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The combined entity ranks third in the Insurance Insider ILS leaderboard. -
Liquid alternative strategies accounted for around $1.4bn of the total.
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The bond is likely replacing the 2021-1 Class F bond, which matured in December.
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AuM remains generally flat at UCITS funds over the weeks since LA fires started.
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The bond will provide coverage for named storms in North Carolina.
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American Integrity is seeking expanded limit on more favourable terms.
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But cat bonds are experiencing negative secondary market price movement.
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Tower Hill secured $400mn of Winston Re limit in 2024.
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The sponsor secured $100mn limit last year, paying a multiple of 8.3x.
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The carrier has recognised two separate losses for the Palisades and Eaton fires.
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Capital inflows, notably into UCITS funds, and accumulated returns supported issuance of $17.2bn in 2024.
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The deal priced below guidance for the Class A and Class B tranches.
