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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers. -
ILS as a percentage of the pension fund’s total assets grew to 1.5%.
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GP Affluent Markets will look to serve high-net-worth individuals.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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The bond was trading at around 12.3c on the dollar in the secondary market last month.
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Both carriers have extensive reinsurance coverage.
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This year’s coverage will involve $2.94bn of new risk transfer.
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The UK listed investment manager has almost doubled its ILS allocation since April last year.
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Tom Fealey has assumed lead portfolio manager responsibilities.
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This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
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The deal is being issued through Lloyd’s London Bridge 2 PCC.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
