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Steiger is said to be moving to an “entrepreneurial” role after more than six years with the Zurich-based firm. -
The Nature Coast Re offering is the first in a new series from SafePoint.
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Analysis by Lane Financial concluded that ILS returns will likely be double-digit-to-high-teens in 2024.
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The Class A notes priced at the midpoint of guidance and the Class B notes at the top end.
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The three-year instrument provides cover for US named storms and earthquakes and European windstorms.
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Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.
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Carriers have been dealing with elevated storm activity this year, whilst additional purchases to match inflating values had largely been parked in 2023.
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PoleStar Re will provide worldwide coverage for any cyber event or series of cyber events.
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This will be the third time this year the California Earthquake Authority has issued its Ursa Re cat bond.
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The $75mn cat bond will cover systemic cyber events on a per-occurrence basis.
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The Bermuda-based transformer vehicle has issued $109.9mn in 2023 so far..
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The global carrier has expanded its target limit to $250mn-$275mn.
