Residential Re 2010 Ltd. closes at $400m

by Artemis on June 6, 2010

USAA has closed it’s latest catastrophe bond issuance Residential Reinsurance 2010 Ltd. at a final size of $400m. More details on the transaction are available in our Deal Directory.

The deal resulted in four tranches being created (we originally reported on three here). Classes 1 to 3 are all to be calculated on a per-occurrence basis while the Class 4 tranche will be calculated on an annual aggregate basis. The fourth tranche was not given a rating as it wasn’t submitted to the rating agency.

Subscribe for free and receive weekly Artemis email updates

Sign up for our regular free email newsletter and ensure you never miss any of the news from Artemis.

← Older Article

Newer Article →