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Hurricane Milton will show the ILS product behaving as investors expect it to. -
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 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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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
