-
The cedant’s Namaka Re bond is offering a spread range of 200-250 bps. -
The acquisition expands its global employee benefits business to ~4,000 global employees.
-
The bond provides coverage for North American storms and earthquakes, as well as European windstorms.
-
The pricing is at the top end of the initial guidance range of 550-600bps.
-
The bond is being issued through Lloyd’s London Bridge 2 platform.
-
The bond upsized by around 20% as pricing settled 2% below initial guidance at 7%.
-
The rating allows IQUW to access $1bn in group capital.
-
The bond will provide coverage for Japan typhoon and flood on an indemnity, per-occurrence basis.
-
Caution about capital markets volatility is leading sponsors to stagger bond renewals.
-
The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
-
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
-
The agency said introduction of a new methodology will depend on the feedback it receives from the ILS market.
