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The deal would represent a diversifying auto risk deal. -
The ILS allocation increased in dollar terms and held steady in euros.
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Managers expect Hurricane Milton losses to shore up pricing.
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Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.
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Florida domestics, aggregate retro and flood deals were all marked down.
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The ILS industry alumnus is understood to have two ILS investors lined up.
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Hurricane Milton will show the ILS product behaving as investors expect it to.
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This is a far narrower drop than post Ian, when the index was lost 10%.
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A $40bn Milton loss should barely dent many ILS returns but will trap some capital.
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Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred.
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Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds.
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Collateralised reinsurance and retro are in the firing line.
