Nat cat gap expands 5.2% to $385bn, but protection more available: Swiss Re
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The global natural catastrophe protection gap widened again in 2023, rising 5.2% to US $385 billion in premium equivalent terms, but at the same time Swiss Re reports that there are signs of more protection being available, which…
Generali updates insurance-linked securities framework to “green, social & sustainable”
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Italian and global insurance giant Assicurazioni Generali S.p.A. has revised its framework for green catastrophe bonds to incorporate updates and expand its scope, now publishing a Green, Social and Sustainability Insurance-linked Securities Framework in its place. Generali was…
World Bank & EC call for scaled up European disaster risk transfer & cat bonds
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. In a string of research reports, the World Bank Group and European Commission call on governments across Europe to utilise more in the way of disaster risk transfer and insurance to reduce the pressure from weather and natural…
Banque Bonhôte launches ESG fund strategy incorporating catastrophe bonds
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Banque Bonhôte & Cie, a Swiss private bank, investment firm and wealth manager, has announced the launch of a new environmental, social and governance (ESG) focused fund strategy that will incorporate catastrophe bonds as one of its allocations.…
Tokio Marine is first Japanese cat bond sponsor to use sustainable development bond
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Tokio Marine Holdings, Inc., through its subsidiary Tokio Marine & Nichido Fire Insurance Co. Ltd., has become the first Japanese insurer to make use of a SOFR-based World Bank Sustainable Development Bond as a permitted investment within its…
Munich Re behind Hawaii coral reef parametric insurance renewal, coverage expands
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An innovative parametric insurance product that provides protection to fund repairs following storm damage to coral reefs in Hawaii has been renewed and its coverage expanded, while global reinsurance firm Munich Re is again backing the cover, which…
Parametric insurance to cover South Pacific coral reef in Fiji archipelago
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. An innovative parametric insurance program has been taken across the globe to cover a South pacific coral reef in the Fiji archipelago, with broker WTW saying it will provide up to US $450,000 of cover for reef restoration…
Bermuda’s BMA aims to better facilitate parametric climate-related re/insurance
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The Bermuda Monetary Authority (BMA) has laid out its plans for 2024, with Chief Executive Officer (CEO) Craig Swan highlighting specific opportunities in parametric risk transfer for climate insurance. The 2024 business plan of Bermuda’s financial regulator contains…
Aggregate reinsurance back on the table, lower layers see more support: Aon
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. A few signs emerged at the recent January 1st 2024 reinsurance renewals that bode well for protection buyers as we move through this year and into the next, as broker Aon highlighted that appetite is returning for some…
Beazley Smart Tracker capital raise “heavily oversubscribed” for 2024: Roscoe
This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. The capital raise for the 2024 underwriting year for London headquartered specialty insurance and reinsurance firm Beazley’s third-party capital backed Smart Tracker syndicate 5623 was “heavily oversubscribed” and the structure remains on-track to deliver a fourth consecutive year…
