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The increase in limit reflects the carrier’s growing exposure.
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The Bermudian said its third-party vehicles were “sufficiently capitalised”.
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The Medici cat bond fund experienced the largest growth in AuM.
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The review followed a methodology change.
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The sidecars segment has been attracting inflows after returns hit a high note in 2023.
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Improving the speed and efficiency of settlements is required to help the market grow.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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Participating insurers would be required to provide all-perils property insurance for residential and commercial policyholders.
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In total, insurers paid indemnity of $11bn and loss adjustment expenses of $1.5bn for claims closed in 2022.
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GC Securities is the sole structuring agent and sole bookrunner on the deal.
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Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.
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The deal closed at the top end of the Farm Bureau’s revised target size, having grown from an initial $200mn offering.