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Twia needed to purchase $3.35bn of reinsurance to satisfy its $6.5bn 1-in-100 PML. -
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.
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The flat growth is a result of multiple forces influencing capital flows in both directions.
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The new Marlon bond offers multiples of 7.4x and 8.9x on the Class A and Class B notes respectively.
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Sanders Re cat bond coverage attaches higher than last year at $5.46bn.
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The Class D notes offer a spread of 1200bps with a multiple of 2.9x.
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California is the initial covered area but, following a reset, all US states will be covered.
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The coverage will be annual aggregate with an index trigger for wind and quake.
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First event tower for the Northeast exhausts at $1.1bn, at $1.3bn for Southeast and $750mn in Hawaii.
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The pricing fell 13.7% on the Class A notes and 6.5% on the Class B notes.
