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The deal freed up capital held against deals written in 2019 and 2020. -
The ILS industry offered 11 points of merit that justify cat bonds being eligible for UCITS funds.
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The deal takes year-to-date cat bond lite issuance to $367.6mn
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The CEO cited ‘no change’ in appetite from a shift in the capital mix.
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The manager is looking to buy positions on the secondary market.
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Schroders moves into fifth place in the Insurance Insider ILS leaderboard.
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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
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Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.
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This is lower compared to 8.2% recorded by the index in H1 2023.
