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The deal would be the US agency’s second.
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From October 2020 the new system will match pricing to flood risk for individual homes. -
As the first quarter drew to a close, cat bond sponsors continued to test the market’s appetite for new deals.
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Cat bonds are becoming a “primary area of focus” for investors after faring well amid two years of catastrophe losses, AlphaCat CEO Lixin Zeng said at this year’s Sifma IRLS conference in Miami.
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Florida insurers should have more of a stake in managing the claims process, the Secquaero CEO said.
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New aggregate demand from Japanese cedants may also present opportunities for ILS markets.
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The storm, which raced across Germany yesterday, had wind speeds of more than 100km/h.
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TransRe is paying investors a higher multiple relative to its first cat bond deal issued in 2018.
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The price the transaction offers investors has moved to the top end of initial forecasts.
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The carrier also reported a 12.2 percent increase in gross written premium in structured reinsurance and ILS activities, which reached EUR2.93bn.
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The latest issuance brings Twelve Capital’s Dodeka issuance for this year up to $113.36mn.
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Oxfam aims to scale up the scheme, attracting insurance backing and investors, if the pilot is successful.
