Canada
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The estimate covers property and vehicle claims. -
Up to nine million acres of US land are considered likely to burn.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
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The pension plan has been allocating to ILS since 2005.
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The role oversees the $187bn Canadian pension plan’s ILS allocation.
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The storm is likely to be one of the costliest weather events in Canadian history.
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Peril- and geography-specific deals are being well received by investors.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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Total economic losses were $368bn, 14% above the 21st century average.
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The estimate has reduced slightly since the modeler’s last update in October.
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The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
