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Farmers’ agents in Florida will be offered an appointment with Slide. Renewals issued by Slide will begin for February 2024 effective dates.
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The pricing settled at 925 basis points, which is towards the lower end of the initial guidance of 900-975 basis points.
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Lidia has now largely dissipated after making landfall in Mexico.
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The fund is on course for its strongest year of returns since inception in 2014.
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The cat bond will cover earthquake perils in California on an annual aggregate basis.
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Hannover Re’s Bermuda-based reinsurance transformer Kaith Re has issued a new $15mn private cat bond, a Bermuda Stock Exchange filing confirms.
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Hiscox and Aeolus are looking to capitalise on strong investor appetite for cat bonds this year with their respective fund launches.
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Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.
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Experts agreed that investment in understanding wildfire risk had come a long way in recent years.
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Competition at the upper layers of reinsurance towers could lead to the creation of ‘riskier’ cat bonds, said Swiss Re Capital Markets.
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Ambassador was set up in 2021 with Embassy Asset Management the named investment adviser.
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Earlier this year, the CEA raised $200mn in limit for an Ursa Re cat bond.