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The ILS industry alumnus is understood to have two ILS investors lined up. -
Hurricane Milton will show the ILS product behaving as investors expect it to.
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This is a far narrower drop than post Ian, when the index was lost 10%.
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A $40bn Milton loss should barely dent many ILS returns but will trap some capital.
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Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred.
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Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds.
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Collateralised reinsurance and retro are in the firing line.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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The firm’s new name is inspired by 18th Century Swiss mathematician Leonard Euler.
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Maya Henry will be tasked with raising capital and managing clients in North America.
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The deal freed up capital held against deals written in 2019 and 2020.
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The ILS industry offered 11 points of merit that justify cat bonds being eligible for UCITS funds.
