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The carrier of last resort is proposing total risk transfer of $5.5bn. -
Retained earnings resulting from reduced loss activity also helped to boost ILS capital.
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The coverage will be for named storm and quake.
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The former Ledger director was joined by fellow ex-Ledger employees to “hit the ground running”.
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The sponsor’s debut cat bond upsized by 25%.
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The bond is the second transaction from the sponsor to target per occurrence coverage.
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The syndicate snatched the number one spot from Chaucer’s Syndicate 1176.
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Market conditions have begun to soften.
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The group has also scaled back holdings with AlphaCat’s Soteria Fund.
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The mega bond has upsized to more than twice its initial target.
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The firm said it was poised to build on ‘significant growth’ in 2023.
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The bond offers named storm coverage in Florida.
