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The latest Kilimanjaro Re, 3264 Re and Gateway Re deals all priced. -
Cat bond spreads stabilised as maturities brought capital to deploy into the market, after an earlier spike.
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Grenada and St Vincent and the Grenadines are under the most threat from the storm.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.
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The broker said it did not anticipate a slew of new entrants, with the possible exception of casualty start-ups.
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DeCaro is one of the cohort of pioneering ILS managers.
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The broker said the mid-year reinsurance renewals benefitted from “more than ample” capacity.
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The bond will provide named storm coverage on a county-weighted industry-loss basis.
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The bond’s pricing for southern US storms landed at the upper bound of guidance.
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The bond is offering investors a midpoint multiple of 5.5x.
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The bond is seeking coverage for any named storm or earthquake event.
