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The bond is being issued through Lloyd’s London Bridge 2 platform. -
This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
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The carrier increased premium by 7% at the January renewals.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
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Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
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More than 33,000 claims had been filed as of 5 February.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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Programs did not offer adequate risk-adjusted return.
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Standards and guidelines address institutional investors’ concerns over valuation risks.
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Menzinger succeeds Rowan Douglas, CEO of climate risk & resilience at Howden.
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Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
