Barbados has issued the world’s first government bond with a clause allowing payments to be suspended in the event of another global pandemic, a move expected to attract interest from dozens of other countries savaged by the COVID-19 crisis. The …
Inigo Ltd., the new Lloyd’s insurer, has entered the catastrophe bond market for the first time, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re, launched on April 1, is a …
MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s global specialty re/insurer, announced its Singapore-based operation has launched its second local special purpose reinsurance vehicle (SPRV). Called Phoenix 2 Re Pte. Ltd., this SPRV will provide a quota share to MS …
Investors in insurance-linked securities are leaning toward structured catastrophe bonds rather than broader ILS instruments to steer away from unexpected losses from secondary perils. At the same time, catastrophe bond investors are accepting lower yields than they did two years …
Catastrophe bonds broke a record during the first half of the year with about $8.5 billion of new securities issued, according to a report from Swiss Re AG. The insurance-linked securities market could end up with more than $10 billion …
Catastrophe bonds are being hailed as the next frontier for socially responsible investing. Such debt, which insures against natural disasters such as hurricanes, earthquakes and pandemics, is gaining traction with investors looking to brandish their ethical credentials. Proponents say the …
Approximately $11 billion of property catastrophe bond limit was placed in 2020, the highest on record, according to a new Aon report that projects the growth momentum will continue in 2021. While the year was a record for cat bond …
Usage of insurance linked securities the first six months of 2020 is already 20% higher than all of 2019, underscoring the sector’s momentum and resilience even with the coronavirus pandemic, Aon Securities said in a new report. Aon traced a …
Almost exactly four years ago the World Bank announced a pioneering project, the Pandemic Emergency Financing Facility, designed to develop a new insurance market and protect the world’s poorest countries against deadly disease. The PEF, as it’s known, was supposed …
The World Health Organization says the coronavirus isn’t yet a global pandemic. Bonds that insure against just such a catastrophe say that it probably is. The bonds, sold in 2017 by the World Bank to raise money for poor countries …
