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Hurricane Milton will show the ILS product behaving as investors expect it to.
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Collateralised reinsurance and retro are in the firing line.
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The firm’s deals so far have covered cat risk, with space ILS in scope for the future.
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The ILW specialist is believed to be exploring new opportunities.
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Increased ILW purchasing reflects cash-rich funds looking to protect return levels.
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Typical ILW attachment points for US peak perils have fallen from $60bn to $40bn-$50bn as the market awaits the final Hurricane Ian number from PCS.
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The investment firm said cat bond spreads that are elevated relative to historical levels continue to offer an attractive entry point for investors.
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The deal was brokered by Gallagher Re and provides US cyber insurance event protection.
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In its semi-annual report for the six months to 31 July 2023, the manager said the fund had returned 2.74% over the half-year.
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The bond provides coverage for North America storms and earthquakes, as well as European windstorms.
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The Swiss direct risk transfer platform will use the funds to help grow its team and develop products.