Insurance linked securities news, ILS news

Catastrophe bond funds have faced pressure on positions in May thanks largely to increasing cat bond spreads, as the secondary market responded to primary issuance premiums, as well as high levels of liquidity that can impact values of positions.

Insurance giant American International Group, Inc. (AIG) has consolidated its assumed reinsurance business operations under a new combined entity named AIG Re and has hired Christopher Schaper to lead it, including the ILS fund operations of AlphaCat Managers.

Risk transfer is often overlooked in discussions relating to climate change and adaptation to it, as instruments including weather risk transfer and catastrophe reinsurance are able to send price signals to help public and private sector entities better understand the economic value at risk.

There has been an exponential increase in awareness and understanding of parametric insurance, reinsurance and risk transfer solutions in recent years, but still education is lacking among protection buyers which has led specialist New Paradigm Underwriters to launch its own conference on the subject.

Florida’s Citizens Property Insurance Corporation has revealed that its homeowners insurance premium rate need has almost halved after taking into account the recent enactment of legislation designed to reform the assignment of benefits (AOB) system.

The Scottish Re sponsored 2006 Ballantyne Re Ltd. Regulation XXX life insurance-linked securities (ILS) transaction has finally been fully wound up, as a restructuring has been completed and the remaining assets in the reinsurance trust account disbursed to investors.

ChainThat has been approved as the first company to join The Bermuda Monetary Authority’s (BMA) Innovation Hub and will house its Distributed Ledger Technology (DLT) driven risk and capital exchange there for the duration of its trial period.

Twelve Capital, the Zurich headquartered insurance and reinsurance linked investment fund manager, is targeting continued growth of its assets within its own-brand insurance-linked securities (ILS) and catastrophe bond funds.

We’re delighted to have partnered with the Institute of Insurance Economics at the University of St. Gallen, Switzerland to promote and publish a survey on the transfer of cyber risks using insurance-linked securities (ILS).

A Category 5 hurricane striking the Miami area of Florida, as 2017’s Irma looked set to do, would result in over $200 billion of insured residential property losses alone, according to Karen Clark & Company (KCC), suggesting the full toll to insurance and reinsurance interests would be much higher.