Residential Reinsurance 2015 Ltd. (Series 2015-1)

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USAA puts another ResRe cat bond on watch list, extends others

U.S. primary military mutual insurer USAA has added another of its catastrophe bonds to the list of those considered at-risk of facing losses, extending the maturity on the $55 million per-occurrence Class 1 tranche of its Residential Reinsurance 2017 Ltd. (Series 2017-2) transaction.The move suggests that USAA is holding this read the full article →

USAA to repay $20m of extended ResRe cat bond as loss picture improves

USAA is moving a little closer to understanding just how big a recovery it can make from ILS investors against the reinsurance provided by its Residential Re catastrophe bond series, now opting to repay $20 million of the extended notes to investors, but still holding onto $150 million more with read the full article →

USAA extends maturity on $170m of notes across three ResRe cat bonds

U.S. primary military mutual insurer USAA has elected to extend the maturity dates for $170 million of catastrophe bond notes across three Residential Re issuances, as the firm continues to expect that it may be able to recover some of its losses from the principal that remains outstanding.USAA continues to read the full article →

USAA’s loss estimates drop, so ResRe cat bond safe for now

According to Artemis' sources, U.S. primary military mutual insurer USAA has reduced its estimate of aggregated qualifying catastrophe losses and as a result the riskiest layers of the insurers aggregate Residential Re catastrophe bonds are still safe, for the moment.We wrote almost a fortnight ago that, based on USAA's latest read the full article →

USAA’s ResRe cat bonds face payout as California wildfire losses bite

According to sources, U.S. primary military mutual insurer USAA is anticipating losses of between $387 million and $581 million from recent wildfires in northern California, a financial impact which raises the likelihood that some of the riskiest layers of the insurers aggregate Residential Re catastrophe bonds will now be triggered.Artemis read the full article →

ResRe 2015-1 pricing reflects investor demand for higher yield cat bonds

The price guidance for U.S. military mutual insurer USAA's $150m Residential Reinsurance 2015 Ltd. (Series 2015-1) catastrophe bond has been fixed and it clearly demonstrates the strong investor demand for higher yielding cat bond investment opportunities.When the Residential Re 2015-1 cat bond was launched earlier this month, we noted that read the full article →

USAA returns with $150m Residential Re 2015-1 multi-peril cat bond

U.S. military mutual insurer USAA is back in the catastrophe bond market again with a $150m Residential Reinsurance 2015 Ltd. (Series 2015-1). The deal looks set to test ILS investor pricing limits, as one tranche seeks to push a new low compared to the insurers previous deals.This will be USAA's read the full article →