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Additional capacity for upper-layer coverage is driving rate reductions, the broker says. -
The bond is offering investors a spread range of 1,050-1,150 bps.
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Forecasters have warned that a number of meteorological factors could make this year the most active on record.
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The Canadian pension’s sole remaining ILS allocation is with Fermat.
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The carrier is returning to the cat bond market for the first time since 2020.
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Rich had spent 13 years at the firm where he began his career and oversaw a cat bond and ILS portfolio.
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The Swiss Re veteran left her former employer last year.
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The company increased its full year 2024 adjusted net income guidance.
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Most years since 2014 have seen at least one named storm before 1 June.
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Sources said that while a late June-early July IPO is still on the table, a Q4 or early 2025 listing is expected.
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Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
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Torrey Pines, Atlas Capital and Marlon priced and sized up.
