reinsurance

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 […]

The CRESTA organisation, which tracks catastrophe events outside the US that have generated insurance industry losses of over USD 1 billion, has revealed that aggregate losses in H1 of 2024 are expected to be around the long-term average of US $8.5 billion.

Hurricane Beryl caused significant impacts to some of the Caribbean Windward Islands yesterday and after passing that island chain resumed its intensification, recently being upgraded to a Category 5 storm with 165 mph sustained winds, the strongest hurricane this early in the year on-record for the Atlantic basin. Latest updates.

Catastrophe bond and related insurance-linked securities (ILS) market activity levels accelerated in the second-quarter of 2024, with a record $8.4 billion of new risk capital issued that propelled the market to a record size of $48 billion, Artemis’ just-released new quarterly market report details.