Ariel Re
-
The capital partners unit was launched via London Bridge 2 in Lloyd’s last year. -
The new commingled fund will target investors with $5mn or higher potential investments.
-
Cat bond funds continue to draw interest as private ILS more challenged.
-
ILS capital so far is viewed by sponsors as strategic rather than essential.
-
Market sources are speculating on the reasons behind the spread widening on index-based deals.
-
The consortium will offer up to $50mn of per-program capacity.
-
The reinsurance executive is returning to Ariel Re where she was among the firm's earliest hires in 2005.
-
The carrier becomes the first syndicate to use the new London Bridge structure.
-
The reinsurer said it wants to support disaster recovery in a way that reduces environmental harm.
-
Multiples on the transaction remain much higher than on prior Titania Re bonds.
-
The carrier is aiming to raise up to $125mn of retro cover from the transaction.
-
The bond’s two tranches will provide cover for named storm and quake in the US, District of Columbia, Puerto Rico, the US Virgin Islands and Canada.
