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The bond’s pricing for southern US storms landed at the upper bound of guidance. -
Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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The bond is seeking coverage for named storm, severe thunderstorm and winter storm.
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ILS capital so far is viewed by sponsors as strategic rather than essential.
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There was a 12% increase in flood sums insured to C$7.3tn.
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Amy Stern started her career as vice president of group reinsurance at Zurich Re.
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Loss estimates are coming in for the weather event in Bavaria and Baden-Württemberg.
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The deal is offering a multiplier of 6.6x on the expected loss.
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Torrential rain caused flash floods in the Gulf States in the middle of April.
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The firm’s P&C and life and health retro buying is being centralised.
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The losses added 12.3 points to the firm's 100.4% CoR.
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The loss follows the pattern of 2002 and 2013 European flooding.
