Capital Markets

PCS Q1 2014 Catastrophe Bond Market Update: Trend Tracking

The ongoing shift in underlying catastrophe bond market  trends over the past year shows how dynamic the sector has become. Innovation, wider geographical reach, and increases in market participation continue to shape...

The Next Big Thing in Indemnity Triggers

As the first quarter comes to a close, it’s already clear that the 2014 catastrophe bond issuance year is starting off strong. It looks as though sponsors will complete around $1.2 billion in new transactions,...

Five Index Trigger Benefits for Catastrophe Bond Sponsors

In general, Property Claim Services® (PCS®) doesn’t have an opinion as to which catastrophe bond trigger is best. We believe sponsors should use the structures they feel align best with their risk and capital manageme...

PCS Catastrophe Designation in Indemnity-Triggered Catastrophe Bonds

Indemnity-triggered catastrophe bonds are increasing in popularity, but it’s clear that the insurance-linked securities (ILS) community wants some degree of third-party validation in them. The number of sponsors using...

PCS 2013 Year in Review: 5 Key Insights

Last year could have looked a lot different. Although catastrophe frequency in the United States was slightly above average, insured losses from those events fell just shy of $13 billion, putting the total well below...

PCS 2013 Catastrophe Bond Market Update: Trend Tracking

The growth and maturation of the catastrophe bond market in 2013 provide a sense of its direction in 2014. Rather than continued issuance increases for common risks (such as U.S. wind), it appears that the market has...

Catastrophe Bond Trend Watch: Q3 2013

With Rendez-Vous de Septembre behind us, a new set of trends has emerged for the catastrophe bond sector . Some that PCS has tracked since the end of 2012 remain, while new issues have inserted themselves firmly into...

On the Brink of Real-Time Risk Management

If you take the concept of insurance-linked securities (ILS) to its natural conclusion, you’ll wind up at real-time risk and capital management. The insurance and reinsurance community has discussed such a possibility...

PCS Post-Monte Carlo Briefing: 5 Hot Topics

The global insurance and reinsurance community descended on Monte Carlo last week for the annual gauntlet of 30-minute meetings that will shape the January 1, 2014, reinsurance renewal. As expected, the capital market...

Take Wildfire Risk to the Capital Markets

The Yosemite wildfire is spreading, according to AIR Worldwide . As of August 26, 2013, it had affected 225 square miles and destroyed 23 buildings. Another 4,500 buildings are at risk. The wildfire is likely to raise...