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The number of structures damaged may put the event on par with the fires of 2017 and 2018.
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The company’s stock price has plummeted in the wake of the LA wildfires.
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Total economic and insured losses are “virtually certain” to reach into the billions.
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Plenum said impact is marginal because wildfire contributes only marginally to the risk of bonds.
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The ILS manager analysed 16 UCITS fund portfolios to compare risk levels.
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The vehicle is smaller by 8% as White Mountains’ participation grew.
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The reinsurer is seeking annual aggregate cover against earthquakes and second-event named storms.
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The sponsor has expanded its target deal size compared with a year ago.
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The first cat bond deal from the carrier achieved its target size of C$150mn.
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The reinsurer is seeking index-based cover for a wide scope of perils and territories.
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The deal is split into two tranches compared with the single note issued last year.
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