-
The Altamont-backed broker has been building out its team since launching in 2023. -
The bond will cover named storms in five US states.
-
Price guidance for the bond is 4.00%-4.50%.
-
The platform’s aim is to support the ILS industry in ‘getting the marks right’.
-
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
-
The fund was set up in 2015 to capitalise on higher post-event yields.
-
Debut sponsor SV SparkassenVersicherung also secured its target size of $100mn.
-
Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
-
The revision is significantly lower than the $4.5bn October estimate.
-
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
-
The headcount at the start-up now stands at around 40.
-
Fales will focus on creating investment opportunities for the carrier’s specialty reinsurance portfolios.
