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The capital will be allocated to a pure cat bond strategy, sources have confirmed. -
The former Neuberger Berman managing director confirmed the new role in a LinkedIn post.
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Longleaf Pine Re priced, while spreads on Everglades Re deal moved higher.
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Spreads could continue widening throughout the rest of the year.
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Cession ratios declined at three of the four publicly listed Floridians.
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The company plans to reduce its quota share to 20% from 40%.
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The sponsor was targeting between $850mn-$1.1bn of coverage in the latest mega-bond to hit the ILS market.
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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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Twia needed to purchase $3.35bn of reinsurance to satisfy its $6.5bn 1-in-100 PML.
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The index-based coverage will be for the benefit of Lloyd’s Syndicate 1910.
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Combined AuM of UCITS funds stood at $11.3bn as of 26 April 2024.
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The Mexican government’s IBRD quake bond priced 4% ahead of guidance.
