Collateralised reinsurance
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Managers have tightened buffer terms and added extension spreads to enhance illiquid strategies.
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The bond will provide protection against Japanese flood and quake events.
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The bond will insure against named storms in eight US states.
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The firm has integrated a trustee bank API into the RUDDR platform.
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The deal is a large expansion on last year’s cat-bond coverage.
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The $175mn bond is priced lower than the original range set out in January.
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Pricing on Class A notes has reduced for a second time.
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The health insurer now expects to secure the lowest-risk tranche of its health bond for under a 3% spread.
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Improving the speed and efficiency of settlements is required to help the market grow.
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Allstate has expanded the size of the bond twice, now reaching $400mn.
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The bond will provide protection from named storms in Florida for three years.
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The bond provides protection for North American named storms and earthquakes.
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The amount offered in Class A and B notes has also expanded slightly.
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The three-year instrument provides cover for US named storms and earthquakes and European windstorms.
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Pricing guidance is currently at 6.75%-7.50% for the Class A notes.
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The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.
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With fundraising still difficult outside the liquid ILS segment, managers are looking for ways to shore up their economic proposition.
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The carrier has also narrowed the pricing on its Class A and Class B notes.
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The bond’s price guidance is between 6.00% and 6.75%.
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The pair are seeking $125mn in coverage for named storms across eight US states.
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The new offering is structured to solve ongoing ILS market problems including trapped capital, extended settlement times, economic inflation, social inflation, non-modelled risks and pricing uncertainty.
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The InsurTech has moved its pricing for the instrument to the top of its initial range.
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The transaction builds on a $1.15bn first-of-its-kind hybrid bank and ILS capital deal in April last year.
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