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One William Street priced its debut cat bond 13% below the midpoint of guidance.
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Covea’s Hexagon IV Re deal priced 13% below the initial target on a weighted average basis.
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So far this year, there have been 11 first-time sponsors to place a deal.
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Spreads on USAA’s latest deal priced below comparative issuances in 2023-2024.
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Some $400mn of bonds priced in the past week, after a record-setting H1.
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Everest Re increased the targeted size of Kilimanjaro Re across all four classes of notes.
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The California Earthquake Authority upsized its Ursa Re deal by 60% to $400mn.
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Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
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A total $225mn of fresh limit entered the market across two deals.
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The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
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One dollar-denominated deal has opted to hold collateral in EBRC notes.
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Some $200mn of fresh limit entered the ILS market as $3.4bn of deals priced.
