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Dispersion of returns was high, with the range 0.87% to -3.71%. -
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The bond will cover named storms in the state of Florida.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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Deal sizes increased by 84% on average across the six tranches that saw an increase.
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The Class A section of the bond has doubled in size, at lower pricing.
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The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
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The NCIUA had initially sought $350mn of limit.
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DaVinci equity plus debt stood at $3.25bn as of 31 December.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
