-
Roughly $750mn of securities across 13 cells are available to institutional investors via London Bridge vehicles.
-
Broker-dealers' year-ahead forecasts have undershot total final issuance in three of the last five years.
-
GC Securities is the sole structuring agent and sole bookrunner on the deal.
-
The multiple on the deal has settled at 2.3x the sensitivity case expected loss, down from 2.6x, according to initial pricing guidance.
-
Fermat managing director Nelson Seo has forecast that continued high demand could push ILS issuance volumes even higher in 2024.
-
The deal will benefit Lloyd’s Syndicate 1301 and provide annual aggregate cover on a PCS industry loss basis for US named storm and North America quake.
-
The deal closed at the top end of the Farm Bureau’s revised target size, having grown from an initial $200mn offering.
-
The $50mn bond provides coverage against systemic cyber events in the US and District of Columbia.
-
Sanders Re III will provide coverage for the District of Columbia and all US states apart from Florida.
-
The carrier has also extended the redemption period by three years, to 31 March 2029.
-
The spread guidance has dropped to 7.75%-8.25% from 8.25%-9%.
-
The insurer had initially sought a spread range between 6% and 6.75%.