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HCI secured three towers with $3.5bn in XoL coverage. -
The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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Property cat XoL rates were off by around 10% on average on a blended risk-adjusted basis.
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The ILS market has won market share at the top of programmes as buying expands.
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The cat bond limit total is an uplift of around 60% on the carrier’s 2024 bonds.
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As with 2024, pricing pressure has been most acute on top layers.
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The total cost for the program increased 1.8% from last year’s.
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Its 2025 programme exhausts at $9.5bn excess $1bn.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
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The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
