-
The cat bond is the first since 2013 for the state wind pool.
-
AIR Worldwide put the direct losses from the incident at between $200mn and $600mn.
-
There was also evidence of one investment manager renewing its interest in the asset class.
-
A decrease in capacity following last year’s losses is thought to be one of the largest drivers of the rate increase.
-
The New York-listed company said in December it expected $17mn catastrophe losses in its Q4 results.
-
Friederike, a compact and fast-moving extratropical cyclone, struck four countries in January last year.
-
Spreads on the health insurance cat bond have dropped, but still above the record low level on the 2018 deal, according to sources.
-
The Florida Office of Insurance Regulation has now tracked more than $5bn of Hurricane Michael claims.
-
The Californian wildfires, Hurricane Michael and Typhoons Jebi and Trami pushed up losses.
-
The utility expects to source enough cash to finance its ongoing operations.
-
The insurer is exploring using the vehicle for a quota share as well as access to the firm’s Syndicate 5623.
-
The updated $110mn to $130mn estimate is more than double the prior projected Q4 loss ahead of the wildfires.