The British state reinsurance company, Pool Re, has released the world's first catastrophe bonds, the purpose of which is limited solely to protection against terrorist attacks,. The company said that the 3-year bonds in the amount of 75 million pounds with a coupon of 5.9% are placed through the SPV company Baltic PCC. Now, investors will be able to insure in the capital markets the risks associated with terrorism, with the help of bonds, payment of which will be made if the damage from terrorist attacks in the UK for 1 year will be above 750 million pounds. Catastrophe bonds that appeared in the market in the 1990s protected only insurers. Basically, it was a disaster protection. Later, however, they began to provide protection against cyber attacks.
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions. The ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more ...