The UK regulators have granted approval to set up the new multi insurance special purpose vehicle (mISPV).
The move is an important one and could lower re/insurers’ cost of capital.
The launch of the new fund represents another milestone in Schroders’ ongoing growth in Life ILS.
The move aims to expand its risk-sharing platform and strengthen its partnership with third-party capital providers.
Once one country issues a cat bond, a ‘domino effect’ will lead to many more: Savrassov
ILS has weathered the storm of COVID-19 and looks set to benefit from hardening market conditions, says Schultz of Aon Securities.
Coverage is secured through a newly formed Bermuda special purpose insurer Eagle Re 2020-2.
The extreme mortality bond is placed for life mutual insurance group Securian Financial.
Swiss Re has structured and placed a $775m catastrophe bond for California Earthquake Authority.
Reardon replaces Mike Krefta, who is leaving the company in early 2021 to return to the UK.