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The firm will provide an update on 22 November to avoid holiday season. -
September was the strongest performing month since the index began in 2006.
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Some $409mn of volume entered the market in the week to 4 November.
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The low PCS number is presenting a challenge for ILW buyers and sellers.
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Nephila revenues would likely have been higher, but for an ‘elevated climate signal’ this year.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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The figures imply first-layer reinsurance recoveries for Helene.
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The reinsurer is planning to drop its cession rate from 40% to 30%-35%.
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The four-year deal is split across three tranches of notes.
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The latest issuance offers a spread range of 650-700bps.
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The final price fell 14% from the initial midpoint price offered by the sponsor.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
