Property
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The carrier has priced the Class A tranche at 500 bps. -
Pricing on the Class A notes is at the lower edge of guidance.
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The pricing guidance is now 550-575 basis points.
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The firm is focusing on developing specialty offerings.
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The carrier has added $5mn to the target limit bringing it to $105mn.
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The underwriter will report to Kristina Maffit.
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Pricing on the Class A notes moved toward the lower edge of guidance.
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The coverage is for any named-storm loss event in Florida.
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The state pool is seeking indemnity, annual aggregate cover.
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Sources are expecting multi-billion new limit to be placed.
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The cat bond will cover earthquake and named storm events.
