Alpha Wind 2000-A Ltd. – Full details:
These hurricane cat bond securities provide $90 million of retrocessional coverage to Arrow Re. Arrow Re has reinsured a $100 million portion of an excess-of-loss treaty covering State Farm policies, primarily homeowners, in Florida. This securitization represents a 90% cession of that risk to the holders of the securities.
The securities have been rated ‘BB+’ by Standard & Poor’s.
The deal covers State Farm from certain insured hurricane losses in Florida.
The notes attach at $3.8 billion, roughly a 1 in 100 year loss level. The exhaustion point is a single event loss of approximately $5.7 billion, which RMS estimated to be slightly beyond the 250 year return period loss level.
View all of our Artemis Live video interviews and subscribe to our podcast.
All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.
Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.