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The cat bond will cover earthquake and named storm events. -
Some $415mn of capacity entered the market last year.
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Pricing guidance has also been updated to between 8%-8.25%.
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The agency stressed the physical impact of climate risk on companies.
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The bond will provide protection against Japanese flood and quake events.
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The Truist-owned cat MGA had reduced its line size to $50mn last year.
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The challenger broker is continuing to build out its presence on the island.
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The bond will provide named storm coverage in southern US states.
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The firm reallocated from short-tail lines amid social inflation concerns.
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The firm’s assets under management dropped to $1.6bn, as a capital return more than offset new inflows.
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He was executive managing director in Aon’s wholesale treaty team.
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