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The bond will provide multi-peril coverage in the US and District of Columbia. -
The pricing multiple on the deal is 12.1x the sensitivity case expected loss.
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Beazley returned with its second Fuchsia cat bond issuance.
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Former ILS investors who left the space have looked again and re-allocated.
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The scheme’s ILS allocation has held steady at 0.7% of the total fund.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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Management track record has been a factor in capital raising for 2025.
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The firm is understood to be reviewing contracts to bind coverage for 1 January.
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Losses from Hurricane Milton are expected to affect only select junior structures.
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The ruling indicated it was unlikely all claims would be dismissed, as defendants had requested.
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The fund will invest in listed and private transactions.
