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The bond will provide coverage for Japan typhoon and flood on an indemnity, per-occurrence basis. -
Caution about capital markets volatility is leading sponsors to stagger bond renewals.
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The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
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The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
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The agency said introduction of a new methodology will depend on the feedback it receives from the ILS market.
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Guernsey’s TISE listed the world’s first private cat bond issued by Solidum Re in 2011.
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Founding partners DeCaro and Rettino will continue to provide oversight and investment advice.
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This will be the third cat bond issuance through Baltic Re PCC.
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The cat bond manager warned of excess downside risk owing to an accumulation of losses.
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Flood Re’s bond Vision 2039 bucked the trend by pricing up 7% as its secured £140mn ($174mn) of limit.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
