Collateralised reinsurance
-
The amount offered in Class A and B notes has also expanded slightly. -
The three-year instrument provides cover for US named storms and earthquakes and European windstorms.
-
Pricing guidance is currently at 6.75%-7.50% for the Class A notes.
-
The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.
-
With fundraising still difficult outside the liquid ILS segment, managers are looking for ways to shore up their economic proposition.
-
The carrier has also narrowed the pricing on its Class A and Class B notes.
-
-
The bond’s price guidance is between 6.00% and 6.75%.
-
The pair are seeking $125mn in coverage for named storms across eight US states.
-
The new offering is structured to solve ongoing ILS market problems including trapped capital, extended settlement times, economic inflation, social inflation, non-modelled risks and pricing uncertainty.
-
The InsurTech has moved its pricing for the instrument to the top of its initial range.
-
The transaction builds on a $1.15bn first-of-its-kind hybrid bank and ILS capital deal in April last year.
Most Recent
-
Hiscox Re & ILS allocation redeemed by Future Fund
30 November 2023 -
Hamilton Re seeks $150mn of retro coverage
30 November 2023