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The bond will cover named storms in the state of Florida. -
The third-party capital platform is looking to enhance its tailored strategy offerings.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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Deal sizes increased by 84% on average across the six tranches that saw an increase.
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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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HCI will now consist of two operating units – the other being its four underwriting entities.
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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.
