-
The prediction comes after a highly active hurricane season in 2024. -
The deal is split across four tranches, with the riskiest note Class D targeting $150mn.
-
The cat bond will initially cover named storms in Florida and South Carolina.
-
Market participants expect pricing will be flat to down through Q2.
-
The bond will provide protection against Louisiana named storm.
-
Fees on the GAM Star cat bond funds will drop in May in a recognition of fee competition in the market.
-
Markets have taken a battering across the globe following the “Liberation Day” announcement.
-
Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
-
The sponsor secured $240mn of limit as the bond upsized by 20% on its initial target.
-
Insurance share prices were more resilient than the US stock market.
-
Most of the ILS investments were made via the cat bond heavy High Yield Fund.
-
Palm Re will provide Florida named storm cat bond coverage for Florida Peninsula, Edison and Ovation Home Insurance Exchange.
