Rates
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The research found that commercial insurance prices rose by just over 2 percent in aggregate in Q1.
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The size of the Integrity Re coverage may shrink to $50mn.
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The company is now targeting $250mn for its latest cat bond, which is being issued in the UK.
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The Floridian insurer has reduced the target size of the deal from $75mn to $70mn, as spreads on the transaction have risen 23-24 percent year on year. -
The deal will take the organisation’s cat bond cover up to $1bn including past transactions.
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Rising Jebi losses will contribute to a squeeze on capacity.
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Issuances from United Insurance Holdings, American Integrity Insurance Company and Safepoint have all reflected an uptick in pricing compared with prior-year benchmarks.
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The insurer increased its participation at the Japan renewals in April.
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The cover was raised across five tranches.
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Both tranches of Fema’s $300mn FloodSmart Re cat bond have priced at the upper end of the initial guidance.
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The state is “still a cash cow for reinsurers” as over the past decade the Florida reinsurance combined ratio has been running at 79-80 percent, according to the analysts.
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