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Helene losses were spread wider than initially suggested, in contrast to Milton claims. -
Shareholders are voting to approve being wound up on 18 December.
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The notes provide coverage in the US and District of Columbia but exclude Florida.
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The latest issuance is the second cat bond RenaissanceRe has issued this year.
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The fund will be denominated in US dollars and digital currencies.
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The UK Local Government Pension Scheme (LGPS) has around £391bn in AuM.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The capital being returned to shareholders is part of a compulsory partial redemption.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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The new funds will target the US wealth market through financial professionals.
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Cheaper traditional reinsurance as of mid-year may have dampened deal pipeline.
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The failure of a Jamaica bond to pay out following Hurricane Beryl damage has brought focus onto the deals.
