Aspen
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Pricing increased by 28% on the Class A notes and 22% on the Class B notes.
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Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.
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The bond will cover named storms, North American earthquakes and European windstorms.
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Fee income was up by 30% year-over-year to $136mn in 2023.
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The sidecars segment has been attracting inflows after returns hit a high note in 2023.
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AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.
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Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.
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The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
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The ILS business ‘continues to be an important differentiator’, says Aspen CEO Mark Cloutier
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John Welch left his role as CEO of domestic markets at Axa XL Re last year in a leadership reshuffle.
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The company said the result was "encouraging given the challenges of ILS capital raising".
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The managing director had spent eight years at Aspen before joining the ESG start-up.
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