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American Integrity is seeking expanded limit on more favourable terms. -
FY24 disclosures show shifting fortunes at reinsurer ILS platforms.
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Peril- and geography-specific deals are being well received by investors.
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A negative January return will be unprecedented for ILS industry.
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Fermat stayed in the top spot surpassing $10.0bn for the first time.
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Secondary market pricing indicated anticipated California wildfire losses.
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As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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Aetna, Inigo and GeoVera were the three sponsors seeking lower multiples.
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Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.
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The forecasts anticipate a large volume of maturities and rising sponsor demand.
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First-time sponsor QBE secured $250mn of quake and storm coverage.
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Some $1.2bn of limit was placed in the cat bond market this week.
