-
All cat bond funds across the Eurekahedge ILS Advisers index finished lower in March due to the mark-to-market hit from Covid-19. -
BI may seep into some reinsurance and retrocession covers but insurers will take the biggest hit, said the head of ILS at Schroders.
-
The California Earthquake Authority joins a rejuvenated cat bond market with several deals launched in the past week.
-
The bond priced at the top end of forecasts and 16 percent above initial targets, according to sources.
-
The broker said Covid-19 industry claims should be manageable but the disaster makes a broader capacity squeeze more likely.
-
The transaction will provide storm surge and quake cover for New York's subway system operator.
-
Sources said conditions in the cat bond market had “pretty much gone back to normal”.
-
The firm has already raised over $600mn from two Matterhorn Re cat bonds issued earlier this year.
-
The carrier has chosen Singapore’s ILS regime to issue the transaction.
-
The major buyback was completed before the Covid-19 pandemic sparked a market crisis.
-
The earliest the bond could have paid out was 9 April, but the coronavirus growth rate in covered territories wasn’t high enough.
-
Early firm orders showed similar levels of increases to 2019, but are not expected to be a strong benchmark in a fast-changing market.
