California
-
This comes in at the lower end of the initial spread guidance of 725-775 bps. -
PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
-
The California Earthquake Authority upsized its Ursa Re deal by 60% to $400mn.
-
The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection.
-
Up to nine million acres of US land are considered likely to burn.
-
The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
-
The ILS market has won market share at the top of programmes as buying expands.
-
The bond is offering a spread range of 850-925bps.
-
Ark's combined ratio included 25 points of catastrophe losses in Q1.
-
The insurer has not decided whether to sell its Eaton subrogation rights.
-
Richard Pennay also addressed the dip in cyber ILS activity.
-
An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
