Palomar completes $400mn Torrey Pines Re cat bond deal
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Palomar completes $400mn Torrey Pines Re cat bond deal

Bernard Goyder
05 April 2021
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Palomar logo La Jolla California jt.jpg

Palomar has completed a $400mn cat bond issuance, indemnifying the carrier against a major earthquake event, in a deal scaled up by a quarter on strong demand.

Singapore-domiciled Torrey Pines Re is the special purpose entity that issued the bond, in a return to the ILS market for Palomar, which placed its 2020 programme as a traditional reinsurance treaty.

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