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Daniel Ineichen and Flavio Matter have been promoted to co-heads of ILS. -
The coverage is for any named-storm loss event in Florida.
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The state pool is seeking indemnity, annual aggregate cover.
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Sources are expecting multi-billion new limit to be placed.
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The bond will provide named storm coverage in southern US states.
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The bond will provide named storm coverage in some US states.
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The bond will provide parametric cover for earthquake and windstorms.
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The cat bond now has a pricing spread of 250-275 bps.
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The cat bond will initially cover named storms in Florida and South Carolina.
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The cat bond will cover earthquake and named storm events.
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Some $415mn of capacity entered the market last year.
