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Insurance penetration varies, but hotels have “near-total” coverage and strong limits. -
The ILS start-up was founded in January by Hanni Ali and Peter Dunlop.
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Pre-tax income at the vehicle was $30mn in the first nine months of 2025.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The firm said this was due to planned returns of capital to ongoing investors.
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Cassis joins from Swiss Re, where she was a senior ILS structurer since February 2022.
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Brant Loucks is one of four promotions across the Capital Partnerships and reinsurance units.
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Widespread underinsurance and low exposures will limit losses.
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Since 2007, the Caribbean country has received $100.9mn in payments from the CCRIF.
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Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
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Many commercial risks will have London coverage, but insured values are relatively low.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
