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The carrier attributed the intensification of storms this season to climate change. -
Pricing on the Class A and Class B notes settled below guidance.
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The bond will provide named storm and quake coverage.
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WTW sold Willis Re to Gallagher in 2021 for $3.5bn.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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The facility will also provide a dividend to clients for the first time.
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Management track record has been a factor in capital raising for 2025.
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Robert Salzmann has been with the Swiss Re insurer for a decade.
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Fidelis is seeking more cat bond cover than it did almost a year ago.
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The firm is understood to be reviewing contracts to bind coverage for 1 January.
