Investments
Arbitration rules in favour of Securis over ICAT clawback complaint
A dispute levelled against specialist insurance-linked securities (ILS) asset manager Securis over a clawback complaint made by Paraline’s ICAT Syndicate 4242 has been ruled in favour of the ILS fund manager, as clawback never existed in the contract. Securis Investment Partners had backed a collateralised reinsurance agreement with Paraline operated ICAT Syndicate 4242 at Lloyd’s,…
Read MoreAfrican Risk Capacity (ARC) to add parametric coronavirus insurance
The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, is planning to add coronavirus protection to its planned outbreaks and epidemics parametric insurance product, which it aims to have available from 2021. The work to develop a protection product based on a parametric index to support outbreak and epidemic insurance…
Read More3 Ways to Save Money on Auto Insurance Today
This pandemic has significantly changed our lives and the routines we have been accustomed to. The changes have been drastic and sudden. One of the major changes is that people are driving less than they were a few months ago. No more daily commutes, no more traffic jams, less fuel (and more savings)…you get the…
Read MoreThe “other perils” conundrum for reinsurance & ILS on coronavirus
With the traditional reinsurance industry and insurance-linked securities (ILS) market working hard to identify any routes through which unexpected claims from the Covid-19 coronavirus pandemic could leak, it’s perhaps worth looking at one obvious area of uncertainty, the growing in prevalence “other perils” category and similarly worded contract terms. For us, with our coverage focused…
Read More$20m Eclipse Re Ltd. private cat bond issued around April renewal
The Horseshoe managed private catastrophe bond and insurance-linked securities (ILS) issuance and risk transformation vehicle Eclipse Re Ltd. has completed a second issuance of 2020, a $20 million Eclipse Re Ltd. (Series 2020-02A) transaction that came to market around the April reinsurance renewal. Horseshoe’s Eclipse Re was one of the most prolific private cat bond…
Read MoreHigher return potential, evident low-correlation, to drive resurgent ILS investor interest
The fact reinsurance prices have risen again at the January and April renewals, especially in peak catastrophe exposed zones, along with the recently demonstrated low-correlation to coronavirus financial market declines, suggests that the improved return potential of the ILS asset class will drive resurgent investor interest. We’ve been saying this for a while now, that…
Read MoreLife ILS outlook positive despite Covid-19, says Securis’ Luca Tres
The ongoing Covid-19 pandemic is expected to have a limited impact on the life insurance-linked securities (ILS) sector, and despite the outlook for life insurance markets being downgraded, the future looks positive for life ILS. This is according to Luca Tres, Partner at Securis Investment Partners, who in a recent interview with Artemis, discussed the…
Read MoreMortgage ILS sponsors on negative watch due to coronavirus credit risk: S&P
The main insurers that sponsor mortgage insurance-linked securities (ILS), or mortgage insurance-linked notes (ILN), as a way to secure reinsurance from the capital markets to protect their mortgage insurance books, have all had their ratings placed on a negative watch by S&P. S&P Global Ratings said that is has revised its outlook to negative from…
Read MoreWorld Bank CAT DDO’s triggered by coronavirus, disburse almost $900m
A number of countries have benefited from disbursements under World Bank provided catastrophe contingent lines of credit after the Covid-19 coronavirus pandemic triggered their Catastrophe-Deferred Drawdown Options (CAT-DDO’s). The Catastrophe-Deferred Drawdown Option (CAT-DDO) is a financing instrument that acts a little like a parametric catastrophe bond, in that they provide a source of capital contingent…
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