Collateralized fronting a very important element for us: Steinmann, Hannover Re
For global reinsurance firm Hannover Re, the business of collateralized fronting, where the company fronts reinsurance cedents for ILS investors and funds, is seen as a very important element of its business and an area of growth, executive Thorsten Steinmann said this week. Speaking during a briefing held at the Baden Baden reinsurance meeting in […]
ILS: simple, powerful, and accessible for all
“Insurance-linked securities (ILS) offer a good alternative or complement to reinsurance, and nothing complicated,” said Kirill Savrassov, convenor of the ILS Education Programme, lamenting how ILS has often been viewed as a niche product reserved for sophisticated markets or large financial institutions. “For developing countries ILS instruments such as sovereign parametric catastrophe bonds, are often […]
Why educating the industry about ILS is so important
Insurance-linked securities (ILS) have become a vital part of the reinsurance industry, providing alternative capital for risk transfer, allowing investors to access insurance risks through financial markets, spread catastrophe risks and enhance market capacity. The key benefits of ILS are clear: greater diversification for investors, reduced reliance on traditional reinsurance and increased capacity to absorb […]
Hong Kong hopes to kick-start local ILS investment with tax exemption
Recognising that demand for asset and wealth management services are set to increase and that certain alternative asset classes are currently less attractive due to their taxation, the government of Hong Kong aims to boost its investment sector with a broadening of profit tax exemptions, with insurance-linked securities (ILS) one asset class in focus. Hong […]
Hannover Re’s E+S Rück forecasts nat cat reinsurance demand, improved prices and terms
Commenting on its expectations for the end of year reinsurance renewals in Germany, Hannover Re’s German subsidiary E+S Rückversicherung AG has said that it expects demand for property catastrophe reinsurance to rise further, while risk adjusted price and term improvements are also expected. The expectations comes after continued losses from severe weather and natural catastrophe […]
Alternative capital a material and critical reinsurance partner through crises: Rapin, Nephila
In comments made around Guy Carpenter’s Baden-Baden Reinsurance Symposium event, Maria Rapin, the CEO of Nephila Climate, the climate and weather focused arm of insurance-linked securities (ILS) specialist Nephila Capital, highlighted that alternative capital is a long-term partner for reinsurance that has been well-tested through catastrophes and crises. This year’s theme of the reinsurance broker’s […]
Parametric insurance can help close US $1.8tn protection gap: Generali and UNDP
A joint report published by insurance giant Generali and the United Nations Development Programme (UNDP) highlights parametric risk transfer and insurance as a key solution that can help to close the US $1.8 trillion protection gap. “Parametric insurance is speeding up recovery from climate-related hazards and other shock events, especially for communities in vulnerable contexts,” […]
Beazley adds $290m cyber ILW to its $510m cyber cat bonds, in $1bn cyber cat coverage
While it has been growing its cyber underwriting business, specialist insurer Beazley has also implemented a robust hedging strategy to control the tail, recently securing a $290 million cyber industry loss warranty (ILW) cover and securing its third PoleStar Re cyber catastrophe bond. As Artemis reported a few weeks ago, Beazley secured $210 million in cyber […]
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, alternative reinsurance capital and […]
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 at Zurich-headquartered insurance-linked securities […]