-
The bond is targeting $225mn of limit across the Class A and Class B notes. -
The notes provide coverage in the US and District of Columbia but exclude Florida.
-
The firm recorded a 13.3% nat cat impact to the P&C combined ratio.
-
Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
-
The latest issuance signals the second time the sponsor has entered the cat bond market.
-
In its first deal, Enstar received $350mn in premium for certain 2019 and 2020 business in AlphaCat’s portfolio.
-
The firm will provide an update on 22 November to avoid holiday season.
-
Andrade flagged expected 5% to 10% increases in the US and Europe.
-
The figures imply first-layer reinsurance recoveries for Helene.
-
The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
-
The pension scheme has been winding down its ILS portfolio in recent years.
-
Cat bonds, private ILS and retro were all kept at “strongly overweight”.
