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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low. -
The sponsor has $200mn of cat bond protection maturing in December this year.
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The firm said this was due to planned returns of capital to ongoing investors.
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Cassis joins from Swiss Re, where she was a senior ILS structurer since February 2022.
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Brant Loucks is one of four promotions across the Capital Partnerships and reinsurance units.
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Total yield is down from 11.18% in the last week of October 2024.
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Widespread underinsurance and low exposures will limit losses.
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Covea’s Hexagon IV Re deal priced 13% below the initial target on a weighted average basis.
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Since 2007, the Caribbean country has received $100.9mn in payments from the CCRIF.
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Total gains for the year reached 7.71%.
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Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
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Many commercial risks will have London coverage, but insured values are relatively low.
