Wildfire

The class C notes are being offered with an initial guidance of 525-575 bps.

The Kincade Fire in Sonoma County, the Simi Fire in Ventura County and the Getty Fire on the outskirts of Los Angeles are almost extinguished.

As many as 374 structures had been destroyed, 60 had been damaged and 405 remained threatened.

It will be many months before the $11bn payout agreed between Pacific Gas and Electric Company (PG&E) filters through to the (re)insurance and ILS markets, with this lump sum likely to benefit some parties more than others.

Emergency services are attempting to stop one fire from spreading to valuable avocado and citrus orchards nearby.

CoreLogic exposure data suggested homes worth hundreds of millions were at risk.

Wildfire recoveries benefitted DaVinci investors and RenRe's retro partners in Q3.

At this stage, destroyed property numbers remain well below the thousands impacted in the major 2017-2018 fires.

Firefighters have made some progress containing the Tick Fire in Southern California, but high-value suburbs have been evacuated due to the Getty Fire.

Around 80,000 properties remain under threat from the fire, which is only 5 percent contained.

Thousands have been evacuated from their properties as wildfires break out in Sonoma County and Los Angeles County.

The significant pricing difference between the reinsurance and retrocession markets does not make a lot of sense, TigerRisk president Rob Bredahl said.