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The bond is split across Class A and Class B notes that have different levels of risk. -
Latin America and the Caribbean accounted for 4.6% of GWP for Lloyd's in 2023.
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The cat bond market was very active in April as spreads began to widen.
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The Icosa Cat Bond Strategy now stands at $130mn in AuM.
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Tanja Wrosch joins Twelve after more than a decade at Credit Suisse ILS.
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Market sources are speculating on the reasons behind the spread widening on index-based deals.
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The Abu Dhabi investor is exploring options for fresh investments in (re)insurance and ILS.
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The regulation now allows pension funds a more flexible benchmark for measuring alternatives.
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Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.
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This compares to the 2023-2024 tower which covered losses up to $2.83bn.
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The Floridian secured $2.7bn in aggregate limit across two towers.
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Additional capacity for upper-layer coverage is driving rate reductions, the broker says.
