Plenum Investments
-
Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds. -
The strategy invests in subordinated bonds issued by European insurers.
-
The ILS manager expects “minimal, if any, losses” to bonds in its funds.
-
This is lower compared to 8.2% recorded by the index in H1 2023.
-
The parametric structure would have paid out at slightly lower storm pressure.
-
The manager’s conservative strategy posted returns of 7.61%.
-
The firm told investors yields in the cat bond market are 'still very attractive'.
-
The Zurich-based ILS manager has grown the fund by around 167% from $150mn as of mid-2021.
-
The 2020 bond provides $125mn of parametric, per occurrence coverage.
-
The fund is on course for its strongest year of returns since inception in 2014.
-
The Florida hurricane season still has three months to run in a predicted above-average year.
-
Hurricane Idalia will reach Jacksonville but will have weakened by then
Most Recent
-
Aon suggests key ILS-backed reinsurance programs will run clear
11 October 2024 -
Milton could cause losses between $20bn-$50bn: Twelve Capital
11 October 2024