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“Pass-through” tax status would help SPIs issue US-based ILS, Joanna Syroka said.
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The firm’s fourth annual issuance brings the total volume of cat bond lite deals this year to $250.54mn.
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The stop-gap measure must now be passed by lawmakers in the Senate.
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The move follows a complaint and an investigation showing the firm had breached Bermudian law.
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Both companies secure more than 95% shareholder support for the transaction.
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The country’s economy minister predicts the 2,500 claims received so far could quadruple to 10,000.
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Proposed plans could open up new routes to Lloyd's for investors, but will there be space for them?
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The (re)insurance supervisor calls for “skin in the game” from all risk owners to reduce the risk of moral hazard arising from any state backstop.
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Previous European cat bonds issued out of Ireland were done on a one-off basis.
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Regulators have remained responsive despite the Covid-19 pandemic, according to the Obsidian CEO.
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The carrier’s plan would provide up to $750bn in pandemic cover for small businesses and $400bn for large enterprises.
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The FCA test case for Covid BI claims could have huge implications for insurers.