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Richard Pennay also addressed the dip in cyber ILS activity. -
The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.
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Private ILS would benefit from extension spreads to manage investor concerns, the CEO argued.
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The bond will offer retrocession coverage for Hannover Re.
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The catastrophe bond comes after the issuance of a Mayflower Re bond last year.
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Its 2025 programme exhausts at $9.5bn excess $1bn.
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The ILS manager also swung to an operating profit after posting a loss in Q1 2024.
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All 29 funds tracked by the index returned a positive performance.
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The initial offering will include 6,875,000 shares of common stock.
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The bond will provide protection against named storm and thunderstorm.
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The carrier is offering shares priced at $29-$31.
