Gator Re Ltd Series 2014-1

The stricken Gator Re Ltd. catastrophe bond has finally matured and its notes have been delisted, which means any remaining principal will now either have been paid out to the sponsor American Strategic Insurance to cover its losses, or returned to investors.

The final chunk of outstanding principal from the stricken Gator Re Ltd. catastrophe bond notes has had its maturity extended again, as the last just under $5 million of notes issued continue to be locked up and have yet to be released as a pay out to the sponsor.

There has still not been a final maturity of the stricken catastrophe bond Gator Re Ltd., as the remaining outstanding notes are extended once again, but maturity does seem to be nearing as the amount of principal outstanding has been reduced to just under $5 million.

Just a brief update on the stricken catastrophe bond Gator Re Ltd., the fate of which has yet to be fully resolved as just under $17.78 million of principal remains outstanding and the notes have been extended for another month into July.

The triggered Gator Re Ltd. catastrophe bond has had its maturity extended for another month, likely to provide time for the final loss estimates to be validated and for the anticipated payment of the remainder of the $35 million of retained collateral to occur.

It now appears that the full $35 million of investor principal retained from the triggered Gator Re Ltd. catastrophe bond will be paid out to sponsoring insurer American Strategic Insurance Corp., as the latest estimate of qualifying losses has moved more than that amount above the attachment point now.

The Gator Re Ltd. catastrophe bond transaction has again had its maturity extended even further, we understand, as the time to clarify the full loss and facilitate the pay-out due to sponsor American Strategic Insurance increases.

The extension of maturity for the stricken Gator Re Ltd. catastrophe bond transaction has been extended even further, we understand, as the time to clarify the full loss and pay out due to sponsor American Strategic Insurance increases.

The recovery and payout made under the triggered Gator Re Ltd. catastrophe bond has been pegged at $29.5 million by the parent company of sponsoring insurer American Strategic Insurance Corp., an increase on its earlier expectations.

The Gator Re Ltd. catastrophe bond notes have been marked down on the secondary market on a number of broker pricing sheets in recent days, as the expectation that the stricken cat bond will cause investor losses became apparent.