-
The figures imply first-layer reinsurance recoveries for Helene. -
The reinsurer is planning to drop its cession rate from 40% to 30%-35%.
-
The four-year deal is split across three tranches of notes.
-
The latest issuance offers a spread range of 650-700bps.
-
The final price fell 14% from the initial midpoint price offered by the sponsor.
-
The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
-
The loss tally is considerably lower than estimates issued by model vendors.
-
The pension scheme has been winding down its ILS portfolio in recent years.
-
Reserve risk specialist Enstar has struck its first deals in the ILS space this year.
-
The deal would represent a diversifying auto risk deal.
-
Pricing is expected to “stay neutral of soften” for January renewals.
-
The sovereign wealth fund’s ILS investments grew to $828mn.
