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Reinsurance can mitigate negative effects of climate change: Swiss Re CEO

Reinsurance and its ability to transfer risk into a diversified pool of capital can play a vital role in helping the world to mitigate the negative effects of a changing climate and smooth volatility for carbon-free ventures, the CEO of Swiss Re has explained.Writing for the World Economic Forum (WEF) read the full article →

World Economic Forum eyes risk sharing with catastrophe bonds: Davos 2020

A World Economic Forum (WEF) initiative focused on responses to humanitarian risk is investigating areas where catastrophe bonds may prove valuable tools for risk sharing with private markets and investors, according to a United Nations representative.The World Economic Forum (WEF) is an international organisation focused on public-private cooperation. Its annual read the full article →

Insurance & ILS are shock absorbers for climate, but need adjusting to the risk: McKinsey

Insurance products, reinsurance and insurance-linked securities (ILS) are all examples of financial shock absorbers for climate change risks, but while it can encourage behavioural change through the sending of price signals, a new report from McKinsey highlights the reality that the sector business models may need to change.Leaders in business, read the full article →

Climate & environmental issues are top global risks for 2020: Marsh & Zurich

For the first time in the history of the annual World Economic Forum's Global Risks Report all of the top five global risks in terms of likelihood are related to climate change and environmental issues.The report highlights the growing global awareness of the threat that climate related risks pose to read the full article →

Institutional investors backing ILS call for climate action

The world's largest institutional investors are increasingly vocal about the need to accelerate efforts to tackle the climate crisis, with many of the same group also contributing a significant proportion of the insurance-linked securities (ILS) market's capital base.Last week, 631 institutional investors which between them are responsible for managing more read the full article →

Goldman Sachs reiterates cat bond & ILS role in environmental policy

Investment banking giant Goldman Sachs published an updated environmental policy yesterday, with catastrophe bonds, insurance-linked securities (ILS) and other climate related risk and reinsurance products again taking a central stage within it.Goldman Sachs recognises the importance of climate adaptation and the opportunity for its business in this area, with its read the full article →

Climate threat needs capital response, but industry has to give it confidence

The economic consequences of climate change may prove particularly severe for insurance and reinsurance companies in the property and casualty (P&C) space, presenting both a threat and an opportunity, but the latter may require access to capital to take full advantage of it.Recently, rating agency Moody's reiterated its stable outlook read the full article →

Climate change adaptation financing can benefit from partnership with ILS

Climate change adaptation projects and the need for them are rising up the agenda, as a recent surge in damages from severe weather and climate related catastrophe events concentrates the mind on the importance of investing in this area.Public authorities are showing renewed and increasing interest in climate adaptation, while read the full article →

Nature Conservancy targets Florida & Hawaii for parametric reef insurance

Having already developed the first parametric insurance policy to insure and enhance the resilience of a coral reef section of the Mesoamerican Reef in Mexico, The Nature Conservancy (TNC) is now looking to expand the product's reach into Florida and Hawaii.The Nature Conservancy (TNC) had partnered with global reinsurance giant read the full article →

Parametric ILS “vital” to reduce protection gaps, increase resilience: Mark Carney, Bank of England

Mark Carney, the Governor of the Bank of England, discussed the role of insurance and reinsurance technology as an essential financial took to smooth the world's transition to a 1.5 degree world and highlighted the role of insurance-linked securities (ILS) within that.Speaking on Sunday in New York, on the sidelines read the full article →