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The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection. -
The firm said it was the first time a UCITS cat bond fund passed the $4.0bn mark.
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Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
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The fund was set up 18 months ago by cat bond investor Florian Steiger.
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Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
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This followed a $650mn fall in April, after management change of the fund.
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A total $225mn of fresh limit entered the market across two deals.
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The bond will provide protection for storms, quakes and fires in seven US states.
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The bond protects against losses in the US, Canada, Europe and Australia.
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The company also has $100mn for US hurricane events.
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The index provider revised up its return for March by 0.39 percentage points to 1.21%.
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The carrier previously raised a Finca Re cat bond in 2022.
