi-peril crop insurance risk model for India, which it believes will help underwriters better understand and estimate potential losses due to yield shortfalls. The firm said that its Multiple Peril Crop Insurance (MPCI) Model for India will assist insurance and reinsurance firm sin read the full article →

Exchange-traded weather insurance products set for launch in India

Once again the discussion of exchange-traded weather risk management products for Indian farms, companies and insurers has come to the fore, but this time the plan is for a product to be launched after September of this year. The National Commodity and Derivatives Exchange (NCDEX) of India has been developing weather-index read the full article →

India’s IRDA has ambitions to see local catastrophe bonds issued

The Indian insurance and reinsurance market is going through a stage of modernisation, with a number of initiatives seeking to better inform consumers, encourage foreign capital into the market and to ready the market for new product developments. India's insurance regulator, the Insurance Regulatory and Development Authority (IRDA), is leading these read the full article →

India’s GIC Re ‘making progress’ on potential catastrophe bond issue

According to a representative of India’s national reinsurance company, General Insurance Corporation of India or GIC Re, the company is making progress in its efforts to become the first Indian catastrophe bond sponsor. Artemis spoke to a representative of the company this morning who confirmed that the project, assessing the possibility read the full article →

India’s GIC Re still investigating catastrophe bonds

India’s national reinsurance company, General Insurance Corporation of India or GIC Re, is continuing to look at catastrophe bonds as a viable addition to its retrocessional reinsurance program, according to its chairman. As Artemis reported back in October, GIC Re would like to be the first Indian sponsor of a catastrophe read the full article →

India’s GIC Re approves use of catastrophe bonds for risk transfer

India's national reinsurance company, General Insurance Corporation of India or GIC Re for short, will look to catastrophe bonds as a potential source of risk capital and transfer as it seeks to provide cover for losses and access capital at cheaper rates, according to a report. GIC Re primarily operates in read the full article →

Opportunities for ILS and collateralized as reinsurance market grows in Asia

The reinsurance market in Asia has significant room for growth given the relatively low level of insurance penetration across the region, according to a report from Fitch Ratings. However risk awareness is increasing, demand for reinsurance from direct insurers in the region is growing and this will naturally lead to read the full article →

Weather insurance market in India growing by 25% annually

Helped by the growth of microinsurance and weather-index insurance, India's weather insurance market has been experiencing rapid growth in recent years. Now with more farmers starting to use weather insurance as a way to mitigate against the risks posed by extreme weather and climate change impacts two of India's biggest read the full article →

Skymet plans weather derivative indices for Indian exchanges

Skymet Weather Services, a provider of weather data and forecasts to various sectors in India, is planning to launch weather derivative indices on commodity exchanges such as India's MCX and NCDEX according to a report in the Business Standard newspaper. Skymet are preparing the modelling and structure of weather derivative read the full article →