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The loss figure has increased 200% from the initial number provided in October. -
This is the second time Fidelis has entered the cat bond market this year.
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The latest clutch of offerings indicates pricing discipline in the bond market.
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Other capacity supporting the syndicate is mostly individual Names, sources have said.
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Moderate impacts to ILS returns are anticipated from Hurricane Milton.
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Athena Re provides coverage against terrorism in France and its overseas territories.
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The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets.
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It is targeting $25mn GWP this year and $50mn GWP in 2025.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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The bond is targeting $225mn of limit across the Class A and Class B notes.
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