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Schemes urged to act on bulk annuities as funding 'crumbles'
Schemes urged to act on bulk annuities as funding 'crumbles'
A combination of increased interest rates, strong equity performance, reduced longevity assumptions, and insurer capacity have boosted aggregated DB scheme funding to their highest levels in several years, leading to around £29bn in UK pension risk transfer so far this year.
#ART#Longevity#Pensions
·professionalpensions.com·
Schemes urged to act on bulk annuities as funding 'crumbles'
The world is not ready to stop a global disease outbreak
The world is not ready to stop a global disease outbreak
"There’s widespread agreement that it’s virtually certain we are going to be facing another epidemic, or pandemic... The question is how soon—it could be many years. It could be next year."
#ART#CAT
·fastcompany.com·
The world is not ready to stop a global disease outbreak
IMF recommends catastrophe bonds for Bangladesh
IMF recommends catastrophe bonds for Bangladesh
Bangladesh could benefit from the use of insurance and reinsurance structures including catastrophe bonds as a way to secure much needed capacity enabling it to better respond to natural disasters and climate related risks, according to the International Monetary Fund (IMF).
#ART#ILS#CAT
·artemis.bm·
IMF recommends catastrophe bonds for Bangladesh
Court ruling on Prudential annuities deal poses dilemma for insurers
Court ruling on Prudential annuities deal poses dilemma for insurers
Life insurers Prudential and Rothesay are set to decide within days whether to appeal against last month’s shock court decision to block a £12bn annuity deal. The deal, which required a court-approved process called Part VII transfer, was part of Prudential’s plan to split its UK business from its Asian and US operations.
#ART#Longevity
·ft.com·
Court ruling on Prudential annuities deal poses dilemma for insurers
Parametric ILS "vital" to reduce protection gaps, increase resilience: Mark Carney, Bank of England
Parametric ILS "vital" to reduce protection gaps, increase resilience: Mark Carney, Bank of England
Mark Carney: “New products, such as insurance-linked securities based on parametric triggers, are vital to help reduce macro protection gaps and increase resilience... These are generally cheaper to structure and administer and more efficient to blend with commercial finance if required.”
#Reinsurance#ILS#ART#CAT
·artemis.bm·
Parametric ILS "vital" to reduce protection gaps, increase resilience: Mark Carney, Bank of England
Rothesay chalks up another record with Allied Domeq pension deal
Rothesay chalks up another record with Allied Domeq pension deal
In a GBP 3.8 billion buy-in deal, Rothesay Life will guarantee the benefits for 17,000 pensioners and around 10,000 workers in the Allied Domecq Pension Fund, taking Rothesay’s total assets past GBP 50 billion. This is the largest deal covering yet-to-retire members.
#ART#Longevity#Pensions
·reuters.com·
Rothesay chalks up another record with Allied Domeq pension deal
Hymans Robertson Risk Transfer seminar 2019 highlights
Hymans Robertson Risk Transfer seminar 2019 highlights
Over the last 12 years, buy-in and buy-out volumes have increased dramatically, especially in 2018 and 2019 - with over £40bn worth of transactions expected to be completed this year. Demand now outweighs supply, resulting in some insurers having to turn away pension schemes looking to transact.
#ART#Longevity#Pensions
·hymans.co.uk·
Hymans Robertson Risk Transfer seminar 2019 highlights
Guy Carpenter’s Cerulean Re ILS platform completes $25m private deal
Guy Carpenter’s Cerulean Re ILS platform completes $25m private deal
Cerulean Re SAC Ltd., the private catastrophe bond and insurance-linked securities (ILS) issuance vehicle operated by reinsurance broker Guy Carpenter and Marsh Captive Solutions, has completed another transaction, a $25 million Cerulean Re SAC Ltd. (Series 2019-E1) issuance.
#ILS#ART#CAT
·artemis.bm·
Guy Carpenter’s Cerulean Re ILS platform completes $25m private deal
How a buy-in accelerated the journey
How a buy-in accelerated the journey
"We recently supported a multi-billion £ pension scheme in securing their first buy-in transaction, which not only achieved attractive pricing but also incorporated a member options exercise. This case study highlights the importance of setting a clear long term objective and how completing a buy-in can support you in reaching that ultimate goal."
#ART#Longevity#Pensions
·hymans.co.uk·
How a buy-in accelerated the journey
7 Republican senators urge passage of SECURE Act
7 Republican senators urge passage of SECURE Act
Seven Republican senators wrote a letter to Majority Leader Mitch McConnell, R-Ky., urging the passage of the Setting Every Community up for Retirement Enhancement (SECURE) Act of 2019is an important step to help families save for retirement.
#ART#Longevity#Pensions
·pionline.com·
7 Republican senators urge passage of SECURE Act
Artemis Monte Carlo Rendezvous Executive Roundtable 2019
Artemis Monte Carlo Rendezvous Executive Roundtable 2019
"Welcome to the fourth Artemis Monte Carlo Reinsurance Rendezvous Roundtable, in which participants from across the insurance, reinsurance, and insurance-linked securities (ILS) market discussed a range of industry topics and trends."
#ART#ILS#CAT
·artemis.bm·
Artemis Monte Carlo Rendezvous Executive Roundtable 2019
USAA launches 34th cat bond, a $150m Residential Re 2019-2 multi-peril deal
USAA launches 34th cat bond, a $150m Residential Re 2019-2 multi-peril deal
"USAA is returning to the capital markets for what will be its 34th time sponsoring a catastrophe bond, bringing a new multi-peril Residential Reinsurance 2019 Limited (Series 2019-2) deal to market in search of at least $150 million of collateralised reinsurance protection."
#ART#ILS#CAT
·artemis.bm·
USAA launches 34th cat bond, a $150m Residential Re 2019-2 multi-peril deal
Jamaica gets cat bond premium support from the World Bank
Jamaica gets cat bond premium support from the World Bank
"The World Bank has provided Jamaica with a $14.85 million grant out of its recently established Global Risk Financing Facility (GRiF), to help the Caribbean country expand its disaster risk financing and transfer needs."
#ART#ILS#CAT
·artemis.bm·
Jamaica gets cat bond premium support from the World Bank
Citadel offers weather hedging capacity on weatherXchange
Citadel offers weather hedging capacity on weatherXchange

Citadel invests and allocates capital across a huge range of asset classes, one of which within its commodities business is the energy sector and within that it appears so to is the weather exposure that energy companies tend to carry. weatherXchange helps any company access index-based, or parametric, weather protection and hedging products more easily, being able to request quotes from a number of leading capacity providers including reinsurance and insurance-linked securities (ILS) firms. Citadel Energy Investments Ltd. will join weatherXchange as one of these Protection Sellers, able to provide quotes in response to price requests received through the platform and provide weather risk protection capacity directly, or indirectly through an intermediate broker.

#ILS#Climate#ART#CAT
·artemis.bm·
Citadel offers weather hedging capacity on weatherXchange
Philippines cat bond launched at $225m by World Bank IBRD
Philippines cat bond launched at $225m by World Bank IBRD
A catastrophe bond (IBRD CAR 121-122) has been launched to the market seeking to secure risk transfer and disaster insurance protection for the Philippines, with the World Bank supporting the country in securing a capital markets backed source of capacity for catastrophe loss events.
#ART#ILS#CAT
·artemis.bm·
Philippines cat bond launched at $225m by World Bank IBRD
Covéa’s Hexagon II Re cat bond fixed at €120m, at lowest pricing
Covéa’s Hexagon II Re cat bond fixed at €120m, at lowest pricing
French mutual insurance society Covéa Group’s new catastrophe bond, the Hexagon II Reinsurance DAC (Series 2019-1) transaction, will secure the firm €120 million of collateralised reinsurance coverage from the capital markets, having upsized by 20%
#ART#ILS#CAT
·artemis.bm·
Covéa’s Hexagon II Re cat bond fixed at €120m, at lowest pricing
UK regulator under fire over £12bn annuity deal
UK regulator under fire over £12bn annuity deal
The UK’s Prudential Regulation Authority has come under fire for playing “fast and loose” with pensions over its willingness to nod through transfers of savings from long-established insurers to newer specialist rivals.
#ART#Longevity#Pensions
·ft.com·
UK regulator under fire over £12bn annuity deal
Letter to watchdog on Pru-Rothesay transfer was full of inaccuracies
Letter to watchdog on Pru-Rothesay transfer was full of inaccuracies
"While there is always space for robust debate about the best way to protect pensions, your report “Watchdog hits flak over £12bn annuities shift” (October 28) refers to a letter sent to the Prudential Regulation Authority that contains so many inaccuracies as to be unhelpful and irresponsible."
#ART#Longevity#Pensions
·ft.com·
Letter to watchdog on Pru-Rothesay transfer was full of inaccuracies
Matching adjustment is open to abuse
Matching adjustment is open to abuse
"Matching adjustment allows life companies to buttress their balance sheets by creating tens of billions in fake capital, and makes companies appear to be in much better financial shape than they are. There are companies whose capital would be wiped out but for matching adjustment."
#ART#Longevity#Pensions
·ft.com·
Matching adjustment is open to abuse