November 2022
Contents
A world leader in climate risk management
David Hart, chief executive officer of the Bermuda Business Development Agency, explains why the agency was proud to represent the jurisdiction at the 27th United Nations Climate Change Conference in Egypt.
The UN’s collaboration with insurers in this ‘decade of action’
Butch Bacani, head of UN Environment’s Principles for Sustainable Insurance, outlines the programme’s “master narrative”.
High IQ: leading Bermuda’s new reinsurer
IQUW launched in July last year with a clean balance sheet and a focus on a global portfolio, diversified by geography and segment. Stephen Young of IQUW Bermuda outlines his strategy.
Shine a light: Bermuda and climate risk finance
David Hart, chief executive officer of the Bermuda Business Development Agency, describes the enhanced role Bermuda can play in tackling the challenges of climate change.
Global Shield against Climate Risks: a solution fit for COP27
The InsuResilience Secretariat explains to Bermuda:Re+ILS how the initiative, “Global Shield against Climate Risks”, heralds progress in climate adaptation and resilience.
Joining the dots: how to link policy, projects and finance
Sarah Conway, head of WTW’s Ecosystem Resilience practice and former lead climate finance negotiator for the US delegation to the UN Framework Convention on Climate Change, spoke to Bermuda:Re+ILS about her role.
Aviva calls insurers to action on climate change
In her keynote speech at The Geneva Association’s Climate Change & Environment Conference, Amanda Blanc, group CEO of Aviva, urged insurers to make a commitment to net zero.
Sixth sense: tuning into the science of climate risk
Jim Skea, professor of sustainable energy at Imperial College London, presented the findings of the Intergovernmental Panel on Climate Change’s sixth assessment cycle to delegates at The Geneva Association’s Climate Change & Environment Conference.
Talking point: the role of insurance in climate risk
Jad Ariss, managing director of The Geneva Association, highlights the core messages from its Climate Change & Environment Conference.
New era: insurers for decarbonisation
Maryam Golnaraghi, director of climate change and environment at The Geneva Association, opened the organisation’s 2022 Climate Change & Environment Conference with an urgent message and gave Bermuda:Re+ILS an insight into her upcoming research papers.
A sense of urgency on ESG
Bermuda’s re/insurers are discovering a sense of urgency around ESG benchmarks: PwC.
Developing a sustainability strategy: five key stakeholders to consider
Insurers can develop and execute a comprehensive ESG strategy, say Meredith Jones and Theodore Potgieter of EY.
Limited claims activity amid inflationary pressures for LatAm
Political risk remains a key factor for reinsurers domiciled in the region: Eli Sanchez and Guilherme Monteiro Simoes of AM Best.
Baden-Baden
Reinsurers—and climate activists—meet again in Baden-Baden
Reinsurers who gathered in Baden-Baden last month were keen to reconnect in person after several years of operating virtually. Climate activists were also keen to connect with them, with COP27 just a few weeks away.
Think globally on renewals: AXA XL Re
The re/insurance sector is facing a myriad of challenges, the complexity of which it has rarely seen before: cat losses in almost every continent this year, inflation, social inflation, economic turbulence, and geopolitical uncertainty.
Ariel Re seeks an added dose of contract clarity
Ariel Re went to Baden-Baden with a taste for property-cat and room in the book for more European risks.
Don’t bank on new ILS capacity ahead of the year-end renewal: Hiscox
It seems increasingly unlikely that new ILS capacity will enter the market ahead of the year-end renewal, leaving cedants to fight it out for limited traditional capacity.
Bermuda—LIFE
Spurt alert: Bermuda’s life reinsurance reached $539bn in 2021
US life insurers cede more than a half a trillion dollars in annual premiums to Bermuda’s long-term reinsurers, according to a new study by Alirt Insurance Research.
Bermuda—ILS
Reduce, reuse, recycle: how to use capital efficiently
The spectre of trapped capital has heightened the desire for efficiency, according to a panel discussion during ILS Bermuda’s Convergence conference.
R-E-S-P-E-C-T (find out what it means to investors)
The organisers of a discussion about what makes investors commit to ILS chose a song by The Clash to make their point. It could just as easily have been Aretha Franklin’s anthem about respect to remind ILS managers not to take that commitment for granted.
Thinking inside the box: parametric risk and ILS
ILS Bermuda’s Convergence conference discussed parametric protection from four perspectives: buyer, seller, intermediary and public sector.
