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The firm will also act as sub-adviser to the Brookmont ETF cat bond fund. -
The company no longer has any exposure to reinsurance contracts.
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Everest is in the process of transforming its ILS offering.
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Full year 2023 set the record to beat of $15.8bn in new issuance volume.
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The top quartile, which includes Nephila 2357, were set to shrink overall.
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The bond will provide multi-peril coverage in the US and District of Columbia.
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The pricing multiple on the deal is 12.1x the sensitivity case expected loss.
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Beazley returned with its second Fuchsia cat bond issuance.
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The scheme’s ILS allocation has held steady at 0.7% of the total fund.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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Management track record has been a factor in capital raising for 2025.
