Posts Tagged ‘Earthquake’



September 21st, 2017

Catastrophe Events Occurring In North America Recently

Posted at 1:00 AM ET

Here we review GC Capital Ideas posts on the three most recent catastrophe events occurring in North America within a period of 16 days.

Continue reading…

September 20th, 2017

7.1 Mw Earthquake Near Raboso, Mexico

Posted at 1:51 PM ET

7-1-eq-raboso-mexico-smA magnitude (Mw) 7.1 earthquake struck near Raboso, Mexico yesterday, according to the U.S. Geological Survey (USGS). The quake occurred at 1:14 p.m. local time (18:14 UTC), with Mexico City approximately 122 kilometers (75.9 miles) southeast of the epicenter.

Continue reading…

September 8th, 2017

8.1 Mw Earthquake Near Pijijiapan, Mexico

Posted at 1:50 PM ET

8-1mw-eq-pijijiapan-mexico-smA magnitude (Mw) 8.1 earthquake struck in the Pacific Ocean southwest of Pijijiapan, Mexico, according to the U.S. Geological Survey (USGS). The quake occurred at 11:49 p.m. local time (04:49 UTC).

Continue reading…

August 4th, 2017

GC Securities Completes First Listed P&C Cat Bond Issued by World Bank International Bank for Reconstruction & Development’s Capital-at-Risk Program

Posted at 5:30 AM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of a catastrophe bond benefitting the government of Mexico’s Fund for Natural Disasters (FONDEN). The $360,000,000, three-class catastrophe bond is issued by the International Bank for Reconstruction and Development (”World Bank” or “IBRD”), and represents the first listed property and catastrophe bond issued under its Capital-at-Risk notes program.

Continue reading…

July 10th, 2017

GC Securities* Completes First Ever Indemnity Triggered Multi-Europe Peril Only 144A Catastrophe Bond for Assicurazioni Generali S.p.A.

Posted at 5:15 AM ET

GC Securities, a division of MMC Securities LLC, a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of Principal At-Risk Variable Rate Notes, with notional principal at €200,000,000, through a newly formed special purpose vehicle domiciled in Ireland, Lion II Re DAC, to benefit Assicurazioni Generali S.p.A., an Italian insurance company and the parent company of the Generali Group. This is the third time that Assicurazioni Generali S.p.A. has utilized the insurance-linked securities market and is the first ever 144A cat bond to provide indemnity protection against multiple Europe perils.

Continue reading…

June 22nd, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

Contact

Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

Continue reading…

June 20th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part II

Posted at 1:00 AM ET

aidan-pope-headshot-sm21

Aidan Pope, Managing Director

Contact

Many recent catastrophe events in the Latin America/Caribbean region provide examples of the protection gap: Only 5 percent of the USD 8 billion economic loss from Haiti’s 2010 earthquake was insured; and the insured portion of the USD 2 to 3 billion economic loss caused by the April 2016 earthquake in Manta, Ecuador, is expected to reach no more than 15 percent. The 2016 earthquake has deeply impacted the local economy and government finances as unemployment increased by approximately 50 percent and the government was compelled to increase sales taxes by two percent to fund national reparation and recovery costs. In general, emerging markets face a much larger protection gap than developed economies:

Continue reading…

June 19th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part I

Posted at 1:00 AM ET

aidan-pope-headshot-sm2

Aidan Pope, Managing Director

Contact

Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean (LAC) region (1); losses from Hurricane Matthew in the Caribbean are still being assessed.

Continue reading…

May 16th, 2017

Public Sector Risk Financing Perspectives in Asia Pacific: Part II: Highlights of Recent Initiatives

Posted at 1:00 AM ET

graham-jones-smGraham Jones, Senior Vice President

Contact

In July 2016, the China Residential Earthquake Insurance Pool (CREIP) was jointly established by the China Insurance Regulatory Commission (CIRC) and Ministry of Finance. In development since 2014, the scheme consists of 45 insurers distributing policies with basic limits of USD 7,500 and USD 3,000 for urban and rural residents, respectively. Coverage up to a maximum limit of USD 150,000 is negotiable. The claims process has been simplified with payouts equaling zero, 50 or 100 percent of the policy limit based on five damage levels.

Continue reading…

March 30th, 2017

Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV

Posted at 1:00 AM ET

aidan-pope-headshot-sm25Aidan Pope, Managing Director

Contact

Mexico’s risk management strategy has earned a strong reputation in the international community. The World Bank said it is “at the vanguard of initiatives aimed at the development of an integrated disaster risk management framework, including the effective use of risk financing and insurance mechanisms to manage the fiscal risk derived from disasters,” highlighting it as an example for other governments to follow (1).

Continue reading…