Sure and Elevate return with $75mn Class C zero-coupon cat bond
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free trial
  • Log in

Sure and Elevate return with $75mn Class C zero-coupon cat bond

Liz Bury
11 May 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
US Currency: Wads of US bills fastened with rubber bands, close-up

SureChoice Underwriters Reciprocal Exchange (Sure) and Elevate Reciprocal Exchange (Elevate) have returned to the cat bond market with a 2023-2 Class C deal targeting $75mn of named storm coverage in Alabama, Louisiana, Mississippi, North Carolina, South Carolina and Texas, this publication understands.

This is a zero-coupon deal, with pricing guided at 89%-90% of the principal amount, giving an effective coupon of 12%.

The

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Catastrophe bonds
Headshot template (new) (1).png
Liz Bury
Editor
Contact
Gift this article