Raptor Re 2026-1 – White Rock Insurance

One of the Aon operated White Rock Insurance entities has issued this new $14.85 million Raptor Re 2026-1 private catastrophe bond, which we believe to have been issued out of Guernsey.

White Rock Insurance has issued the $14.85 million of Raptor Re Series 2026-1 Principal At-Risk variable rate notes, on behalf of one of its segregated accounts.

These new $14.85 million of Raptor Re 2026-1 notes have been privately placed with qualified investors and are scheduled for maturity on January 7th 2027, we understand.

We assume the issuance transforms and securitizes and underlying reinsurance or retrocession related contract.

As with all of the private ILS or cat bond deals that we report on, we do not have details on risk metrics or trigger, while until we learn more details we assume these cover an unknown property catastrophe reinsurance or retrocessional risk for a ceding entity.

The White Rock platform can be utilised as a risk transformation and securitisation platform for privately placed catastrophe bond notes and other collateralised reinsurance arrangements, while also facilitating certain captive and segregated account offerings for other insurance and reinsurance purposes as well.

The White Rock Insurance platform is managed by Aon Insurance Managers, so that unit will have played a role in getting this Raptor Re 2026-1 private cat bond, or cat bond lite, to market.

In addition we suspect that Aon’s Reinsurance Solutions broking team and its specialist capital markets and ILS unit Aon Securities, will have been involved in the structuring and placement of the transaction as well, as has been the case in previous White Rock issued private cat bonds.