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Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said. -
The bond went on watch after Mercury said it would exceed its $150mn retention.
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Models will need to steepen the curve in the tail to reflect severe event frequency.
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Non-proportional business accounted for 34% of its total.
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Both the Class A and Class B notes increased in size.
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The latest issuance will add extra cat bond limit, with a $100mn note still on risk.
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The figure does not include specie or auto losses.
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Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
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The platform will transform ILS transactions on behalf of Jireh and SRS clients.
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The firm will advise and support third-party risk capital providers.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
