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The reinsurer is seeking index-based cover for a wide scope of perils and territories. -
The deal is split into two tranches compared with the single note issued last year.
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The new agreement provides $40mn of aggregate limit excess of zero.
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Cat bond investors have earned a cumulative 39.6% over 2023 and 2024.
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Novelty premiums will likely fade once investors are more comfortable with the risk.
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Spread guidance anticipates a lower multiple compared to 2024’s Vitality Re issuance.
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The forecasts anticipate a large volume of maturities and rising sponsor demand.
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In the US, pricing fell by 6.2% at the major renewal.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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The manager’s Interval Fund returned 28.25% over the financial year.
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Cat bonds were a key supply-side driver at 1 January 2025.
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The broker anticipates strengthening investor demand for collateralised re.
