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Cat bond issuance in H1 at around $8.6bn was almost a match for full-year 2022 volumes at $8.9bn, as the market staged a recovery at a pace that surprised many participants after a challenging second half last year. -
The bond was initially launched as a $175mn cat bond, fronted by Hannover Re.
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The target limit on the deal has expanded from $100mn to $100mn-$175mn.
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The private equity house's previous cat bond raised $50mn of parametric coverage.
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The broker will also work to support traditional reinsurance and retro activities.
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The carrier has also narrowed the pricing on its Class A and Class B notes.
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The bond will provide coverage in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.
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The European Commission suggested that its review should include looking at the risks for retail investors of access to instruments including cat bonds and other niche alternatives.
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The new SPA will write cyber reinsurance initially and could progress to writing insurance.
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The UK asset manager’s ILS strategy is operating across six of its multi-asset funds.
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The reinsurer is seeking coverage for any named storm, earthquake, severe weather or fire event in several states in the northeast of the US.
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