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Price guidance for the bond is 4.00%-4.50%. -
The platform’s aim is to support the ILS industry in ‘getting the marks right’.
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The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
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The fund was set up in 2015 to capitalise on higher post-event yields.
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Debut sponsor SV SparkassenVersicherung also secured its target size of $100mn.
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Wildfire losses from fronting and ILS activities were EUR438mn.
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The platform is based in Bermuda and will focus on strategic capital partnerships.
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Some $200mn of fresh limit entered the ILS market as $3.4bn of deals priced.
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The bond provides coverage on personal-lines property in Florida.
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The series one notes will provide protection to the benefit of Twia.
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Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
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The (re)insurer used alternative capital in the reinsurance coverage.
