The spread guidance for UPC's Armor Re II cat bond has dropped 11.76 percent taking the midpoint of the new range of 350-400 basis points (bps) while the target size remains unchanged at $100mn.
Roy Wright has resigned as CEO of the National Flood Insurance Program (NFIP) to lead an industry-funded non-profit group that promotes defences against property destruction by natural disasters.
The ILS Advisers Index reported an average return of just 0.08 percent for the month of February and is currently reporting a negative return of -0.10 percent for the month of March.
Aspen Bermuda has launched a $150mn cat bond Kendall Re 2018-1 which will provide it with annual aggregate county-weighted cover for US multi-peril risk as well as protection against European storm risk.
