Florida State Board considers specialty, casualty, cyber ILS opportunities
Having previously said it was researching how to expand its insurance-linked securities (ILS) allocations beyond natural catastrophe risk, at a recent meeting executives of the Florida State Board of Administration explained that specialty lines, as well as casualty and cyber risks could be in scope for the large ILS allocator. The Florida State Board of […]
New capital, coupons, cash from maturities. All drive strong cat bond execution in 2025
The catastrophe bond market has seen very attractive execution on behalf of sponsors so far this year, with a number of factors driving this that have all resulted in abundant capital being available to settle new cat bond issuances, typically at larger sizes and lower pricing. As we’ve explained, new catastrophe bond issuance in 2025 […]
CEA catastrophe bonds now 31% share of tower, as risk transfer declines to $7.85bn
The California Earthquake Authority (CEA) shrank its risk transfer tower through the January renewals, as its traditional reinsurance placements saw further contracts expire, resulting in its catastrophe bonds making up a larger share of the overall at now more than 31%. When we last reported on the CEA’s risk transfer tower, made up of reinsurance […]
Hong Kong ILS Grant Scheme to be extended again, this time by three years
The government of Hong Kong is budgeting for a further three year extension to its Pilot ILS Grant Scheme, as the Special Administrative Region continues to target bringing catastrophe bond and insurance-linked securities (ILS) issuance to its financial market. Hong Kong aims to continue developing its still nascent insurance‑linked securities (ILS) market, with attracting issuers […]
Evolving cat models & shifts in climate driving attraction towards ILS: Twelve Securis
According to Twelve Securis, the specialist insurance-linked securities (ILS) manager, the combination of advancements being seen in catastrophe modeling, along with shifting climate patterns, and the ability to generate uncorrelated returns, is making ILS an increasingly attractive investment amid a rapidly changing risk landscape. Twelve Securis was formed in February following the completion of the […]
Tropical cyclone risk could be increasing in the Northwest Pacific: Chaucer
According to global specialty insurance and reinsurance group Chaucer, evidence from observational data and climate models shows that tropical cyclones, known as typhoons in the Pacific, are showing signs of being influenced by climate change, with a notable trend of their peak intensity shifting northward in the Northwest Pacific. In a new report, Chaucer explains […]
EU public-private reinsurance scheme would play ‘active role’ in narrowing protection gap: Morningstar
Mario De Cicco, Vice President of Global Insurance & Pension Ratings, and Marcos Alvarez, Managing Director of Global Financial Institution Ratings at Morningstar, a provider of independent investment research and financial data, explore the growing insurance protection gap in Europe caused by climate-driven natural catastrophes. Drawing on insights from the European Insurance and Occupational Pensions Authority […]
TWIA sets PML at $6.227bn for 2025, to require $4.227bn of reinsurance & cat bonds
The Board of the Texas Windstorm Insurance Association (TWIA) met today and one item up for discussion was the setting of the 1-in-100 year probable maximum loss (PML), a critical figure for defining its funding needs for the hurricane season and therefore its purchases of reinsurance and catastrophe bonds for 2025. With reinsurance costs having […]
Twelve Securis merger completes, creating one of the largest ILS managers with $8.5bn
Twelve Securis has been established with $8.5 billion of assets under management (AUM) making the newly branded and combined ILS manager one of the largest in the sector, after the merger of Twelve Capital and Securis Investment Partners has now completed. Twelve Capital and Securis Investment Partners had originally announced their intention to merge in July […]
Rail bridge links nations along the Silk Road
China-Europe freight rail services experienced significant growth last year. In 2024, trains made 19,000 trips, representing a 10 percent increase compared to the previous year, and transported over 2 million TEUs (twenty-foot equivalent units) of cargo, a 9 percent rise year-on-year. Launched in 2011 as a flagship program of China’s Belt and Road Initiative, this […]