-
CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
-
The Mexican cat bond offers $125mn of protection against Atlantic named storms.
-
The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
-
The deal is offering a multiple of 11.3x on the expected loss.
-
The bond offers a multiple of 11.3x based on a modelled expected loss of 0.93%.
-
The bond is offering a spread range of 950-1,050 basis points.
-
Portfolios of clients of varying size in the same region aggregate more risk.
-
Building better exposure datasets could draw a broader range of investors.
-
The insurer currently has $300mn of reinsurance limit from cyber cat bonds.
-
The July downtime will increase relevance, demand and innovation for the market.
-
The carrier estimates the total industry loss for the Microsoft/CrowdStrike outage at around $1bn-$2bn.
-
The broker said less than 1% of companies globally with cyber insurance were impacted.