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The Mexican government has returned to the ILS market to seek $290mn of reinsurance from a new multi-peril cat bond to protect its Fonden natural disaster fund, Trading Risk understands.
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AmTrust is set to pay a 375 basis point insurance coupon for its $100mn Fortius Re cat bond, as the deal priced at the lowest end of its revised target range, sources said.
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Hannover Re said that it had written an additional $2.5bn limit in fronted business in recent years, after completing $960mn of cat bonds this year for three organisations.
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The target spread on AmTrust's $100mn Fortius Re cat bond has fallen by 9 percent during marketing of the ILS transaction, Trading Risk understands.
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Prime Minister Theresa May outlined plans over the weekend to set up a London centre to support disaster planning in developing world countries, including £8mn to be spent on funding insurance cover.
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Second quarter cat bond issuances totalled $6.7bn, according to Trading Risk figures, making it the highest figure for any quarter on record
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Use of Property Claims Service (PCS) industry loss triggers in cat bond issuance increased during the first half of 2017, supported by a couple of notably large transactions
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Willis Re said that retro rates on loss-free accounts dropped by 5-10 percent in the mid-year renewals.
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The Windmill I Re private cat bond has been renewed at a size of EUR40mn and will run for three years, according to a listing notice on the Bermuda Stock Exchange.
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Tokio Solution Management's Shima Re transformer platform has issued a $70.6mn (8bn yen) private cat bond, Hotaru 2, according to a listings announcement on the Bermuda Stock Exchange.
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Specialist ILS funds were the largest group of investors in the World Bank's $320mn pandemic cat bond, with European investors also dominating, according to data from the organisation.
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The World Bank said that the launch of a $320mn cat bond as part of its pandemic insurance facility was a momentous step that had the potential to save millions of lives.
