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The largest individual net loss at EUR230mn was caused by Hurricane Milton. -
The bond was trading at around 12.3c on the dollar in the secondary market last month.
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Both carriers have extensive reinsurance coverage.
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This came as the market’s underwriting profit dipped 10% for 2024.
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Almost 300,000 people have been left without power from the storm.
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This loss number covers the property line of business.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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As of 14 February, the company received 405 claims.
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The London D&F market will shoulder most of the losses.
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The reinsurer pegged the market loss at $40bn.
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Dispersion of returns was high, with the range 0.87% to -3.71%.
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The programme structure was expanded, but it is unclear what percentage was placed.
