Property
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The Dutch scheme is the largest ILS allocator with a long list of mandates within the sector. -
The multiple offered on the deal is around 2.5x the expected loss.
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The bond triggers on a parametric, per occurrence basis, across Class A and Class B tranches.
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Most of the insured loss was attributable to wind.
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Icosa said certain cat bonds could see more than 0.2 points of price movement.
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The company incurred $563mn of total cat losses related to the storm.
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The bulls expect around $20bn-$30bn in Milton losses, with the bears anticipating $40bn-$50bn.
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The estimate includes private cover for residential, commercial and industrial property.
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Plenum said wind damage from Milton could lead to “moderate” losses for its cat-bond funds.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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The hurricane is likely to prevent rate reductions in property cat in 2025.
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Roman Romeo was named CEO of Reinsurance Solutions in Bermuda in April this year.
