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The final estimate is a 12% increase on an August tally of NZ$1.99bn. -
CEO Booth said there is “continued interest” in the NA captive market.
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The fund manager operations booked management fees of $31mn.
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The deal is a large expansion on last year’s cat-bond coverage.
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The Medici cat bond fund experienced the largest growth in AuM.
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The $175mn bond is priced lower than the original range set out in January.
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The depth of the retro market recovery will be an influential factor in the pace of the cat market slowdown from here.
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Investment firm Phoenix launched a private credit and lending platform for the mid-market.
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CEO Trevor Carvey said 1 January 2024 renewals were more “orderly” than in 2023.
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Phoenix Re renewal ‘shows commitment to doing Asia ILS, for Asia in Asia’, according to MS Amlin Asia Pacific CEO Will Ho.
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The carrier said it expects to maintain combined ratio expectations as it takes a selective approach to casualty lines.
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The investment firm said cat bond spreads that are elevated relative to historical levels continue to offer an attractive entry point for investors.
