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The bond triggers on a parametric, per occurrence basis, across Class A and Class B tranches. -
Icosa said certain cat bonds could see more than 0.2 points of price movement.
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Hurricane Milton will show the ILS product behaving as investors expect it to.
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This is a far narrower drop than post Ian, when the index was lost 10%.
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Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred.
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Collateralised reinsurance and retro are in the firing line.
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The Mexican cat bond offers $125mn of protection against Atlantic named storms.
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Parts of the Yucatan peninsula are under a hurricane warning, though the storm is expected to remain offshore.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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The raise includes minority investments from Nationwide, Enstar and others.
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The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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Only three storms have impacted a larger area than Helene since 1998.
