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Standards and guidelines address institutional investors’ concerns over valuation risks. -
Company touts growing investor demand for Asian cat risks.
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Both the Class A and Class B notes increased in size.
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PFZW’s insurance allocation stood at $8.7bn as of year-end.
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The bond is split into five tranches, with two notes offered on a zero-coupon basis.
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Aetna, Inigo and GeoVera were the three sponsors seeking lower multiples.
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The index’s performance in November was stronger than the prior year, although YTD returns are behind 2023.
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The deal is split into two tranches compared with the single note issued last year.
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Spread guidance anticipates a lower multiple compared to 2024’s Vitality Re issuance.
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The broker anticipates strengthening investor demand for collateralised re.
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The Bermuda based entity is expected to continue on its “responsible growth trajectory”.
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The $600mn fund could allocate up to 10% of assets to cat bonds from 2025.
