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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.
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The bond is offering investors a spread range of 1,050-1,150 bps.
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The Canadian pension’s sole remaining ILS allocation is with Fermat.
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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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Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
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The bond provides named US storm coverage and US and Canada quake protection.