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The bond is likely replacing the 2021-1 Class F bond, which matured in December. -
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Kusche and Rosenberg will co-lead the firm’s global ILS business.
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This comes after the firm’s distribution partner GAM has had a challenging few years.
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A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
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ILS managers expect the losses to have some impact on future cat bond spreads.
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The reinsurance attaches at $7bn, unchanged for the past two years.
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Prominent Name Dhruv Patel is the firm’s founder.
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The strategy launched on 1 January, winning mandates from several investors
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As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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The ILS and reinsurance broker was established last October by Raj Jadeja.
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Amin Touahri spent five years in a variety of roles at Munich Re.
