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The bond will provide fire protection for MGA Bamboo’s California business. -
Dispersion of returns was high, with the range 0.87% to -3.71%.
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The bond will cover named storms in the state of Florida.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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Deal sizes increased by 84% on average across the six tranches that saw an increase.
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The Class A section of the bond has doubled in size, at lower pricing.
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The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
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The NCIUA had initially sought $350mn of limit.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
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UCITS fund diversification targets limit their capacity for US wind bonds.
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Pricing fell by 13.5% on a weighted average basis across deals that updated last week.
