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The pricing multiple on the deal is 12.1x the sensitivity case expected loss. -
The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The single Class A note is paying a multiple of 2.1x.
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The Class A and Class B notes are paying lower multiples than initially guided.
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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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Magnani has served for more than 14 years in ILS broking roles.
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The ILS manager will “pragmatically accept” a degree of credit risk in deals.
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Beazley returned with its second Fuchsia cat bond issuance.
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Former ILS investors who left the space have looked again and re-allocated.
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The scheme’s ILS allocation has held steady at 0.7% of the total fund.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
