Insight and Intelligence on the London & International Insurance Markets 22 Jan 2018
Validus Re’s first cat bond grows by 23%
- 2 January 2018
Validus Re's first cat bond proved to be popular with investors, expanding by 23 percent over the course of marketing to reach $400mn.
Despite the recent losses from hurricanes Harvey, Irma and Maria (HIM), pricing was pushed down on all three tranches of the annual aggregate deal, which was twice oversubscribed, sources said.
The Tailwind Re bond has exposure to many of the areas impacted by last year's catastrophes. It will cover named storms and earthquakes in the US, Puerto...
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