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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines. -
The new agreement provides $40mn of aggregate limit excess of zero.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
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Mapfre Re CEO Miguel Rosa was “very satisfied” with the debut cat bond deal.
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The bond will provide multi-peril coverage in the US and District of Columbia.
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The pricing multiple on the deal is 12.1x the sensitivity case expected loss.
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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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The bond will provide coverage for named storm across five US states.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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Losses from Hurricane Milton are expected to affect only select junior structures.
