Residential Reinsurance 2005 Ltd.
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Residential Reinsurance 2005 Ltd. - At a glance:
- Issuer / SPV: Residential Reinsurance 2005 Ltd.
- Cedent / Sponsor: USAA
- Placement / structuring agent/s: Goldman Sachs was bookrunner and BNP Paribas was co-manager.
- Risk modelling / calculation agents etc: ?
- Risks / Perils covered: U.S. hurricane, U.S. earthquake
- Size: $176m
- Trigger type: Indemnity
- Ratings: S&P: Class A - 'BB', Class B - 'B'
- Date of issue: Jun 2005
Residential Reinsurance 2005 Ltd. - Full details
A replacement for USAA’s 2002 Residential Re cat bond transaction. This deal secures them a new layer of cover for U.S. hurricanes and earthquakes via a $176m catastrophe bond.
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