Catastrophe risk and insurance-linked securities

• Non-NatCat insurance-linked securities: Identifying market opportunities for diversifying perils

  By Aaron C. Koch | 28 November 2017

  This paper, the first in a three-part series, provides an overview of non-NatCat insurance-linked securities.

• Surveying the damage: The impact of Harvey, Irma, and Maria on the alternative capital market

  By Aaron C. Koch | 31 October 2017

  In the wake of Hurricanes Harvey, Irma, and Maria, the property and casualty insurance and reinsurance markets are positioned to step in and provide perhaps the largest series of storm-related payouts in history.

• How alternative capital is shaping the global reinsurance industry

  By Karl Goring | 31 August 2017

  The infusion of alternative capital into catastrophe reinsurance has reshaped the market and continues to ripple through the industry as it expands to include new structures and cover new perils.

• Reviewing Hurricane Matthew: Wide-reaching economic impacts, but unlikely to shake the reinsurance and ILS markets

  By Aaron C. Koch | 11 October 2016

  It is worth considering what impacts Hurricane Matthew may have on the insurance-linked securities market and on alternative capital investors more generally.

• Rise of private ILS creates valuation complexities

  By Aaron C. Koch | 23 June 2016

  Growth in insurance-linked securities has increasingly come from private transactions that closely resemble traditional reinsurance business, but these contracts and structures can be more difficult to value.

• Measuring the impact of “locked collateral” on collateralized reinsurance returns

  By Aaron C. Koch | 22 April 2016

  Collateralized reinsurance has become an essential tool for catastrophe-focused investment managers (insurance-linked securities managers).

• Life ILS: 2015 year in review and looking ahead to 2016

  By Alan J. Routhenstein, Steven I. Schreiber, Stuart Silverman | 02 March 2016

  In 2015, we saw an evolution in the reserve financing structures to comply with Actuarial Guideline XLVIII (AG48), and we saw more uniformity in regulatory approvals for such AG48 financings than ever before.

• A game of cat and nous

  By Aaron C. Koch | 27 December 2015

  The insurance-linked securities market is starting to focus on bringing new types of risk and new sponsors.

• Insurance-linked securities (ILS) market explained

  By Aaron C. Koch | 10 December 2015

  Aaron Koch sits down with captive.com for a discussion on insurance-linked securities.

• A new model for weathering risk: CDOs for natural catastrophes

  By Aaron C. Koch | 13 May 2015

  Catastrophe risk markets can create a broader range of investment opportunities, including both very low risk, highly rated catastrophe instruments as well as low-rated, higher-yielding instruments, through the use of collateralized debt obligations.

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