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The Bermuda-based team is led by John Fletcher. -
ILS offers efficient capital for underwriters, but casualty ILS transactions are complex.
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The Altamont-backed broker has been building out its team since launching in 2023.
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One dollar-denominated deal has opted to hold collateral in EBRC notes.
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Price guidance for the bond is 4.00%-4.50%.
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The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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Wildfire losses from fronting and ILS activities were EUR438mn.
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The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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The buzz in the air at ILS Connect told of a market entering its next growth phase.
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Investor interest and capital flows point to potential for ILS proliferation.
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The firm announced CEO Trevor Carvey will retire and is returning to the UK from Bermuda.
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The deal is 45% larger than 2024’s issuance after attracting a “greater number of investors”.
