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Growth was driven by strong returns and new investors entering the market. -
Building better exposure datasets could draw a broader range of investors.
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The insurer currently has $300mn of reinsurance limit from cyber cat bonds.
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Quick-moving cat risk trading may become more prevalent in the ILS market.
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The timing is “opportune” to start the strategy according to Bennelong.
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Returns were down on 2023, which benefited from favourable Ian loss development.
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The firm predicts 2024 will be a record year for primary issuance.
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Florian Steiger’s strategy is seeking institutional capital for the Q4 primary issuance season.
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The firms’ partnership preceded Japan's first ‘megaquake’ warning.
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Several bonds suffered declines in value from February to July.
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The deal takes year-to-date cat bond lite issuance to $367.6mn
