Alternative Capital
The emergence of a $30bn global marketplace for insurance-linked securities has served as evidence of the increasingly prominent role third-party capital now plays in risk transfer. Over the medium to long-term this sector is expected to continue its growth as investors take advantage of the low correlation insurance has with other asset classes. This section brings together Insurance Day’s coverage of alternative capital and the way it is helping reshape global insurance markets.
Securis and Twelve Capital announce merger
Merger of ILS managers will create firm with assets under management of $7.8bn
World Bank looks to expand into drought catastrophe bonds
New instruments will primarily focus on Africa, where some areas are experiencing their worst drought in years
Everest expands third-party capital business
Bermuda-based group transforms Mt Logan unit into multi-vehicle capital management platform
SageSure closes eighth Gateway Re catastrophe bond
The transaction marks a 20% upsize from the $50m offering targeted by the US managing general underwriter
Schroders and Hannover Re put reinsurance contracts on blockchain
The technology could eventually support investments in the ILS market, Schroders said
Climate change to drive expansion of governmental catastrophe bond market
Catastrophe bonds issued by sovereigns and other state-backed bodies now make up a quarter of outstanding bond issuances and the impact of climate change could increase the use of such securities in both developed and developing countries, experts say
Hong Kong challenges Singapore for Asia-Pacific ILS market
While the Chinese territory lags behind Singapore for insurance-linked securities issuances, Hong Kong may be able to draw on geographic advantages and a deep financial sector to catch up, experts say
Hong Kong insurance regulator supports developing local ILS market
World Bank launches $150m catastrophe bond for Jamaica storm perils on Hong Kong exchange
Hannover Re sponsors first cat bond to cover cloud outages
Reinsurer secures $13.75m of retro coverage through Cumulus Re issuance
American European completes inaugural catastrophe bond
Transaction provides three years of collateralised protection against named storms for coastal homeowners’ business written by MGU ShoreOne on American European’s behalf
Slide secures $210m in storm protection with Purple Re cat bond
Florida-based property insurtech sponsors its largest catastrophe bond to date
SageSure closes upsized Gateway Re catastrophe bond
Transaction provides $250m of collateralised protection against losses from named storms
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