Catastrophe bonds broaden China’s risk diversification channels: China Re
The issuance of the first catastrophe bond through Hong Kong has helped to open up a new channel for risk diversification for the domestic catastrophe insurance market, according to the sponsor of the Greater Bay Re Ltd. (Series 2021-1), China Re Group. Last week we reported that China Re had successfully secured the issuance of a […]
First Hong Kong cat bond, Greater Bay Re gets China Re $30m of typhoon cover
The very first catastrophe bond to be issued out of Hong Kong has now been completed, with a $30 million Greater Bay Re Ltd. (Series 2021-1) cat bond coming to market on behalf of sponsoring reinsurer China Re. The transaction actually completed in September, but has only come to light this morning as it was relatively […]
Ledger Investing launches Nanorock casualty ILS fund
Ledger Investing has launched its first insurance-linked securities (ILS) fund, a casualty risk focused strategy backed by a single investor, and an ILS management unit, Ledger ILS Managers LLC. While the firm plans a $300 million co-mingled casualty ILS fund strategy as well. Using its own technology platform, a marketplace for connecting capital market investor […]
LADWP gets $30m of wildfire cover from new Power Protective Re cat bond
California based utility the Los Angeles Department of Water and Power (LADWP) has finally secured $30 million of wildfire insurance cover from its second catastrophe bond issue, after the Power Protective Re Ltd. (Series 2021-1) deal was priced at the raised coupon level. The eventual and successful pricing of this second Power Protective Re cat bond […]
BlackRock aims to raise $2.3bn+ for ESG fund that targets cat bonds
Giant asset manager BlackRock is aiming to raise more than $2.3 billion for its new environmental, social and governance (ESG) investment fund strategy that includes catastrophe bonds as one of its target asset types. As we were the first to cover back in August, the investment manager is marketing the soon to launch BlackRock ESG […]
UNDP launches Insurance & Risk Finance Facility, ILS support anticipated
The United Nations Development Programme (UNDP) has today launched the Insurance and Risk Finance Facility (IRFF), a new initiative that aims to build financial resilience and bridge a $1.4 trillion global health, mortality, and disaster protection gap, with support from the insurance-linked securities (ILS) market expected in future. Importantly, this Insurance and Risk Finance Facility […]
China regulator calls on insurers to sponsor cat bonds in Hong Kong
China’s insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks. The China Banking and Insurance Regulatory Commission (CBIRC) said in a notice that domestic Chinese insurers sponsoring catastrophe bonds out […]
Germany contributes $40.9M to risk transfer initiative
The United Nations Development Programme said Monday that the German government has contributed €35 million ($40.9 million) in funding for a new risk transfer initiative, the Insurance and Risk Finance Facility, within its Finance Sector Hub. The goal is to co-create insurance and risk finance solutions in over 50 developing countries by 2025 and contribute […]
China regulator calls on insurers to sponsor cat bonds in Hong Kong
China’s insurance regulator has called on insurers in the country to look to sponsor catastrophe bonds in Hong Kong as a way to access diversified sources of reinsurance capacity and offload peak natural catastrophe risks. The China Banking and Insurance Regulatory Commission (CBIRC) said in a notice that domestic Chinese insurers sponsoring catastrophe bonds out […]
Red Cross volcano cat bond issuance recognised for ESG credentials
The first parametric catastrophe bond covering pure volcanic eruption risk, which was brought to market by Replexus and Howden Capital Markets and for the Danish Red Cross has been recognised for its environmental, social and governance (ESG) credentials. The Guernsey International Insurance Association (GIIA) has awarded its first environmental, social and governance (ESG) accreditation to […]