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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty. -
The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
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The bond was trading at around 12.3c on the dollar in the secondary market last month.
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This year’s coverage will involve $2.94bn of new risk transfer.
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This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
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The deal is being issued through Lloyd’s London Bridge 2 PCC.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Some $625mn of new issuance entered the market in the first week of March.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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The scope of QRT’s new ILS strategy will include cat bonds and private ILS.
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As of 14 February, the company received 405 claims.
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The fund is open to European and other global investors.
