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Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred. -
Collateralised reinsurance and retro are in the firing line.
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The Mexican cat bond offers $125mn of protection against Atlantic named storms.
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Parts of the Yucatan peninsula are under a hurricane warning, though the storm is expected to remain offshore.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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Only three storms have impacted a larger area than Helene since 1998.
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The ILS manager expects “minimal, if any, losses” to bonds in its funds.
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A strong forward pipeline will require fast work by ILS investment houses.
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The sponsor has kept $25mn of principal in extension for any further loss development.
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Growth was driven by strong returns and new investors entering the market.
