Caelus Re II Ltd.

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.


Caelus Re II Ltd. – At a glance:

  • Issuer: Caelus Re II Ltd.
  • Cedent / sponsor: Nationwide Mutual Insurance Co.
  • Placement / structuring agent/s: Goldman Sachs and Aon Benfield Securities worked on this deal
  • Risk modelling / calculation agents etc: AIR Worldwide
  • Risks / perils covered: U.S. hurricane, U.S. earthquake
  • Size: $185m
  • Trigger type: Indemnity
  • Ratings: S&P: 'BB+'
  • Date of issue: May 2010
  • news coverage: Articles discussing Caelus Re II Ltd. from

Caelus Re II Ltd. – Full details:

Caelus Re II Ltd., a Caymans Islands SPV, has been set up to provide Nationwide Mutual with cover on a per-occurrence basis for certain U.S. windstorms and earthquakes.

The transaction will provide Nationwide Mutual with three years of coverage with the possibility for extension for loss development of 18 months for hurricane events and 24 months for earthquake events.

Nationwide Mutual retains 10% of the share of losses. Any losses will be decided on an indemnity basis. The collateral will be invested in highly rated U.S. money market funds.

Initial reports on this catastrophe bond suggested it was aiming for $200m but the deal finally closed at a slightly lower $185m.

Artemis Live - ILS and reinsurance video interviews and podcastView 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.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.