USAA places $400mn of Res Re cat bond limit across three tranches
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USAA places $400mn of Res Re cat bond limit across three tranches

Liz Bury
08 November 2023
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USAA has placed $400mn of Residential Re cat bond limit across three tranches of notes, with the $50mn of Class 2 zero-coupon notes pricing at 86.5% of the principal amount.

This gives a multiplier of 2.3x on the expected loss on the sensitivity case of 6.79%.

The bond will provide reinsurance coverage in US states and the District of Columbia for tropical cyclone, quake, severe thunderstorm, winter storm, wildfire, volcanic...

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NewsCatastrophe bondsUSAA
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