Stocks
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The reinsurer said a listing on the stock market will facilitate its growth.
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The two series of notes run until 1 June 2019.
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A $125mn tranche of Fibonacci Re notes and a $9.27mn tranche of Dodeka XV notes have been listed on the Bermuda Stock Exchange.
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Gulf reinsurer Oxbridge Re has licensed its new Oxbridge Re NS vehicle and issued a tranche of notes.
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Twelve’s first and only employee in the US Alex Orloff will be returning to his consultancy Sybella Research.
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The latest issuance adds to the $262.61mn of notes issued earlier this year.
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The fund makes a 1.38 percent loss in the first five months of the year.
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Arch-backed Watford Re may be poised for an IPO following Watford Holdings’ announcement that it is considering becoming a publicly-traded company.
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This is the second operational cat bond deal, following the $200.8mn Operational Re cat bond issued in 2016.
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Markel Catco reported the NAV of its ordinary shares remained at $0.69 at the end of May.
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The London-listed carrier is said to be looking for both ILS and Names money to support the growth of its facilities-only special-purpose arrangement for 2019.
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The agreement follows a $400mn investment in Hyperion by Canadian institutional investor CDPQ.