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The timing is “opportune” to start the strategy according to Bennelong. -
The firm predicts 2024 will be a record year for primary issuance.
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The firms’ partnership preceded Japan's first ‘megaquake’ warning.
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Several bonds suffered declines in value from February to July.
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The deal takes year-to-date cat bond lite issuance to $367.6mn
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The carrier estimates the total industry loss for the Microsoft/CrowdStrike outage at around $1bn-$2bn.
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The manager is looking to buy positions on the secondary market.
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Two Eclipse Re notes totaling $34.8mn were issued last week.
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The analyst estimated Beazley’s loss from the global outage at $80mn-$120mn.
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The event could unpack issues around accumulation risk and cloud services.
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The EUR150mn bond provides windstorm coverage in France and Monaco.
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More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
