-
The Class A and Class B notes are paying lower multiples than initially guided. -
Magnani has served for more than 14 years in ILS broking roles.
-
The ILS manager will “pragmatically accept” a degree of credit risk in deals.
-
Beazley returned with its second Fuchsia cat bond issuance.
-
The bond will provide coverage for named storm across five US states.
-
Former ILS investors who left the space have looked again and re-allocated.
-
The scheme’s ILS allocation has held steady at 0.7% of the total fund.
-
The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
-
Pricing on the Class A and Class B notes settled below guidance.
-
The bond will provide named storm and quake coverage.
-
The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
-
CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
