World Bank & its members see real benefits of ILS: Bennett, ILS NYC 2021

The World Bank sees the insurance-linked securities (ILS) sector providing significant benefits for member country governments, but elements of the catastrophe bond structure could be adapted to make it an even more attractive tool for sovereign disaster risk financing. This is according to Michael Bennett, Head of Derivatives & Structured Finance, World Bank Treasury, who…

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CEA looks for $150m+ of quake reinsurance with Ursa Re II 2021 cat bond

The California Earthquake Authority (CEA) is back in the catastrophe bond market with its first transaction of 2021, seeking at least $150 million of fully collateralized earthquake reinsurance protection through this Ursa Re II Ltd. (Series 2021-1)  issuance. The California Earthquake Authority (CEA) is one of the larger sponsors of catastrophe bonds, collateralised reinsurance and…

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Non-CAT ILS is “well and truly out of the bottle” – MultiStrat

As pressure on reinsurance rates intensifies, alternative capital seeks yield, and appetite broadens beyond the catastrophe space, the adoption of casualty insurance-linked securities (ILS) is poised to accelerate, according to MultiStrat, the specialist underwriter, and reinsurance investment facilitator. The combined effects of rate increases and capacity constraints drive innovation in the ILS market and expand…

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Taking a Closer Look at the Changes in the Economy Due to the Pandemic

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The impact of the coronavirus pandemic on the economy has been widespread. What does this mean for the future? What should people know? Without a doubt, the coronavirus pandemic has created a medical and economic crisis. This is a virus that has infected and killed millions of people all over the world. The pandemic has […]

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RenRe lifts third-party AuM to $6.4bn, as Upsilon surges to new high

RenaissanceRe, the Bermuda headquartered global reinsurance company, has lifted its third-party capital assets under management to a new high of $6.4 billion as of January 1st 2021. The increase in third-party capital under management in RenaissanceRe’s range of insurance-linked securities (ILS) and joint-venture structures was largely due to additional capital being raised for its Upsilon…

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An extra day of ILS NYC 2021 with two more broadcasts

Thanks to popular demand and a number of stars aligning, we are delighted to bring you two additional broadcasts from our virtual ILS NYC 2021 conference today. We’ve already broadcast twelve videos from this year’s ILS NYC event, all of which are now available for our readers to view on-demand. But today you get two…

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Euro windstorm Ciara / Sabine industry loss dropped 3% to EUR 1.571bn

The insurance and reinsurance industry loss from February 2020’s European windstorm Ciara, also known as Sabine and Elsa, is now estimated to be a little lower, at around EUR 1.571 billion, a decrease of roughly 3% on PERILS last report on the storm. Demonstrating the challenges in estimating insurance and reinsurance market-wide catastrophe losses, back…

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