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The bond will provide named storm and quake coverage in the US. -
One dollar-denominated deal has opted to hold collateral in EBRC notes.
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The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
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Debut sponsor SV SparkassenVersicherung also secured its target size of $100mn.
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The headcount at the start-up now stands at around 40.
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Wildfire losses from fronting and ILS activities were EUR438mn.
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Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
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The (re)insurer used alternative capital in the reinsurance coverage.
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The total yield, inclusive of the risk-free rate, was down on the same period last year.
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CEO Thierry Léger expects overall P&C pricing to be “stable” through 2025.
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Fermat and GAM announced that the former will take sole control of the GAM FCM Cat Bond Fund.
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Investors want transparency from managers regarding the impacts of climate change.
