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The new Marlon bond is offering multiples of 7.4x and 8.9x on the Class A and Class B notes respectively.
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Parent company Markel said the ILS manager’s performance was subject to a reporting lag.
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Sanders Re cat bond coverage attaches higher than last year at $5.46bn.
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The rise in ceded reinsurance premiums written impacted net premiums written.
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The Class D notes offer a spread of 1200bps with a multiple of 2.9x.
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Operating revenue at the ILS manager climbed 49% to $19.2mn.
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The firm’s AuM was down 17% on $1.8bn as of 31 December.
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The firm said it expects Capital Partners to continue to grow.
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The pair join from Validus Re and Axa XL.
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Performance fees soared by 605% to $27.5mn from $3.9mn in Q1 2023.
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Vincent Pomo spent more than 11 years at Everest Re in a variety of roles.
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The firm expects pricing and terms and conditions to hold.
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California is the initial covered area but, following a reset, all US states will be covered.
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The firm’s ILS unit expanded fee income by 10% over Q1 2023.
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The coverage will be annual aggregate with an index trigger for wind and quake.
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First event tower for the Northeast exhausts at $1.1bn, at $1.3bn for Southeast and $750mn in Hawaii.
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Overall economic losses hit $45bn in the first quarter of 2024.
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The pricing fell 13.7% on the Class A notes and 6.5% on the Class B notes.
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The carrier has completed its 2024-25 reinsurance renewal.
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ILS could benefit from focusing on the social aspect of ESG.
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State interference is likely to be required if an attack is large enough to trigger bonds now on the market, experts say.
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Diversification in perils and regions can help the market grow.
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The parametric bond provides coverage for named storms.
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Its Class 13 and 14 notes priced roughly at the midpoint of expectations.
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The practice aligns existing capabilities from Marsh Specialty and others.
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Panellists at the Insurance Insider ILS conference say forecasts can push capital to “the edges” of the market.
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The World Bank’s Michael Bennett was speaking at the Insurance Insider ILS conference.
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The awards event will be held on 27 June at The HAC, London.
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The consortium will offer up to $50mn of per-program capacity.
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The deal will expand the region and perils covered by Merna Re bonds.
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The ILS market’s exposure could grow to $1.5bn by the time a major cyber cat event occurs.
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The fund has nine open contracts it is actively trying to run-off, four years after its failure.
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The fund has a strong focus on cedant quality and transaction structures.
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Pricing increased by 28% on the Class A notes and 22% on the Class B notes.
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The carrier has previously tapped capital markets with Cape Lookout Re transactions.
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The carrier currently has $1.15bn of Merna Re cat bond limit on risk.
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The coverage will be indemnity, annual aggregate for Florida named storm.
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As a result of mostly flooding, £474mn of losses occurred in the UK.
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The Class A notes priced well below the midpoint of initial guidance.
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Researchers expect 15-20 named storms to form in the Atlantic Basin.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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ILS returned 3.2% for the scheme in the first quarter.
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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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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.