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The total cost for the program increased 1.8% from last year’s. -
Its 2025 programme exhausts at $9.5bn excess $1bn.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
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The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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The carrier increased premium by 7% at the January renewals.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
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The firm ceded $417mn of premiums to the sidecar in 2024.
