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Climate change and other loss impacts were not adequately incorporated, sources said. -
The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
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The NCIUA had initially sought $350mn of limit.
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DaVinci equity plus debt stood at $3.25bn as of 31 December.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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UCITS fund diversification targets limit their capacity for US wind bonds.
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Pricing fell by 13.5% on a weighted average basis across deals that updated last week.
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Total combined losses for the agency’s Helene and Milton estimates stand at $31.8bn.
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Scrocca will be based in Bermuda on focus on underwriting and risk sourcing, among other things.
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The aim is to capitalise on cat bond market’s robust growth and US peril concentration.
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New limit of $474mn entered the market across two deals.
