Industry News  Opalesque Round Table Zurich Series'12
Source:
Opalesque
- Tuesday, November 27, 2012The Opalesque 2012 Zurich Roundtable brought together eminent Swiss based investors, alternative investment managers and industry
experts, who offered their views and in depth knowledge on a range of questions.
Read more... Insurance: sector of the year?
Source:
Credit Research Bank Sarasin
- Thursday, October 25, 2012Despite the challenges faced by the financial industry, the European insurance sector has been the best performing investment grade sector so far in 2012.
Read more... Solvency II offers interesting investment opportunities
Source:
Investments & Pensions Netherlands
- Monday, August 13, 2012Insurance-linked securities are not the only insurance related investment opportunities. Twelve Capital believes that subordinated bonds issued by European insurance companies are an attractive fixed income investment opportunity.
Read more... Seizing an opportunity
Source:
B2B
- Monday, June 04, 2012In this article, Urs Ramseier, Chairman and Portfolio Manager at Twelve Capital, expresses his views about the current attractiveness of subordinated insurance bonds.
Read more... Panel discussion on Insurance-Linked Securities
Source:
Schweizer Versicherung
- Tuesday, May 29, 2012
In this article and panel discussion Martin Bisping, Head of Non-Life Risk Transformation at Swiss Re, and Daniel Grieger, Partner at Twelve Capital, express their views on the current attractiveness of ILS.
Read more... A new capital insurance protection
Source:
Schweizer Versicherung
- Tuesday, April 10, 2012With the introduction of Solvency II, the insurance industry is expanding its capital base by issuing bonds which convert in a crises automatically into equity. Insurers have made first experience with perpetuals.
Read more... Hybrid bonds – pleasure or pain?
Source:
Institutional Money Institutional Investors Portal
- Tuesday, December 20, 2011Basel III and Solvency II cause subordinated bonds of banks and insurance companies to no longer qualify for Tier I and Tier II-capital. This creates investment opportunities.
Read more... European insurance, round II
Source:
Credit Research Sarasin
- Monday, December 12, 2011• Credit markets still largely underestimate the relative robustness of insurers
• The recent outperformance of subordinated insurance versus bank debt will continue
• Senior insurance bonds are also attractive versus bonds of non-financial corporations
Read more... Catastrophic year is a signal to buy
Source:
IPE November 2011, p.92 Daniel Grieger, Kristina Poliakova
- Thursday, November 03, 2011The asset class of insurance-linked securities (ILS) has withstood the financial crisis well and more pension funds are beginning to realise that ILS can be a source of attractive returns with little correlation to other asset classes.
Read more... Investors prefer private ILS to cat bonds - Twelve Capital
Source:
Thomson Reuters ILS Communities site
- Tuesday, September 27, 2011LONDON, Sept 27 (Reuters) - Any future growth in the Insurance Linked Securities (ILS) sector will be in private reinsurance deals rather than the catastrophe bond sector which does not offer sufficiently high returns, according to ILS investor Twelve Capital.
Read more... Short-lived Perpetuals - Kurze Ewigkeit
Source:
Handelszeitung, Urs Aeberli
- Thursday, September 08, 2011Subordinated bonds issued by insurance companies are currently traded at considerable discounts. Thus, these instruments offer truly attractive current yield levels. In addition, the advent of Solvency II is expected to trigger the redemption of subordinated debt due to a lack of solvency recognition under the new regime. As such repayment of debt will be made at par, the transition to Solvency II creates additional return potential for subordinated debt.
Read more... Insurance-linked securities as an asset class for pension funds
Source:
Institutional Investment, Asset Management Portal
- Monday, July 18, 2011The asset class of Insurance-linked Securities (ILS) is becoming more popular and ever more pension funds are using its advantages. The most recent natural catastrophes have even increased the appeal of this asset class.
Read more... Eight good reasons (at least) to buy European insurance bonds
Source:
Credit Research Sarasin
- Wednesday, June 15, 2011European insurers have been remarkably resilient throughout the crisis and appear better positioned than banks to cope with the current challenges. Yet, relative valuations have cheapened, making insurers’ bonds particularly attractive.
Read more... A Primer on Insurance-Linked Securities
Source:
GesKR 2010, 503 f.; Dike Verlag
- Monday, February 07, 2011Christoph Buerer, Partner of Twelve Capital, reviews the drivers behind the emergence of insurance-linked securities (ILS) and elaborates on the workings of ILS, placing a special emphasis on the general legal framework within which ILS operate.
Read more... Catastrophe bond market attracts new investors - Further growth expected in 2011
Source:
Munich Re, Press release
- Tuesday, January 25, 2011The market for catastrophe bonds has grown in 2010 and will continue to expand this year. The volume of newly issued catastrophe bonds is likely to be in the region of US$ 5.5–6bn in 2011. Thus the amount of new issues will again exceed that of maturing bonds so that the volume of outstanding bonds will increase.
Read more... Overall picture of natural catastrophes in 2010
Source:
Munich Re, Press release
- Monday, January 03, 2011Several major catastrophes in 2010 resulted in substantial losses and an exceptionally high number of fatalities. The overall picture last year was dominated by an accumulation of severe earthquakes to an extent seldom experienced in recent decades. The high number of weather-related natural catastrophes and record temperatures both globally and in different regions of the world provide further indications of advancing climate change.
Read more... About “PIIGS” and the Elephant
Source:
Neue Zürcher Zeitung Guido Fürer und Jérôme Haegeli
- Friday, December 17, 2010The regulatory frameworks “Solvency II” and “Basel III” do incentivize banks and insurance companies to increase their holdings of sovereign debt. This is problematic, given the debt crises of many countries.
Read more... Hybrid bonds issued by banks as a profitable niche
Source:
Neue Zürcher Zeitung Martine Wehlen-Bodé
- Tuesday, October 26, 2010Risk conscious investors can profit from the advantages of outstanding bonds – before the rules change. The upcoming change of regulation of the banking sector offers investors the possibility to take profit from return possibilities of outstanding hybrid bonds issued by banks. Future new bond issues will have a higher risk profile.
Read more... Implementing ILS in a diversified pension fund portfolio
Source:
Institute of Insurance Economics, University of St. Gallen
- Monday, October 04, 2010Why are ILS emerging as an own asset class next to other asset classes such as bonds, equities, hedge funds or commodities? What is the best way to approach ILS as an investment topic? How should a pure ILS portfolio be managed in order to generate sustainable returns? The purpose of this article is to address these kinds of questions and to focus on ILS from an investor’s perspective.
Read more... Natural Catastrophe Risk - Cats land on their feet
Source:
Investments & Pensions Europe (IPE) Martin Steward
- Thursday, September 02, 2010Catastrophe risk delivered positive returns in 2008 amid rising downside correlation but was not immune from credit exposure, finds Martin Steward
Despite journalists’ clichés about “financial storms” and “seismic shocks to the economy”, there is no scientific evidence that volatile financial markets cause hurricanes or earthquakes (or vice versa). That is why underwriting re-insurance or buying bonds that capitalise such re-insurance seems so robust as a diversifying investment. Sure enough, through 2008 insurers continued paying premiums and returns from cat risk finished the year positive.
Read more...
|