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The UCITS cat bond segment has added 54% in AuM since Hurricane Ian. -
Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
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The company no longer has any exposure to reinsurance contracts.
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Everest is in the process of transforming its ILS offering.
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The reinsurer said investors were interested in expanding after benefiting from good results.
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Magnani has served for more than 14 years in ILS broking roles.
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The ILS manager will “pragmatically accept” a degree of credit risk in deals.
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Former ILS investors who left the space have looked again and re-allocated.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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Management track record has been a factor in capital raising for 2025.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
