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The deal is split across four tranches, with the riskiest note Class D targeting $150mn. -
The cat bond will initially cover named storms in Florida and South Carolina.
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Market participants expect pricing will be flat to down through Q2.
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The bond will provide protection against Louisiana named storm.
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Fees on the GAM Star cat bond funds will drop in May in a recognition of fee competition in the market.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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The sponsor secured $240mn of limit as the bond upsized by 20% on its initial target.
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Most of the ILS investments were made via the cat bond heavy High Yield Fund.
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Martin Bisping has moved to CRO and Bernard Bachmann was named CEO of SRILIM.
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Rachel Barnes Binnie joins as portfolio manager.
