First Solvency II compliant catastrophe bond SPRV established in Ireland

The completion of French reinsurer SCOR's latest catastrophe bond deal, Atlas Reinsurance VII Limited, last week was it turns out a first for the market, according to financial law firm Walkers Ireland. Walkers Ireland acted as Irish legal and tax counsel, as well as listing agent for the transaction and read the full article →

Horseshoe expands to offer insurance-linked security SPV services in Ireland

Horseshoe Group, an independent insurance manager and advisor with a focus on the insurance-linked securities (ILS) and catastrophe bond market is expanding its operations to Ireland which will give them a platform to expand their ILS and cat bond administration services into Europe more easily. The new entity, Horseshoe Management (Ireland) read the full article →

Impact of FATCA regulations on catastrophe bond issuers unclear

A piece of U.S. regulation has been highlighted as potentially having an impact on catastrophe bond and insurance-linked security issuing entities. The insight published in this memo from law firm Cadwalader, Wickersham & Taft LLP discusses the FATCA provisions (FATCA stands for the Foreign Account Tax Compliance Act of 2009), read the full article →

Insurance-linked securities: Insurance companies or issuers of asset-backed securities?

The U.S. Securities and Exchange Commission (SEC) has voted to propose new rules and amendments to the way ratings agencies conduct their business. The proposed rules, which the members of the SEC voted to put out for comments for sixty days to get feedback from interested parties, are intended to read the full article →

Could catastrophe bond SPV’s domicile in the UK?

We often get asked at Artemis why catastrophe bond and insurance-linked security Special Purpose Vehicles (or special purpose insurers) are generally domiciled offshore. The Cayman Islands and Bermuda are the two domiciles of choice for the cat bond market, with the Cayman Islands currently leading the way, Dublin in Ireland read the full article →

British Virgin Islands could look to domicile insurance-linked securities

The British Virgin Islands (BVI) could look to become a domicile for insurance-linked securities and catastrophe bonds as a way for it to diversify away from relying on more traditional captive business, according to an article by James McConvill of Appleby Global (a provider of offshore legal and administrative services). The read the full article →

Guernsey seeks to become a catastrophe bond SPV domicile

There's an interesting article (may require login) on the FT.com website which discusses Guernsey and its ambitions to continue to be the leading captive domicile in Europe but to also broaden its scope to take more advantage of reinsurance and its convergence with the capital markets through alternative risk transfer. Guernsey read the full article →

CEIOPS delivers final advice on Solvency II Level 2 implementing measures

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has delivered its final advice documentation on the Solvency II Level 2 Implementing Measures. There's a lot of documentation to read, some of which will be very relevant to our markets so it's worth catching up on. The full list of read the full article →