Bonanza Re Ltd

Qualifying aggregate catastrophe losses failed to reach the attachment point for one tranche of insurance group Progressive’s Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal, meaning the zero-coupon one-year cat bond deal was allowed to mature and investors got their full capital back.

Progressive-owned ARX Holding, the parent of American Strategic Insurance Group, has successfully upsized its latest catastrophe bond issuance by 40% to secure $70 million in multi-peril catastrophe reinsurance from the Bonanza Re Ltd. (Series 2023-2) transaction.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, is aiming to upsize its latest catastrophe bond issuance, with now up to $70 million in multi-peril catastrophe reinsurance sought from a Bonanza Re Ltd. (Series 2023-2) transaction.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, is back in the catastrophe bond market for its second issuance of 2023, seeking a $50 million or larger single-year source of additional multi-peril catastrophe reinsurance from a Bonanza Re Ltd. (Series 2023-2) transaction.

Executives from US insurance giant Progressive, the owner of catastrophe bond sponsors ARX Holding and American Strategic Insurance Group, have explained that these cat bonds are helping it to maintain reinsurance stability in a challenging market environment.

Insurance group Progressive is now set to secure $135 million of collateralized catastrophe reinsurance from its new Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal that benefits the ARX Holding insurers, including American Strategic Insurance Group.

The new Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal from ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, could now upsize to $130 million, while pricing has risen to the top-end of guidance.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has returned to the catastrophe bond market in search of a $125 million or larger Bonanza Re Ltd. (Series 2023-1) deal that will provide it both occurrence named storm and aggregate multi-peril coverage.

The new Bonanza Re Ltd. (Series 2022-1) catastrophe bond transaction, that is being issued for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has now been priced and did not upsize, remaining $135 million in size, the notes priced at the top-end of guidance.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, is back in the catastrophe bond market with a US named storm focused issuance and is seeking $135 million or more in collateralized reinsurance protection from a Bonanza Re Ltd. (Series 2022-1) transaction.