Singapore to reduce investment reporting & disclosure rules for ILS issuers

In aiming to make its insurance-linked securities (ILS) regulatory environment as appealing as possible, the government of Singapore is listening to market participants and enhancing rules surrounding ILS and catastrophe bond issuance structures, to reduce friction for sponsors and other parties involved in transactions. Ever since the start of Singapore's journey read the full article →

It’s on the market to develop refined parametric structures: Panellists

It’s up to insurance, reinsurance and ILS market participants to improve the acceptability of parametric insurance structures across the Asia Pacific region, say industry experts at ILS Asia 2020. Although leveraged more widely in the Indian agricultural sector and the Japanese catastrophe arena, parametric insurance remains a relatively new concept across read the full article →

Evolution of Singapore’s ILS infrastructure to attract new sponsors

As Singapore evolves as an insurance-linked securities (ILS) domicile and enables regulatory, legal and tax changes, the ability of the region to facilitate ILS in all forms will attract a growing number of new sponsors, according to industry experts. Singapore has ambitions to become a leading hub for ILS business in read the full article →

IAG’s Orchard catastrophe bond “fully exhausted” by bushfires

Australian primary insurance group IAG has revealed that its Orchard ILS Pte Ltd catastrophe bond was triggered and then fully exhausted by claims suffered from the severe bushfire season in the country. The Orchard ILS catastrophe bond was the first to be sponsored Insurance Australia Group (IAG) back in February 2019 read the full article →

ILS has shown “remarkable” resilience: Monetary Authority of Singapore

Even in the face of Covid-19, the resilience of the insurance-linked securities (ILS) market has been impressive, but moving forward, the entire risk transfer industry needs to be more attentive to emerging complex risks, says Benny Chey, Assistant Managing Director (Development and International), Monetary Authority of Singapore (MAS). In his opening read the full article →

Asian risk managers are warming up to parametrics: ILS Asia 2020

There’s still a very real need for greater education and awareness, but risk managers across Asia are becoming increasingly comfortable with the idea of parametric structures, according to industry experts. Parametric insurance continues to expand and is increasingly providing some of the world’s most vulnerable people with vital protection against a read the full article →

Asia, a key part of the ILS market & interest is growing: ILS Asia 2020

The Asia Pacific region has become a key component of the global insurance-linked securities (ILS) marketplace and interest from cedants and issuers continues to surge, according to industry experts. Speaking yesterday during the opening day of the virtually held Artemis ILS Asia 2020 conference, ILS market executives and experts explored the read the full article →

Singapore’s ILS grant scheme extended to end of 2022: MAS

The Monetary Authority of Singapore (MAS) has extended its insurance-linked securities (ILS) grant scheme to the end of 2022, as Singapore looks to build on recent positive momentum and attract more catastrophe bond issuers to its shores. Speaking today at our Artemis ILS Asia virtual conference, Mr. Benny Chey, Assistant Manager read the full article →

Time was right to complement IAG’s reinsurance with a cat bond: Hartry

The expansion of the catastrophe bond market in recent times encouraged Insurance Australia Group (IAG) to sponsor its first transaction, which, according to the firm’s Executive Manager of Reinsurance Operations, Nick Hartry, complements its existing reinsurance arrangements. With a first time sponsor in IAG and the first deal to be issued read the full article →

First Singapore cat bond completed in just a few weeks: Goh, Rajah & Tann

The successful issuance of the AUD $75 million Orchard ILS Pte Ltd catastrophe bond, the first for sponsoring insurer Insurance Australia Group (IAG) and the first cat bond to be issued in Singapore, took only a few weeks, according to a lawyer who worked on the transaction. The issuance of the read the full article →