Floridian insurer American Strategic Insurance is set to raise $200mn from its Bonanza Re cat bond as strong investor demand pushed the insurance-linked coupon on the transaction below initial targets, sister publication Trading Risk reported.
UK Economic Secretary to the Treasury Simon Kirby has called upon the insurance industry to engage thoroughly with the consultation on the draft regulations for London's insurance-linked securities (ILS) hub.
The governor of the Reserve Bank of New Zealand has said that insurers are likely to bear between NZ$1.0bn and NZ$5.0bn ($0.7bn-$3.5bn) of the total NZ$8.0bn cost of the Kaikoura earthquake.
Generali is seeking EUR180mn ($192mn) of cat bond cover for its motor third-party liability book through a Dublin-based special purpose vehicle called Horse Capital I DAC, sources told sister publication Trading Risk.
