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Bailey joins after two years at Roosevelt Road, where he was director of capital markets. -
In total there were seven international events that exceeded $1bn in 2023.
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Craig Hupper spent more than 25 years at TransRe, performing a variety of roles.
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Competition for remote risk deals intensified as more capital has targeted the swathe of business that has historically been the heartland of ILS.
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The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
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Tsunami warnings were initially issued following the earthquake but were subsequently downgraded.
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Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.
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The ICA escalated the event from a ‘significant event’ to an 'insurance catastrophe', reflecting the escalating severity of the situation.
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The broker has reported that Storm Zoltan is set to become the second-highest wind-related insured loss event in Europe in 2023 after Storm Ciarán.
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Insurers have received more than 7,500 claims related to storms across Queensland, New South Wales and Victoria.
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Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.
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The bond, which increased in size by 25% to $125mn, priced at the lower end of the previously guided range.
