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Deal sizes increased by 84% on average across the six tranches that saw an increase. -
Climate change and other loss impacts were not adequately incorporated, sources said.
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The Class A section of the bond has doubled in size, at lower pricing.
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ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
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The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
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The NCIUA had initially sought $350mn of limit.
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DaVinci equity plus debt stood at $3.25bn as of 31 December.
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The carrier increased premium by 7% at the January renewals.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
