Insurance
Industry must ‘step up’ to be really attractive for ESG investors: Rivaldi, Twelve Capital
If the global risk transfer industry ramps up its efforts around transparency, it would become a far more attractive space for the growing pool of environmental, social and governance (ESG) focused investors, says Marcus Rivaldi, Managing Director of Analytics at Twelve Capital. The universe of investors seeking responsible and sustainable investments is accelerating at a…
Read MoreUK Gov launches tax consultation to make ILS rules more competitive
The UK Government’s HM Revenue & Customs (HMRC) has launched a new consultation on the tax treatment of insurance-linked securities (ILS) in a bid to enhance the competitiveness of the UK ILS regulatory and tax regime. The UK introduced its insurance-linked securities (ILS) regime in 2017, the UK’s Risk Transformation Regulations, which govern ILS issuances…
Read MoreThe Hartford rejects Chubbs acquisition offer
The Board of insurer The Hartford has rejected the acquisition offer made recently by larger rival Chubb, saying that its Board concluded that the deal was not in the best interests of the company and its shareholders. Last week, global primary insurance carrier and reinsurance company Chubb has confirmed that it made a roughly $23.24…
Read MoreOasis gets industry backing for Loss Modelling Framework & open source standards
Oasis, the open source catastrophe risk modelling platform, has received significant backing from insurance and reinsurance sector leading firms for the continued development and expansion of its Oasis Oasis Loss Modelling Framework and open source standards. Among the backers are leading insurance and reinsurance brokers and underwriting companies: Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover…
Read MoreRed Cross cat bond demonstrates Guernsey’s ILS credentials: Aon
The recent completion of the world’s first pure volcanic risk catastrophe bond is a demonstration of Guernsey’s insurance-linked securities (ILS) credentials, Paul Sykes, Managing Director at Aon has said. The volcano catastrophe bond, which was issued on behalf of sponsoring organisation the Danish Red Cross, was domiciled in Guernsey and drew on various areas of…
Read MoreCorant hires Stratton from RFIB to lead Bermuda reinsurance broking
Corant Global, the rebranded BGC Insurance arm, has announced the establishment of a Bermuda reinsurance broking operation, with Kevin Stratton hired from RFIB to lead the unit. Stratton brings over 30 years of speciality insurance and reinsurance expertise to Corant. At RFIB he held the role of managing director and led all specialty non-marine classes…
Read MoreICA highlights billion dollar loss potential of Australian floods
The Insurance Council of Australia (ICA) has highlighted the billion dollar insurance and reinsurance market loss potential of the ongoing severe flooding event and storms in the Queensland, New South Wales (NSW) region of Australia. The flood waters continue to rise after more than 1 metre of rainfall has fallen in some areas, flooding hundreds…
Read MoreTokio Marine’s new Kizuna Re cat bond pricing drops 16%
Tokio Marine & Nichido Fire Insurance Co’s fifth Kizuna Re catastrophe bond will be the latest to experience a significant drop in price during its marketing to investors, with the $150 million Kizuna Re III Pte. Ltd. (Series 2021-1) transactions pricing now fixed some 16% below the initial mid-point of guidance. So far in 2021,…
Read MoreSompo doubles target for Sakura Re 2021 cat bond to $400m
Japanese insurance and reinsurance giant Sompo has doubled its target for its latest catastrophe bond with its Sakura Re Ltd. (Series 2021-1) transaction now aiming to secure the company $400 million of Japanese and US multi-peril catastrophe reinsurance protection. Sompo returned to the catastrophe bond market for the first time in four years recently, with…
Read More