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Kiffmeister's Alternative Risk Transfer Weekly Digest

Mar 17 2020 00:01 keyboard_arrow_downkeyboard_arrow_up Comment0 language

Retrocessional reinsurance capacity remains scarce for some specialty perils, especially cyber reinsurance, Johansmeyer said, adding that the capital markets can fill this hole and the ILW is the ideal solution to help it in.
The collateralised reinsurance sidecar leaves a lot to be desired, speakers at a conference discussed recently, with the structure singled out as being cumbersome and inefficient, leading to an opportunity for anyone wanting to innovate and work to improve them.
The government of Mexico has said that its newly issued $485 million World Bank facilitated catastrophe bond, the IBRD / FONDEN 2020 transaction, is an important part of the country’s social protection strategy and reflects its “enormous commitment” to protecting its citizens from natural disasters.
Governments and entities like the World Bank should first use their reserves and borrowing, which are less costly sources of risk financing than insurance.
The reality of climate change need to be addressed and addressed fast by countries, governments and public sector entities, and the risk transfer, reinsurance and insurance-linked securities (ILS) sectors are well-placed to assist, according to Guy Carpenter.
Severe weather events and demographic challenges are putting an increasing strain on government finances, requiring a rethink of how catastrophic events are funded and a greater use of public-private partnerships to manage risk, according to Guy Carpenter.
Pandemic bonds issued by the World Bank are under fire, accused of having structural flaws that prevent them from supporting poor countries hit hard by coronavirus.

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