-
The bond provides coverage for North American storms and earthquakes, as well as European windstorms. -
The pricing is at the top end of the initial guidance range of 550-600bps.
-
The bond is being issued through Lloyd’s London Bridge 2 platform.
-
The bond upsized by around 20% as pricing settled 2% below initial guidance at 7%.
-
The bond will provide coverage for Japan typhoon and flood on an indemnity, per-occurrence basis.
-
Caution about capital markets volatility is leading sponsors to stagger bond renewals.
-
The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
-
The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
-
The agency said introduction of a new methodology will depend on the feedback it receives from the ILS market.
-
Lara Martiner joined Allianz in 2011 as group legal compliance officer and legal counsel.
-
Industry sources estimate the market to be around $3bn.
-
The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
