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Fidelis is seeking more cat bond cover than it did almost a year ago. -
Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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The latest clutch of offerings indicates pricing discipline in the bond market.
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Moderate impacts to ILS returns are anticipated from Hurricane Milton.
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Spreads at levels favourable to sponsors could power Q1 2025 pipeline.
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Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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Strong growth in fee income builds on the favourable rating environment.
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Cheaper traditional reinsurance as of mid-year may have dampened deal pipeline.
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The failure of a Jamaica bond to pay out following Hurricane Beryl damage has brought focus onto the deals.
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Some $409mn of volume entered the market in the week to 4 November.
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The low PCS number is presenting a challenge for ILW buyers and sellers.
