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Kin’s reinsurance structuring means the bond’s losses will be kept to a minimum. -
Most of the ILS capital was attracted to the cat bond market.
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Demand for peak peril retro increased significantly in Q2 2024.
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Cat bond funds continue to draw interest as private ILS more challenged.
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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.
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The number of sponsors has risen from 46 about a year ago to 66 over the last 12 months.
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The broker said it expects strong ILS capital inflows to continue.
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The bond is offering a spread range of 950-1,050 basis points.
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The US carrier abandoned the project due to high price expectations.
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The Bermuda regulator is consulting on a refresh of its rules that will be in force as of 1 January 2025.
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Growth was driven by strong returns and new investors entering the market.
