SEADRIF makes $750k parametric payout to Laos for Typhoon Yagi driven flooding
The SEADRIF Insurance Company has made a parametric payout of $750,000 to Lao PDR to support the country's recovery efforts following the passage of Typhoon Yagi, which caused severe flooding. Typhoon Yagi has reportedly affected eight provinces in Lao PDR, including Vientiane Capital, Phongsaly, Luangnamtha, Oudomxay, Bokeo, Luangprabang, Xiengkhuang, and Xayabouri. According read the full article →
Reinsurance and ILS a compelling income opportunity: US Bank
Wealth managers at US Bank, the fifth-largest commercial bank in the United States, have highlighted reinsurance and insurance-linked securities (ILS) as diversifying drivers of income for their clients. Within US Bank's wealth, commercial and corporate business segments, it offers investment advice and management for clients, ranging from retail, through high-net worth, read the full article →
Cat bond market offers attractive entry point for investors: Neuberger Berman’s Burdick
After posting record levels of issuance so far in 2024, the catastrophe bond market appears poised to offer an attractive entry point for investors, according to Jack Burdick, an Associate at investment manager Neuberger Berman. A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the read the full article →
Aon unveils new catastrophe model to manage Severe Convective Storms in the U.S.
Insurance and reinsurance broking group Aon has launched a new catastrophe model to analyse the impact of Severe Convective Storms (SCS) in the United States, allowing re/insurers to make better decisions on portfolio management for this expanding and increasingly costly peril. According to Aon’s 2024 Climate and Catastrophe Insight report, U.S. read the full article →
Ledger completes $100m casualty sidecar amid growing demand for solutions
Ledger Investing, the insurtech and casualty insurance-linked securities (ILS) company, has funded and launched a new $100 million casualty sidecar for a global reinsurer, financing the company's casualty reinsurance business over three underwriting years on a quota share basis. Just last month, it was revealed that Ledger Investing had entered into read the full article →
China’s State Council sees cat bonds as measure to strengthen insurance system
China is aiming to strengthen its insurance system, with a particular focus on the impacts of weather and natural disasters and its State Council, a key ruling body, has cited catastrophe bonds again, as one measure that can assist. Over the years, China's State Council has repeatedly cited innovative risk transfer, read the full article →
Mexico parametric cat bond safe from hurricane John’s 120mph landfall
While the focus for many is on what is still potential tropical cyclone nine and soon to become storm Helene on the Atlantic side, off the Pacific coast of Mexico hurricane John rapidly intensified and made landfall as a Category 3 storm which has resulted in enquiries from catastrophe bond read the full article →
Helene may strike Florida as hurricane this week. Wide-range of model intensity forecasts
According to the latest forecasts we should see the eighth named tropical storm of the Atlantic season in the next day and most models are calling for a hurricane Helene landfall into the Gulf Coast, somewhere from Tampa, Florida to Louisiana by Friday, but with a wide spread of intensity read the full article →
Tower buys more reinsurance protection for FY25 at higher attachment point
Auckland, New Zealand-headquartered insurer Tower Insurance made some adjustments to its reinsurance programme at its renewal, opting to increase the size of the upper catastrophe limit and raise the attachment point for the first two events, resulting in a lower reinsurance spend for the firm. Tower's FY25 reinsurance programme provides the read the full article →
Private ILS interest rising, enhances scope of investment options: Grandi, Twelve Capital
Interest in private ILS opportunities, so collateralised reinsurance and retrocession arrangements, has been rising and continues to, Marcel Grandi of Twelve Capital believes. He also thinks these instruments afford an investment manager more scope, in terms of investment options beyond catastrophe bonds and tailoring portfolios. Marcel Grandi, Head of ILS Sourcing read the full article →
