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The (re)insurer placed a new $100mn enterprise cover, ahead of the $350mn bond elapsing. -
Rising Covid-related mortgage defaults could impact its Radnor Re deals, after three peers filed similar notices.
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Investment returns rebounded to a 2.7 percent gain for the half-year to 30 April.
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The European earthquake bond will pay investors a 450 basis point spread.
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The island's ILS capacity grew by $19bn, or 37 percent, the year after Irma.
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The ratings agency expects the residual market to grow as private carriers are under pressure.
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The sidecar investor's reinsurance funds fell by $1bn in its financial half-year.
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Cat bond investors received better risk-adjusted rates on new issuances, but lower risk levels meant average spreads fell year on year.
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The consultancy firm also argued that the World Bank should buy more pandemic cover after receiving a payout under its cat bond programme.
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The deal settled at the low end of the revised spread guidance.
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Pure cat bond funds fared better than those with private ILS strategies.
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The carrier raised $528mn of limit via its latest Bellemeade Re cat bond, including $78mn of direct reinsurance.
