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New Paradigm Underwriters hires Grunewald, formerly of Greenlight Re

New Paradigm Underwriters, LLC, the Florida-headquartered specialist managing general agency focused on parametric insurance, reinsurance and risk transfer products, has announced the hiring of former Greenlight Re Deputy Chief Underwriting Officer Matthew Grunewald.Grunewald has joined New Paradigm as Executive Vice President, Underwriting and Risk Capital, starting in the role from read the full article →

Philippines to try again on state asset & infrastructure reinsurance

The government of the Philippines is to try again to secure bids for an indemnity reinsurance program to cover around US $19.6 billion of its state-owned assets and infrastructure, having failed to secure the necessary market interest at the first attempt.As we reported in early December, the Philippines government entered read the full article →

Swiss Re assists with “pioneering” parametric cat bond for investor Bayview

Swiss Re Capital Markets, the insurance-linked securities (ILS) focused unit of the global reinsurance firm, has successfully helped to bring the first parametric catastrophe bond covering some of the earthquake risks in a portfolio of mortgage investments to market.Calling the recently completed Sierra Ltd. (Series 2019-1) catastrophe bond transaction "pioneering" read the full article →

Philippines fails to secure state asset & infrastructure reinsurance

The government of the Philippines has failed to secure the necessary bids for reinsurance support to cover roughly US $19.6 of state assets and infrastructure, according to a report.As we reported in early December, the Philippines government had entered into a 1 trillion pesos insurance cover with its own Government read the full article →

Sierra parametric quake cat bond successfully upsized 50% to $225m

The innovative Sierra Ltd. (Series 2019-1) catastrophe bond transaction, that is designed to provide parametric U.S. earthquake protection to an investment manager’s portfolio of mortgage related securities, has successfully upsized by 50% to reach $225 million for the sponsor.The Sierra Ltd. catastrophe bond was launched in November represents a first read the full article →

Sierra parametric quake cat bond may grow 50% to $225m for mortgage investor

The innovative Sierra Ltd. (Series 2019-1) catastrophe bond deal, that seeks parametric U.S. earthquake protection for an investment manager's portfolio of mortgage related assets, has a new upsized target, now aiming to secure up to 50% more, or $225 million, of coverage for the sponsor.The Sierra Ltd. catastrophe bond was read the full article →

QOMPLX & Chaucer launch multi-peril parametric insurance for SME’s

The use-cases for parametric triggers in insurance and reinsurance continue to expand, as parametric coverage gains in popularity and technology and data advances make more complex products possible, as evidenced by a recent launch from QOMPLX and Chaucer.QOMPLX is a provider of intelligent decision platforms and also operates a managing read the full article →

Philippines seeks reinsurance to cover $19.6bn of state assets & infrastructure

The government of the Philippines continues to expand its natural catastrophe related insurance and risk transfer provisions, with the latest step being a roughly US $19.6 billion cover for certain state assets, for which it is now seeking private market reinsurance protection.The Philippines government has entered into the 1 trillion read the full article →

Zimbabwe to get ARC parametric drought & replica cover via WFP

The government of Zimbabwe has approved the purchase of a parametric drought insurance policy from the African Risk Capacity (ARC) and will also benefit from a replica cover purchased by the World Food Programme (WFP).In becoming a policyholder of an ARC parametric insurance cover, Zimbabwe will better insulate itself against read the full article →

Sierra cat bond targets parametric quake cover for mortgage asset manager

A particularly interesting and novel catastrophe bond transaction has been launched to the market, with the Sierra Ltd. (Series 2019-1) deal seeking $150 million of parametric U.S. earthquake protection for an investment manager that largely invests in mortgage related assets.It's an interesting transaction for a number of reasons, given the read the full article →