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The bond is split into five tranches, with two notes offered on a zero-coupon basis. -
Price guidance for the bond is 7.00%-7.75%.
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The former Credit Suisse ILS head Niklaus Hilti said working on life buyout hedges could rejuvenate the life ILS market.
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The carrier has received more than 3,600 claims from LA wildfires.
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The vehicle has $2.55bn in capital committed by institutional investors.
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The estimate has reduced slightly since the modeler’s last update in October.
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The bond is likely replacing the 2021-1 Class F bond, which matured in December.
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The fund returned 15.69% in calendar year 2024.
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The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
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Kusche and Rosenberg will co-lead the firm’s global ILS business.
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This comes after the firm’s distribution partner GAM has had a challenging few years.
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ILS managers expect the losses to have some impact on future cat bond spreads.
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