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The EUR150mn bond provides windstorm coverage in France and Monaco. -
More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
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Twia’s analysis showed existing rates were inadequate.
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The firm has observed a “more widespread investor base” in cat bonds.
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The fund follows an earlier climate change-focused ILS initiative from the firm.
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Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.
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The $1.6bn of cat bond limit on-risk includes $1.1bn Everglades Re mega-bond.
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Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.
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This is lower compared to 8.2% recorded by the index in H1 2023.
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The latest Insider ILS Outstanding Contributor for the year said 2011 was an under-appreciated turning point for the market.
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The parametric trigger on the World Bank deal specifies storm pressure of 955mb or lower but its initial reported landfall was at 975mb.
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Hurricane Beryl is expected to strengthen again after hitting the Yucatan Peninsula.
