-
The deal will expand the region and perils covered by Merna Re bonds.
-
The ILS market’s exposure could grow to $1.5bn by the time a major cyber cat event occurs.
-
The fund has nine open contracts it is actively trying to run-off, four years after its failure.
-
The fund has a strong focus on cedant quality and transaction structures.
-
Pricing increased by 28% on the Class A notes and 22% on the Class B notes.
-
The carrier has previously tapped capital markets with Cape Lookout Re transactions.
-
The carrier currently has $1.15bn of Merna Re cat bond limit on risk.
-
The coverage will be indemnity, annual aggregate for Florida named storm.
-
As a result of mostly flooding, £474mn of losses occurred in the UK.
-
The Class A notes priced well below the midpoint of initial guidance.
-
Researchers expect 15-20 named storms to form in the Atlantic Basin.
-
This follows February’s cat losses coming in below the $150mn reporting threshold.
Most Recent
-
PFZW’s ILS allocation drops 9% in Q1 to $8.3bn
18 April 2024 -
Zenkyoren secures $150mn of Japanese quake coverage
17 April 2024 -
Aspen and Pimco launch Bermuda casualty sidecar Pando Re
16 April 2024