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Three tranches of Home Re 2019 1 notes were listed on the Bermuda Stock Exchange (BSX).
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A move towards more bilateral trades is counter to what you’d expect from a commoditised market.
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The fund’s net assets shrank by $4.4mn over the period.
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Structuring agent Swiss Re Capital Markets has claimed a market first for the Singapore-based deal.
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The bond priced towards the upper end of Scor’s initial target.
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The 2018 bond was the first to be issued by the Peruvian government. -
The Florida-based insurer was initially seeking $75mn for the single-tranche cat bond.
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Safepoint had initially hoped to raise $75mn from the ILS deal in a sign of tight capacity and increased rate demands in Florida.
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The size of the Integrity Re coverage may shrink to $50mn.
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The company is now targeting $250mn for its latest cat bond, which is being issued in the UK.
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The Floridian insurer has reduced the target size of the deal from $75mn to $70mn, as spreads on the transaction have risen 23-24 percent year on year.
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The deal will take the organisation’s cat bond cover up to $1bn including past transactions.
