Stocks
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The insurer is exploring using the vehicle for a quota share as well as access to the firm’s Syndicate 5623. -
Two transactions were issued on the Bermuda Stock Exchange.
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A new $213mn issuance has been added to an $87mn Eden Re tranche done in December.
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The size of the vehicle was not disclosed.
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The transaction replaces an expiring $160mn deal issued in 2016.
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The latest deal will provide the carrier with retro cover, Trading Risk understands.
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The Florida-based carrier renewed aggregate reinsurance covering non-hurricane losses, including a $30mn single-provider deal and a larger $85mn programme.
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The fund manager invested in ordinary shares of the fund, exposed to losses from 2017.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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The number of cat bond lites issued so far this year now totals $113mn.
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The most recent cat bond lite issued by Kaith Re brings the total of Seaside Re deals to $112mn, up from $97mn for last year.
