Popkin spent nearly eight years co-leading the capital markets businesses at JLT and Towers Watson, where he and Miller pioneered the development of private placement catastrophe bonds
. Previously, Popkin worked in investment banking and energy.
In addition to the Parametric Insurance Program, the Department of Finance is also exploring a plan to sponsor a catastrophe bond
(Cat nond) to help bridge the financing gap
In addition to the Parametric Insurance Program, the Department of Finance (DOF) is exploring a plan to sponsor a Catastrophe Bond
(Cat Bond) to help bridge the financing gap the Government faces in the light of natural disasters.
In this paper we concentrate on catastrophe bonds
, which are nowadays the most used solution to hedge the risk of catastrophes through the capital markets.
"The catastrophe bond
market outperformed its benchmarks during the financial crisis, returning 2.6% in 2008," Bohm said.
* Detailed understanding of catastrophe bonds
as an alternative platform to transfer risk to the capital market.
structures, then as now, relied on full collateralization of the underlying risk transfer and offered protection only to a single client for a limited set of perils.
Anthony Travers, Chairman of Cayman Finance, said "This result comes at a time when Cayman has signed its 20th tax information exchange agreement." Cayman Islands Monetary Authority (CIMA) notes that Cayman still maintains US$1.795 trillion in deposits and interbank bookings and is the world's largest domicile for hedge funds, healthcare insurance captives and catastrophe bond
Summary: Munich Re has provided for the North Carolina Joint Underwriting Association and North Carolina Insurance Underwriting Association a US$305m catastrophe bond
transaction that transfers hurricane risk in North Carolina to the capital markets.
The catastrophe bond
market is weathering the effects of the global financial downturn while maintaining a strong issuance pipeline for the remainder of 2009, according to a briefing report by Guy Carpenter & Company, LLC, and GC Securities, a division of MMC Securities Corp.
issuance activity is not expected to revisit 2007's record-breaking levels, but the firm estimates that 2009 is on track to be the third-busiest year for cat bonds, according to a briefing by Guy Carpenter & Co.
Hannover Re acted as a "transformer," transferring $300 million of the NFIP's financial risk to capital markets investors by sponsoring the issuance of a catastrophe bond
through a special purpose reinsurer.
THE Philippines is seriously considering proposals, like the issuance of a catastrophe bond
(Cat bond), that could be included in the other insurance packages the Duterte administration is now exploring with Lloyd's of London and the World Bank to cover state assets, the Department of Finance (DOF) said.
The Department of Finance (DOF) is exploring a plan to sponsor a "Catastrophe Bond
" (Cat Bond) to help cover disaster-related risks in the Philippines and a separate offer of peso-denominated securities to offshore investors.
have announced the successful completion of a USD 5 million private catastrophe bond
transaction, the companies said.