AmTrust set to raise $100mn cat bond

AmTrust is set to raise its targeted $100mn from its first public
cat bond deal, Fortius Re, as the insurer managed to close the deal
for a premium rate that was below its initial target, sources told
Trading Risk.
The insurer is set to pay a 375 basis point (bps) insurance
coupon for the cover, which came in 12 percent below its initial
400-450 bps target.
The spread provides investors with a 3.2x multiple of the
deal's expected loss of...