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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
USAA's Residential Re 2019-2 cat bond priced at upsized $160m
USAA's Residential Re 2019-2 cat bond priced at upsized $160m
USAA’s latest and 34th sponsorship of a catastrophe bond looks set to complete at a slightly upsized $160 million, with the multi-peril Residential Reinsurance 2019 Limited (Series 2019-2) deal now priced.
#ART#ILS#CAT
·artemis.bm·
USAA's Residential Re 2019-2 cat bond priced at upsized $160m
Swiss Re may cede more risk to sidecar Sector Re: CFO Dacey
Swiss Re may cede more risk to sidecar Sector Re: CFO Dacey
Global reinsurance firm Swiss Re is watching for potential opportunities in the retrocession market as this segment reacts to repeated losses and issues with trapped collateral, that the reinsurer believes may attract investors to work more closely with it.
#ART#ILS#CAT
·artemis.bm·
Swiss Re may cede more risk to sidecar Sector Re: CFO Dacey
Cat risk: why forecasting climate change is a disaster
Cat risk: why forecasting climate change is a disaster
Anthropogenic climate change is accelerating – its effects on the earth are catastrophic, and the fallout for insurers is proving disastrous. Insurers and reinsurers depend on forecasters – and their models – to estimate losses in climate-driven catastrophes. Forecasters’ cat models have in the past relied on historic data that cannot predict worse scenarios than they contain. More dynamic models – GCMs – are on the rise, utilising scenarios that anticipate climate change trajectories. So far, their use has not improved loss forecasts enough for insurers’ tastes. Can forecasters find a sweet spot between cat models and GCMs, or are industry losses set to continue?
#ART#ILS#CAT
·risk.net·
Cat risk: why forecasting climate change is a disaster
New all-perils cat bond strengthens access to capital markets, Covéa says
New all-perils cat bond strengthens access to capital markets, Covéa says
"French mutual insurance society Covéa Group said today that its successful sponsorship of a new €120 million Hexagon II Reinsurance DAC (Series 2019-1) catastrophe bond transaction has strengthened its access to global capital markets as a source of reinsurance."
#ART#ILS#CAT
·artemis.bm·
New all-perils cat bond strengthens access to capital markets, Covéa says
World Bank's cat bond for the Philippines not upsized, set at $225m
World Bank's cat bond for the Philippines not upsized, set at $225m
The World Bank supported catastrophe bond that is in the market to secure risk transfer and disaster insurance protection for the Philippines has not upsized, with the IBRD CAR 123-124 transaction still aiming for $225 million.
#ART#ILS#CAT
·artemis.bm·
World Bank's cat bond for the Philippines not upsized, set at $225m
Pricing fixed for World Bank's first Philippines cat bond
Pricing fixed for World Bank's first Philippines cat bond
The first CAT bond ever issued to cover natural peril exposures in the Philippines has now been priced. The IBRD CAR 123-124 cat bond transaction is set to provide the government of the Philippines with a $225 million source of capital markets backed disaster insurance protection.
#ILS#ART#CAT
·artemis.bm·
Pricing fixed for World Bank's first Philippines cat bond
FedEx Fleeing PBGC
FedEx Fleeing PBGC
Starting in 2020, new FedEx hires will have their own 40(k) plan and not be able to enter the Cash Balance plan though employees were assured this is not a cost-saving initiative, but “an evolution of our employee benefits to attract and retain talent.” Not entirely true. The savings would come from reduced premiums to the Pension Benefit Guaranty Corporation.
#ART#Pensions#Longevity
·burypensions.wordpress.com·
FedEx Fleeing PBGC
UNICEF looks to catastrophe bonds as post-disaster funding structures
UNICEF looks to catastrophe bonds as post-disaster funding structures
Catastrophe bonds continue to gain traction as a potential capital structure for delivering post-disaster financing or funding for international humanitarian and development organisations, with the United Nations agency UNICEF among the latest to explore insurance-linked securities.
#ART#ILS#CAT
·artemis.bm·
UNICEF looks to catastrophe bonds as post-disaster funding structures
Discipline has returned to the ILS market: Roundtable
Discipline has returned to the ILS market: Roundtable
Investors in the insurance-linked securities (ILS) space are demanding discipline from managers in the wake of recent loss events and subsequent loss creep, while an elevated need for comfort is leading to a surge in demand for proportional deals, according to industry experts.
#ILS#ART#CAT
·artemis.bm·
Discipline has returned to the ILS market: Roundtable
Why Death Bonds Look So Frail
Why Death Bonds Look So Frail
The business model is straightforward. Policyholders, usually people over 65 holding multimillion-dollar plans, agree to sell their insurance to investors, often at a third of its value. The new owners pay the premiums and ultimately collect the death benefit. Those speculators are ghoulishly betting that the former policyholders will die sooner rather than later, creating an early payout and a tidy profit.
#ART#Longevity#Pensions
·bloomberg.com·
Why Death Bonds Look So Frail