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Sabine Re marks Allied Trust’s entry to the market. -
ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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The bond will provide named storm coverage in southern US states.
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All funds tracked returned a positive performance.
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Exposure updates played a greater role than expected.
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The bond offers earthquake cover for several European countries.
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The cover will include the 50 US states, District of Columbia and Canada.
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The bond is structured into four tranches of notes.
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Class A notes are priced at 1,400bps, Class B at 1,725bps.
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Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
