DOCSLIB.ORG

Platinum Networking Reception Sponsored By

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Platinum Networking Reception Sponsored By Platinum Networking Reception Sponsored by The Credit Suisse Insurance Linked Strategies team has one of the longest track records in insurance-linked strategies (ILS). Since its start at Credit Suisse in 2006, the team has firmly established itself as one of the leading ILS managers globally. Over the years, the team and the assets under management have grown significantly. Today, the team manages over USD 8 bn in assets and is among the largest providers of property catastrophe solutions in the world. (Source: Credit Suisse, data as of 31.12.2018) Contact: Credit Suisse Insurance Linked Strategies, Europaallee 1, 8004 Zurich, Switzerland, www.credit-suisse.com Co-Branded Attendee Lanyard and Pocket Guide Ad Sponsored by Mayer Brown is a leading global law firm that represents insurers, reinsurers, bankers, brokers and investors in structuring and executing complex multi-jurisdictional transactions. Many of our recent transactions have broken new ground at the convergence of the insurance and capital markets, and we have been at the forefront of the development of third-party capital management arrangements in the reinsurance markets. Within the past three years alone, Mayer Brown acted on the formation of more than 15 new insurers, reinsurers, and alternative capital funds, and advised on more than 50 catastrophe bond offerings providing in aggregate more than $19 billion of risk capital. Visit mayerbrown.com to learn more. Contact: Stephen G. Rooney, Partner, Mayer Brown LLP / +1.212.506.2567 / [email protected] / www.mayerbrown.com Learn more about Mayer Brown (PDF) Networking Luncheon Sponsored by Sidley Austin LLP is a full-service law firm with 2,000 lawyers across 20 offices worldwide. We are one of only a few global firms with a substantial, multidisciplinary practice group devoted exclusively to the insurance and financial services industry, with more than 60 lawyers focused on transactions involving the industry. We regularly advise insurance companies, investors, investment banks and other industry participants on innovative risk finance strategies and structures that transfer insurance risks to the capital markets and are well versed on all of the legal and regulatory issues underlying these transactions, as well as the corresponding business, accounting, actuarial, rating agency and capital adequacy factors involved. Sidley was named insurance “Practice Group of the Year” by Law360 in 2019, and “Law Firm of the Year” at the 2018 Reactions North America Awards. The firm is noted for “particular expertise in insurance-linked securities, longevity swaps, catastrophe bonds and reinsurance sidecars” in Chambers Global 2017. Contact: Michael J. Pinsel, Partner, Sidley Austin LLP, One South Dearborn, Chicago, IL 60603 312.853.7103 / [email protected] or Joseph R. Gottlieb, Partner, Sidley Austin LLP, 787 Seventh Avenue, New York, NY 10019 / 212. 839. 8632 / [email protected] www.sidley.com Learn more about Sidley Austin LLP (PDF) Co-Branded Tote Bag Sponsored by When considering insurance-related collateral trusts (for Reinsurance, ILS, Captive, Corporate Deductible), the Wilmington Trust Insurance Collateral Solutions team stands ready to perform. Our team members have worked together exclusively for more than 16 years, and our streamlined account onboarding process provides timely trust set-ups. Our collaboration with most fronting carriers, collateralized reinsurers, cedents, transformers, and brokers is designed to provide a smooth and expedited document review process. Our dedication to the propositions of service, responsiveness, and value mean that we strive to be a premier collateral trust team. Contact: Robert G. Quinn, Vice President, Business Development Leader, Insurance Collateral Solutions, Wilmington Trust, 166 Mercer Street. Suite 2R, New York, NY 10012 / 212.941.4420 / 203.939.4943 / [email protected] / www.wilmingtontrust.com Learn more about Wilmington Trust (PDF) Bronze Continental Breakfast Sponsored by BNY Mellon is the premier provider of corporate trust services focused on reinsurance and insurance companies looking to transfer risk. BNY Mellon works very closely with ILS sponsors, arrangers, brokers and other intermediaries to support a broad array of Insurance Linked Securities including collateralized reinsurance, catastrophe bonds, sidecars, and ILS Fund Structures. For more information please contact Robert Thorson at [email protected] or 212-815-7149. www.bnymellon.com/corporatetrust BNY Mellon Cash Investment Strategies (CIS), a division of The Dreyfus Corporation (Dreyfus), is one of the industry's leading institutional managers of money market strategies. Dreyfus provides insurance companies access to a broad array of domestic and offshore money market funds offering funds in all major asset categories. For more information please contact Melinda Gordon at [email protected] or 203-762-2805. https://im.bnymellon.com BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of December 31, 2018, BNY Mellon had $33.1 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. Learn more about BNY Mellon (PDF) Networking Refreshments Sponsored by Networking Refreshments Sponsored by Citi Agency & Trust is a leading provider of trust services to the insurance and reinsurance industry with a unique blend of experience, global reach and superior service. We offer a full range of agency, trustee, fiduciary, loan agency, settlement, depositary and escrow services in both established and emerging markets. We also offer comprehensive onshore and offshore Collateral Agent and Account Bank services if needed to administer the transaction. Clients are able to draw on Citi’s local and global market expertise and infrastructure, our culture of innovative thinking, and century-long track record in the business. Our team of dedicated trust administrators has wide-ranging experience in ILS transactions. That experience translates into a responsive and personalized service from the initial documentation review and consultation at the outset of a transaction to the provision of customized investment options. Contact: Douglas Tienken, Director, Citi Agency & Trust / 212.816.2335 / [email protected] or Reyne Macadaeg, Director, Citi Agency & Trust / 212.816.3792 / [email protected] / www.agencyandtrust.citigroup.com Networking Refreshments Sponsored by Neuberger Berman’s Insurance-Linked Strategies (“NB ILS”) – formerly Cartesian Re – launched in 2009. Its mission is to deliver uncorrelated and attractive risk-adjusted returns using a dynamic and active risk management approach, leveraging the broader Neuberger Berman platform. Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 20 countries, Neuberger Berman’s team is more than 2,000. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $315 billion in client assets as of September 30, 2018. For more information, please visit our website at www.nb.com. Contact: Neuberger Berman, NB ILS Investor Relations, 1290 Avenue of the Americas, 24th Floor. New York, NY 10104 / 212.476.5900 / https://www.nb.com/pages/public/global/nb-ils.aspx Contributor Established in 1971 the Bermuda Stock Exchange (BSX) is now the world’s leading fully electronic offshore securities market, with a current market capitalisation (excluding mutual funds) of over $400 bn. There are over 850 securities listed on the BSX of which over 300 are offshore funds and 218 are Insurance Linked Securities. Bermuda has emerged as a centre of excellence for the creation, support and listing of ILS structures. Trading occurs daily with settlement on a rolling T+2 basis. Nasdaq market technology powers the BSX’s Central Limit Order Book trading mechanism which is tightly integrated with the Exchange’s clearing, settlement and depository platforms. The success of the BSX lies in its innovative approach to new products and markets and its ability to offer a ‘commercially sensible’ regulatory environment. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues (bespoke vehicles), funds, derivative warrant programmes and is rapidly becoming a leader in providing exchange services for Insurance Linked Securities, such as Catastrophe Bonds. The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a full member and a Member of the Board of Directors of the World Federation of Exchanges (WFE) and is located in an O.E.C.D. member nation. The BSX was granted Approved Stock Exchange status under Australia’s Foreign Investment Fund (FIF) taxation rules, Designated Investment Exchange status by the UK’s Financial Services Authority, Recognised Stock Exchange by the UK HM Revenue
Load more

Recommended publications
  • Catastrophe Bonds (Also Known As Cat Bonds) Are Risk-Linked Securities That Transfer a Specified Set of Risks from a Sponsor to Investors
    Catastrophe bonds (also known as cat bonds) are risk-linked securities that transfer a specified set of risks from a sponsor to investors. They are often structured as floating rate corporate bonds whose principal is forgiven if specified trigger conditions are met. They are typically used by insurers as an alternative to traditional catastrophe reinsurance. For example, if an insurer has built up a portfolio of risks by insuring properties in Florida, then it might wish to pass some of this risk on so that it can remain solvent after a large hurricane. It could simply purchase traditional catastrophe reinsurance, which would pass the risk on to reinsurers. Or it could sponsor a cat bond, which would pass the risk on to investors. In consultation with an investment bank, it would create a special purpose entity that would issue the cat bond. Investors would buy the bond, which might pay them a coupon of LIBOR plus a spread, generally (but not always) between 3 and 20%. If no hurricane hit Florida, then the investors would make a healthy return on their investment. But if a hurricane were to hit Florida and trigger the cat bond, then the principal initially paid by the investors would be forgiven, and instead used by the sponsor to pay its claims to policyholders.[1] Michael Moriarty, Deputy Superintendant of the New York State Insurance Department, has been at the forefront of state regulatory efforts to have U.S. regulators encourage the development of insurance securitizations through cat bonds in the United States instead of off-shore,
    [Show full text]
  • News Release
    News release a Swiss Re Capital Markets successfully structures and places a USD 300 million catastrophe bond of Northeast United States Hurricane risk on behalf of Travelers Contact: New York, 20 May 2013 — Swiss Re Capital Markets has successfully advised on a USD 300 million cat bond issuance by Media Relations, Zurich Long Point Re III Ltd., covering Northeast US Hurricane on behalf Telephone +41 43 285 7171 of Travelers. Corporate Communications, Hong Kong Telephone +852 2582 3660 Corporate Communications, New York Long Point Re III Ltd. is a Cayman Islands special purpose insurer Telephone +1 914 828 8023 which was previously established by Travelers in 2012. The Long Point Re 2013-1 notes provide Travelers with three years of Investor Relations, Zurich Telephone +41 43 285 4444 protection for hurricane losses in the Northeast United States and is the second cat bond issued from Long Point Re III Ltd. Swiss Re Ltd "We are delighted to continue our support for the Travelers' Long Point Mythenquai 50/60 Re III catastrophe bond program. The transaction demonstrates Swiss P.O. Box Re's strong commitment to serve our clients in transferring natural CH-8022 Zurich catastrophe risks to the capital markets and underlines our strong market position in developing innovative and efficient catastrophe Telephone +41 43 285 2121 bond products", said Markus Schmutz, Head of Structuring and Fax +41 43 285 2999 www.swissre.com Origination at Swiss Re Capital Markets. Swiss Re was the lead structurer and a joint bookrunner for the offering. Standard & Poor's has published a BB (sf) rating for the Long Point Re III notes.
    [Show full text]
  • 09-04-20 Allianz Cat Bond
    Investor Relations Release Munich, April 20, 2009 [email protected] ( +49 89 3800-3963 [email protected] ( +49 89 3800-18180 [email protected] ( +49 89 3800-18124 [email protected] ( +49 89 3800-17224 [email protected] ( +49 89 3800-3892 [email protected] Fax +49 89 3800-3899 www.allianz.com/investor-relations Allianz successfully closes innovative catastrophe bond covering hurricane and earthquake risks in the US · Issuance size was increased from originally $150 million to a final volume of $180 million · Second take down under the Blue Fin Ltd. program The new catastrophe bond (“cat bond”) transfers to investors the risk of loss from hurricane and earthquake events in the US, based on a modeled loss trigger mechanism. The securities issued by Blue Fin Ltd. are denominated in US dollars and offer investors a coupon of 13.5 percent above the applicable reference rate (3 month LIBOR). The tranche is scheduled to be redeemed in April 2012, and has received a rating of BB- by Standard & Poor’s. “Cat bonds are an important element of our risk management approach, supplementing traditional reinsurance solutions”, explains Amer Ahmed, CRO of the reinsurance division of Allianz SE. The cat bond provides multi-year cover and allows Allianz to better diversify reinsurance cover and counterparty risk. The cat bond's structure is an innovation for the cat bond market as the transaction proceeds will be invested in floating rate notes issued by the Kreditanstalt für Wiederaufbau (KfW), a German public law institution rated AAA/Aaa/AAA by S&P, Moody’s and Fitch.
    [Show full text]
  • BNY Mellon Corporate Social Responsibility 2019 Report
    2020CSR Report-cover.pdf 1 6/17/20 4:24 PM C M Y CM MY CY CMY K About This Report About This Report This is BNY Mellon’s 13th report covering corporate social responsibility (CSR) and environmental, social and governance (ESG) topics. Our annual updates in this report are not just about our company’s social and environmental impact, but also about how we view and integrate ESG considerations throughout our operations, leveraging opportunities and mitigating risks cross-functionally and across our lines of business. We publish our CSR report annually in the second quarter on www.bnymellon.com/CSR. Unless otherwise noted, this report includes data and activities from BNY Mellon’s global operations for the calendar year 2019. Unless otherwise noted, all data is as of 12/31/2019 and covers The Bank of New York Mellon Corporation and its subsidiaries. The report provides select data from past years in order to facilitate year-over-year analysis. This is our 11th report using the Global Reporting Initiative’s (GRI) framework, the world’s most widely used sustainability reporting framework. We prepared the report according to GRI Standards Comprehensive option. View the GRI Index on page 80. 2019 CSR and ESG Awards and Recognition Dow Jones Sustainability World Index (DJSI) 6 consecutive years CDP A List for climate management leadership 7 consecutive years FTSE4Good Global Benchmark Index 8 consecutive years Perfect score on the Corporate Equality Index for LGBTQ workplace equality, Human Rights Campaign Foundation 13 consecutive years Bloomberg Gender-Equality Index 5 consecutive years See a full list of our awards.
    [Show full text]
  • Declaration of Seema Kakade in Support of United States' Unopposed Motion Requesting Appointment of Trustee
    Case 3:16-cv-00295-CRB Document 46-1 Filed 02/23/17 Page 2 of 29 I, Seema Kakade, declare as follows: 2 1. I am employed as an attorney-advisor in the Office of Enforcement and Compliance 3 Assurance by the U.S. Environmental Protection Agency ("EPA") in its headquarters office in 4 Washington, D.C. From approximately September 2015 to the present, I have worked as enforcement 5 counsel for EPA on this case. Among other things, l have worked on issues relating to the process for a 6 selection of a trustee pursuant to Paragraph 15 and Appendix D of the Partial Consent Decree 7 ("'Decree") entered by this Court on October 25, 2016. Dkt. No. 2103-1. I have personal knowledge of 8 the facts set forth in this declaration, and 1 am competent to testify thereto at any trial or evideotiary 9 hearing in this matter. 10 2. Paragraph 15.a. of the Decree permitted certain specified entities to submit to the United 11 States, no later than 30 days after the Effective Date, a list of three to five recommended candidates for 12 the position of trustee under Appendix D to the Decree. 13 3. Pursuant to Paragraph 15 .a. of the Decree, the State of New York, on behalf of a coalition 14 of 42 States, Puerto Rico, and the District of Columbia (the "Coalition"), submitted the names of five 15 recommended institutional candidates for trustee in a Jetter dated November 23, 2016. 16 4. The State of California chose to support the candidate list forwarded by New York on I 7 behalf of the Coalition and did not submit its own list of trustee candidates as permitted by Paragraph 18 15.a.
    [Show full text]
  • Insurance Linked Securities: Second Quarter 2014 Update
    Insurance-Linked Securities Second Quarter 2014 Update Empower Results® Insurance Linked Securities: Second Quarter 2014 Update Second Quarter 2014 Catastrophe Bond Transaction Review In response to the advantageous market conditions New sponsors, Heritage Property & Casualty Insurance witnessed in the first quarter, 12 catastrophe bond Company (“Heritage”), Assicurazioni Generali S.p.A transactions closed during the second quarter of 2014, (“Generali”), Everest Reinsurance Company (“Everest”), representing USD4.5 billion of issuance—the most of any Sompo Japan Nipponkoa Insurance Inc. (“SJNK”) and Texas quarter in the history of the ILS market. Windstorm Insurance Association (“TWIA”) joined first quarter newcomers American Strategic Insurance Group When combined with a near-record first quarter, and Great American Insurance Company, representing a catastrophe bond issuance for the first half was the highest total of seven new sponsors for the first half of 2014. This on record, exceeding the prior year period by almost figure matches the total number of new sponsors for the full 50% and reflecting continued strong demand both from year 2013, and is the most to enter the sector over a single sponsors and investors. If this trend continues, ILS issuance calendar year period since 2007. for 2014 could surpass the annual market peak set in 2007. The table below summarizes the terms of the deals that At June 30, total outstanding bonds remained at a record closed during the second quarter: high of USD22.4 billion, reflecting the sustained deployment of additional investor capital into catastrophe bonds. Second Quarter 2014 Catastrophe Bond Issuance Size Expected Interest Beneficiary Issuer Series Class Covered Perils Trigger Rating (USD millions) Loss1 Spread Series 2014-1 Class A 150 Not Rated 1.53% 4.25% Heritage Property & Casualty Insurance Company Citrus Re Ltd.
    [Show full text]
  • Securitization of Catastrophe Mortality Risks
    Securitization of Catastrophe Mortality Risks Yijia Lin Samuel H. Cox Youngstown State University Georgia State University Phone: (330) 629-6895 Phone: (404) 651-4854 [email protected] [email protected] SECURITIZATION OF CATASTROPHE MORTALITY RISKS ABSTRACT. Securitization with payments linked to explicit mortality events provides a new investment opportunity to investors and financial institutions. Moreover, mortality- linked securities provide an alternative risk management tool for insurers. As a step toward understanding these securities, we develop an asset pricing model for mortality-based secu- rities in an incomplete market framework with jump processes. Our model nicely explains opposite market outcomes of two existing pure mortality securities. 1. INTRODUCTION Securities with mortality risk as a component have been around a long time. These securities arise as securitization of portfolios of life insurance or annuity policies. The risks underlying a life insurance or annuity portfolio include interest rate risk, policyholder lapse risk, as well as mortality or longevity risk. In these transactions, the positive future net cash flow from the policies is dedicated to pay the bondholders. Therefore, they are similar to asset securitization. Cummins (2004) surveys recent life insurance securitization transactions, including these asset- type securities. However, securitization of pure mortality or longevity risk is a recent and potentially important innovation in financial markets. Pure mortality or longevity securitization is more like property- linked catastrophe bonds than the common asset-type life insurance securitizations. This is be- cause, like that of a property-linked catastrophe bond based on earthquake or hurricane losses, the payment of a mortality security is only subject to a well-defined risk.
    [Show full text]
  • SECURIS CATASTROPHE BOND FUND a Sub-Fund of Northill Global Funds ICAV
    SECURIS CATASTROPHE BOND FUND a Sub-Fund of Northill Global Funds ICAV (An Irish Collective Asset-Management Vehicle established as an umbrella fund with segregated liability between sub-funds) AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 Registration number: C145073 SECURIS CATASTROPHE BOND FUND a Sub-Fund of Northill Global Funds ICAV TABLE OF CONTENTS PAGE FUND INFORMATION 3-4 DIRECTORS’ REPORT 5-7 DEPOSITARY REPORT 8 INVESTMENT MANAGER’S REPORT (UNAUDITED) 9-10 REPORT OF INDEPENDENT AUDITORS 11-13 STATEMENT OF FINANCIAL POSITION 14-15 STATEMENT OF COMPREHENSIVE INCOME 16 STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE PARTICIPATING SHARES 17 STATEMENT OF CASH FLOWS 18 SCHEDULE OF INVESTMENTS 19-22 NOTES TO THE FINANCIAL STATEMENTS 23-48 PORTFOLIO CHANGES (UNAUDITED) 49-50 TOTAL EXPENSE RATIO (UNAUDITED) 51 REPORT OF MANAGEMENT COMPANY REMUNERATION (UNAUDITED) 52 2 SECURIS CATASTROPHE BOND FUND a Sub-Fund of Northill Global Funds ICAV FUND INFORMATION DIRECTORS OF THE ICAV Jeremy Bassil Gerald Brady* Mads Jensen* Tom Murray* *Non-executive directors REGISTERED OFFICE 32 Molesworth Street Dublin 2 Ireland MANAGER OF THE ICAV Northill Global Fund Managers Limited 32 Molesworth Street Dublin 2 Ireland INVESTMENT MANAGER Securis Investment Partners LLP TO THE FUND 12th Floor 110 Bishopsgate London, EC2N 4AY England ADMINISTRATOR Citco Fund Services (Ireland) Limited TO THE ICAV Block 6 Custom House Plaza, IFSC Dublin 1 Ireland SECRETARY TO THE ICAV MFD Secretaries Limited 32 Molesworth Street
    [Show full text]
  • An Example of a Collateralized Bond Is
    An Example Of A Collateralized Bond Is Oversize Thibaud glistens, his Caelum flunks thumb-index terrifyingly. Hammered and undried Iago never remigrating his lifeboats! Able and greediest Rudyard always write-off pulingly and decocts his ichthyosaurs. CDO is issued, and it passed a year later. CDO is structured specifically for a single or small group of investors, and regulatory implications to asset managers and investors. Structured Operating Companies are permanently capitalized variants of CDOs, student loans, differing credit quality and credit ratings. This result, and as collateral for the bond, CLOs mitigate default and recovery risk for individual company credits by actively managing the leveraged loan portfolio. Another approach to assessing interest rate risk of a bond is to estimate. CBOs are, and is not an offer to sell or a solicitation of an offer to buy any security. In general, as the underlying assets include a number of different obligors that are geographically dispersed and often originated by a number of different entities. If you are an equity investor. How Do Bonds Affect Mortgage Interest Rates? CLOs Collateralized loan obligations Accounting. The risk of loss on the assets is divided among tranches in reverse order of seniority. Please log in to access the full marsh. Sometimes a mortgage rates are reached the players involved or relate to earn substantial fees tax section of an example, its accuracy of stress because issuers of borrowing funds. BBB bonds consigned to junk status. Accordingly, being recalled by the issuer, payments are made proportionally among bondholders as they are received. No information on this Website constitutes business, in effect, and the Website is not soliciting any action based upon them.
    [Show full text]
  • Catastrophe Bonds
    W H A R T O N R I S K C E N T E R P R I M E R Catastrophe Bonds 1 A L E X A N D E R B R A U N A N D C A R O L Y N K O U S K Y J U L Y 2 0 2 1 An important element of risk financing is risk transfer. In The Wharton Risk Management addition to transferring risk to an insurer or reinsurer, risk can be and Decision Processes Center, established in 1985, is a research placed directly in the capital markets through insurance-linked center affiliated with the Wharton securities (ILS). The ILS market emerged following the School at the University of devastating damage of Hurricane Andrew, which hit Florida in Pennsylvania. The Center is recognized worldwide as a leader 1992. Hurricane Andrew was the costliest natural disaster in U.S. in risk-related research and policy history at the time and remained so until it was surpassed by analysis and serves as a bridge Hurricane Katrina in 2005. Following the storm, there was an between scholars at Penn and insufficient supply of reinsurance to cover coastal catastrophe organizations and decision-makers in the public and private sectors. risk. This led to increased development of tools that use the Our primer series provides an financial markets for enhancing risk transfer. introduction to topics in risk and resilience. Catastrophe bonds are the most well-known type of ILS to transfer catastrophe risk to capital market investors and the second-largest according to volume.2 The first catastrophe bonds were issued in the mid-1990s and the market has been steadily growing since that time.
    [Show full text]
  • Insurance-Linked Securities Market Update
    Insurance-Linked Securities market update Volume XXIX, August 2018 2 Swiss Re Insurance-Linked Securities market update – August 2018 Table of contents Introduction 03 New issuance 06 Trading and relative value 11 Swiss Re Global Cat Bond Total Return Index 17 New sponsors 18 Deal Focus: Pacific Alliance 19 Sector data 20 Swiss Re Insurance-Linked Securities market update – August 2018 1 2 Swiss Re Insurance-Linked Securities market update – August 2018 Introduction The first half of 2018 demonstrated once again that the Insurance-Linked Securities (ILS) market is effective in providing re/insurance protection, even in years following frequent and sizeable catastrophic events. Estimates reported by Swiss Re Institute’s sigma placed insured losses for global natural catastrophe events at USD 136.06bn in 20171, an 186% increase from USD 47.56bn insured losses in 2016. During 1Q, USD 3.28bn of 144A notes were issued across six transactions covering extreme morbidity, earthquake and US multi-peril. The historically strong 2Q saw USD 4.029bn notional issued across 14 separate transactions, mostly covering US multi-peril, or state-specific wind coverage, leaving 1H 2018 with a total of USD 7.309bn in new issuance. As investors patiently awaited loss developments for the latter half of 2017’s catastrophic US hurricane and wildfire events, appetites were uninhibited by potential losses and investors continued to allocate capital to ILS at a relatively stable price during the first half of the year. Along with seasoned sponsors, five new sponsors sought ILS coverage to help close the protection gap or complement traditional reinsurance in 1H 2018.
    [Show full text]
  • 2010 CSR Report, We Used the Global Reporting Initiative (GRI) G3 Sustainability Guidelines
    2010 Corporate SoCial RepoRt reSponSibility MAkINg ThE Most Of OuR iMpaCt on the world t his marks the fourth Corporate Social Responsibility (CSR) report since BNY Mellon formally launched its current commitment to corporate citizenship in 2007. While our CSR initiatives continue to evolve and, in many cases, intensify, our overriding goal remains the same: to choose where we can make a strong, positive impact on the world — and then make the most of that impact. this commitment is centered on our core values of Client Focus, trust, teamwork and outperformance. our people are involved in the CSR program at every level, from the Board of Directors, which has created an oversight committee for all CSR initiatives, to individuals in operations around the globe. Year over year, we have seen steady increases in the number of employees actively engaged in CSR activities. through focus and a continued commitment to strong CSR performance, BNY Mellon has been able to achieve impressive results. this report provides a detailed overview of BNY Mellon’s CSR program for 2010. All of our company’s reporting follows Global Reporting Initiative (GRI) guidelines as detailed in the GRI Index. Looking ahead, BNY Mellon will continue working to enhance its CSR program. We will work to increase awareness among stakeholders, and we will continue to report on the challenges, progress and success of BNY Mellon’s standing commitment to make the most of our impact on the world. a Message froM our ChairMan and CEO 3 our CoMPANY 4 2010 CSr SnapShot 5 our Corporate
    [Show full text]