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Bermuda is in a strong position to hold on to its insurance-linked securities business — despite attempts by the City of London to muscle in on the sector, ILS Bermuda chairman Greg Wojciechowski said yesterday. Mr Wojciechowski was speaking after a ...

A $100 million catastrophe bond to cover Turkey against earthquakes has been set up in Bermuda. Now the Turkish Catastrophe Insurance Pool (TCIP) plans to continue to build its relationship with the market. The Bosphorus Ltd bond provides reinsurance...

World leaders in the reinsurance business are set to descend on Bermuda for a major conference in November. ILS Bermuda Convergence 2015 is expected to attract more than 300 delegates from around the globe. Greg Wojciechowski, chief executive officer...

The first-ever China catastrophe bond has been set up in Bermuda. The $50 million Panda Re bond, listed on the Bermuda Stock Exchange (BSX), will be used by sponsor China Re to cover earthquake losses across the mainland People’s Republic of China. B...

Scenarios with all the ingredients of a Hollywood disaster movie are now being covered by the insurance-linked securities (ILS) market. From volcanoes and earthquakes rocking New York, Boston, and Washington DC, to a large space rock devastating part...

Major flooding in southern regions of the US and parts of Australia, a killer heatwave in India and a powerful earthquake in Nepal were among the costliest catastrophes in May. Texas and Oklahoma endured the wettest May on record, with flooding hitti...

The UK government has set up a special task force to snatch lucrative catastrophe bond insurance-linked securities business from Bermuda. The British Government — then a Conservative/Liberal Democrat coalition — signalled in its budget last March tha...

By Raymond Hainey An increase in storm frequency should force a fresh look at risk from severe weather, according to a new report. The Swiss Re Sigma report on 2014 said that cyclones and thunderstorms were a major cause of losses last year. And the ...

Britain has launched a bid to muscle in on Bermuda’s money-spinning insurance-linked securities business. Bermuda is a leader in insurance-linked securities (ILS) — but yesterday UK Chancellor of the Exchequer George Osborne signalled that Britain wo...

Bermuda is streaking ahead in the global ILS market, with the Island issuing $7.7 billion of during 2014. By comparison Cayman Islands saw only $0.7 billion of issuances and Ireland had $0.4 billion. The global stock of ILS at the end of 2014 was wor...

Economic losses caused by storms, earthquakes and other natural catastrophes easily topped $1 billion in January, according to estimates by Aon Benfield. Four windstorms in Europe and a powerful Nor’easter in the northeastern region of the United Sta...