Armor Re Ltd. Series 2014-1

The Armor Re Ltd. (Series 2014-1) catastrophe bond, which launched just over a week ago, has grown in size to $200m, but we understand has priced at the top end of guidance suggesting that investors will not allocate capital to cat bonds at any cost.

Primary, Florida-focused, insurer American Coastal Insurance Company is returning to the catastrophe bond market with a second take-down of the Armor Re program with the launch of an Armor Re Ltd. (Series 2014-1) cat bond issuance.