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The bond will provide protection against Japanese flood and quake events. -
The bond will insure against named storms in eight US states.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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The firm has integrated a trustee bank API into the RUDDR platform.
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The reinsurer said retro pricing had ‘moved slightly in our favour’ at 1 January.
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CEO Booth said there is “continued interest” in the NA captive market.
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The deal is a large expansion on last year’s cat-bond coverage.
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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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The investment firm said cat bond spreads that are elevated relative to historical levels continue to offer an attractive entry point for investors.
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Pricing on Class A notes has reduced for a second time.
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The health insurer now expects to secure the lowest-risk tranche of its health bond for under a 3% spread.
