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The broker anticipates strengthening investor demand for collateralised re.
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Over-subscriptions have been evident on well-priced US cat treaties.
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The UCITS cat bond segment has added 54% in AuM since Hurricane Ian.
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Some $1.2bn of limit was placed in the cat bond market this week.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The $600mn fund could allocate up to 10% of assets to cat bonds from 2025.
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The carrier has raised $75mn of higher-risk Class C coverage.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
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The company no longer has any exposure to reinsurance contracts.
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The Class A and C notes increased in size, while the Class B note remained unchanged.
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MMIFS Re is the debut cat bond offering from the Canadian carrier.
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Mapfre Re CEO Miguel Rosa was “very satisfied” with the debut cat bond deal.