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Dispersion of returns was high, with the range 0.87% to -3.71%. -
The programme structure was expanded, but it is unclear what percentage was placed.
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The bond will cover named storms in the state of Florida.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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Deal sizes increased by 84% on average across the six tranches that saw an increase.
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Climate change and other loss impacts were not adequately incorporated, sources said.
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The Class A section of the bond has doubled in size, at lower pricing.
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The CEO expects to see a larger shift between condos and apartments in 2026 and 2027.
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HCI will now consist of two operating units – the other being its four underwriting entities.
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The NCIUA had initially sought $350mn of limit.
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DaVinci equity plus debt stood at $3.25bn as of 31 December.
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State Farm General has asked California regulators for an emergency rate increase.
