Kilimanjaro Re Ltd. Series 2018-2

The target size for Bermudian reinsurance firm Everest Re’s latest catastrophe bond issuance has increased by 75%, with the reinsurer now seeking $525m of collateralized retrocessional reinsurance from the twin Kilimanjaro Re Ltd. (Series 2018-1) and Kilimanjaro Re Ltd. (Series 2018-2) transactions.

Bermudian reinsurance firm Everest Re is back with its latest catastrophe bond issuance, which sees the company bringing twin Kilimanjaro Re deals to secure at least $300 million of protection, from Kilimanjaro Re Ltd. (Series 2018-1) and Kilimanjaro Re Ltd. (Series 2018-2) issues, covering identical layers of risk but with different durations.