American International Group (AIG) said it launched a new Parametric Cloud Outage Solution, providing clients an additional layer of cyber insurance protection to help them recover faster from...
St. Petersburg-based Mangrove Property Insurance, launched two years ago, has created its own reinsurance sidecar, the company announced. Grove Re Ltd., domiciled in Bermuda, will be a Class 3A...
Talcott Financial Group and Goldman Sachs have launched a Bermuda-domiciled reinsurance sidecar West Grove Re, the life insurance provider said on Tuesday, which has so far raised $1 billion. The...
Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets. Issuance of cat bonds that include exposure to wildfires has already soared to more than...
By Russ Banham The line between traditional indemnity insurance and parametric solutions is fading. Although carriers have offered both for decades, operational silos kept them separate: indemnity...
The world’s biggest hub for commercial and specialty risk is angling for a much more prominent role in the $140 billion global market for insurance-linked securities. Issuance of ILS products,...
Hedge funds are racing to build specialized desks trading natural catastrophe risk, but recruiters say qualified ILS modeling talent is in short supply.
The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes. The $200 million bond was oversubscribed by investors, the World Bank said in a...
Fermat Capital Management has invested in the Asian Development Bank’s first-ever catastrophe bonds, designed to shield Kyrgyzstan and Tajikistan against specific types of natural disasters. The two...
A team of former Credit Suisse bankers is preparing to launch a fund they say will offer double-digit returns in exchange for taking on some of the insurance risk tied to data centers. Euler ILS...