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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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The final pricing has settled toward the midpoint of the initially guided range of 225-250bps.
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Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.
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The new global bond fund can take a ‘marginal allocation’ to cat bonds.
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The carrier’s Armor Re deal upsized by 33%.
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The bond will cover named storms, North American earthquakes and European windstorms.
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The World Bank-backed deal is structured with a parametric trigger.
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Managers have tightened buffer terms and added extension spreads to enhance illiquid strategies.
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The reinsurer said it hopes to grow the size of the $13.75mn deal over time.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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Sums insured for European windstorm increased by 10.1% due to inflation.
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The value of White Mountains’ stake in the ILS manager grew last year despite the firm shrinking its holding.
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The fund is a continuation vehicle for five of HSCM's life insurance interests.
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The firm, one of three major reinsurance fronts, said it would manage run-off in an orderly way.
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The platform’s ILS holdings comprise cat bonds and UCITs funds, and were up 8% over January and February.
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The organisation has received 11,527 claims to date.
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The pension fund handed an ILS mandate to Hiscox in September 2023.
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GeoVera’s MGAs will sell to SageSure and insurance companies will merge with SafePort.
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The carrier of last resort is proposing total risk transfer of $5.5bn.