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"), ... Continue Reading »
Earthquake
GC Securities* Completes First Ever Indemnity Triggered Multi-Europe Peril Only 144A Catastrophe Bond for Assicurazioni Generali S.p.A.
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 ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV
Aidan 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 ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part II
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 ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part I
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 »
Public Sector Risk Financing Perspectives in Asia Pacific: Part II: Highlights of Recent Initiatives
Graham 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, ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part IV
Aidan 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 ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part II
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 ... Continue Reading »
Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Part I
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 »
Public Sector Risk Financing Perspectives in Asia Pacific: Part II: Highlights of Recent Initiatives
Graham 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, ... Continue Reading »
