-
Michael Rich left the portfolio management role in May. -
Latest pricing suggests secondary market traders are baking in further loss development.
-
The bond provides protection in France and its overseas territories.
-
September was the strongest performing month since the index began in 2006.
-
Some $409mn of volume entered the market in the week to 4 November.
-
The low PCS number is presenting a challenge for ILW buyers and sellers.
-
The four-year deal is split across three tranches of notes.
-
The latest issuance offers a spread range of 650-700bps.
-
The final price fell 14% from the initial midpoint price offered by the sponsor.
-
The deal would represent a diversifying auto risk deal.
-
The sovereign wealth fund’s ILS investments grew to $828mn.
-
Cat bonds, private ILS and retro were all kept at “strongly overweight”.
