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The firm said it was the first time a UCITS cat bond fund passed the $4.0bn mark. -
Investors eyeing private ILS include opportunistic allocators keeping watch on storm season.
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Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
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The sidecar renewed at $230mn for 2025.
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The pension plan noted in June 2024 that it was exploring new options in ILS.
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The number has expanded by around 40% from an earlier update, sources said.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The investment is a response to shifts in stock-bond correlations.
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The fund was set up 18 months ago by cat bond investor Florian Steiger.
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Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
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She was previously head of investor relations and business development for North America and Australia at Securis.
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This followed a $650mn fall in April, after management change of the fund.
