reinsurance

Jamaica has been battered by the passage of major hurricane Beryl just off its southern coast. But, for holders of the World Bank facilitated $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction, early analysis of the real-time storm track suggests that noteholders will not face any loss of principal.

Twelve Capital, the Swiss headquartered insurance-linked securities (ILS) and reinsurance investment manager, has successfully completed a new $15 million Dodeka 2024-1  private catastrophe bond, which is the manager’s twenty seventh issuance in the Dodeka series.

Overnight, the latest updates to the forecast path of major hurricane Beryl have kept Jamaica’s $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction on watch for its potential to be triggered. Cat bond market participants tell us it may be too late for any trading activity now, but at the same time we’re […]

Should major hurricane Beryl cause any catastrophe bond losses, it would be only a very minor hit to the entire cat bond market, with even a total loss to the Jamaica catastrophe bond would represent a hit to just 33bps of the outstanding market, investment manager Twelve Capital has said.

Catastrophe bond and insurance-linked securities (ILS) fund manager Plenum Investments has said it believes, based on the latest hurricane Beryl forecasts, that a partial payout of Jamaica’s $150 million IBRD CAR Jamaica 2024 catastrophe bond is “likely”, if there is no significant change up to its closest pass to the island.

There are only nine days to go until our catastrophe bond and insurance-linked securities (ILS) market conference in Singapore, ILS Asia 2024, which takes place on July 11th at the Suntec Convention Centre. Here are details of the now more than 80 organisations attending the conference. Get your ticket to attend here.

With major hurricane Beryl churning across the Caribbean towards Jamaica, the country’s Minister of Finance Dr. Nigel Clarke has highlighted the importance of robust disaster risk financing and responsive parametric risk transfer arrangements that are in-place, including its World Bank catastrophe bond.

Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, has continued to add more capital to its mutual insurance-linked securities (ILS) fund strategies in the last quarter of record, reaching over $4.4 billion in net assets across these registered funds by the end of April this year.

There was increased demand for retrocessional protection around the mid-year reinsurance renewals, as existing buyers sought to purchase more retro and some historical buyers returned to the market, according to Guy Carpenter.

The latest update from the National Hurricane Center on major hurricane Beryl has seen a notable shift in the forecast track that would take the storm closer to Jamaica with 120 mph or greater winds, a scenario that puts Jamaica’s World Bank catastrophe bond firmly on-watch and we’re told offers in the secondary market have […]