For the first time, a cyber-catastrophe bond has made its way into public debt markets. Long Walk Reinsurance Ltd. issued a $75 million so-called cat bond, sponsored by AXIS Capital, to insure against “a cyber-catastrophe event” across its main underwriting …
The poorest and most vulnerable countries do not benefit enough from pre-arranged financing to cope with disasters and are most exposed to the losses and damage caused by climate change, the London-based Centre for Disaster Protection said on Thursday. Pre-arranged …
Cyber catastrophe bonds may be about to move out of the shadows of private deal-making and into the public debt markets. So-called cat bonds, which farm out hard-to-insure risks to capital market investors in exchange for double-digit returns, have typically …
The market for catastrophe bonds is one of this year’s best-performing debt classes. It’s also about to see a significant increase in sales as the World Bank, a major issuer, prepares to ratchet up its offering. The lender plans to …
As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds. Investors in the $40 billion market for so-called cat …
Executive summary: Fitch Ratings is projecting reinsurer returns on equity of 14% in 2023 and 2024, results that reflect a reinsurance environment that has effectively returned to the pre-soft market state of providing capital protection rather than earnings protection for …
Catastrophe bond funds rank among the 10 best performing credit funds this year, as the hurricanes, earthquakes and other disasters that could trigger payouts have either not happened or not been sufficiently severe. The catastrophe, or cat bonds, represent money …
Europeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as the continent suffers a summer of devastating heat, wildfires and drought. In recent months, …
The Philippines, recovering from damage wrought by Typhoon Doksuri, is seeking a new insurance plan as protection against future calamities after its catastrophe bond lapsed. “We no longer have a cat bond,” National Treasurer Rosalia de Leon said in reply …
Jamaican Finance Minister Nigel Clarke said he is seeing “definite interest” from other Caribbean countries to join in issuing a regional catastrophe bond that would protect their budgets from hurricanes and spread investor risk across more countries. Clarke told Reuters …
