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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets. -
It is targeting $25mn GWP this year and $50mn GWP in 2025.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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The bond is targeting $225mn of limit across the Class A and Class B notes.
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The floods add to an already historic loss tally for Canada in 2024.
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Löw will succeed Bertrand Wollner on his retirement in April.
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Spreads at levels favourable to sponsors could power Q1 2025 pipeline.
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Shareholders are voting to approve being wound up on 18 December.
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The notes provide coverage in the US and District of Columbia but exclude Florida.
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The latest issuance is the second cat bond RenaissanceRe has issued this year.
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June.
