Your search for “residential reinsurance”

USAA are aiming to achieve $200m of fully collateralized cover through the issuance of their latest catastrophe bond, Residential Reinsurance 2012 Ltd. It’s USAA’s eighteenth cat bond and see’s the regular sponsor attempt to secure another multi-year source of multi-peril capital markets cover. When it began marketing the deals size was not publicised as one […]

Regular, and prolific, catastrophe bond sponsor USAA is bringing another cat bond transaction to market through their latest Cayman Islands entity Residential Reinsurance 2012 Ltd. according to our sources. Residential Re 2012 will be their 18th transaction (details of every Residential Re cat bond can be found in our Deal Directory), again confirming USAA’s commitment […]

USAA are again returning to the catastrophe bond market for what we believe will be their 17th cat bond issuance to date (details of every transaction can be found in our Deal Directory). This deal has been in the market for a few weeks but it’s another privately placed and unrated transaction (something USAA have […]

USAA have successfully issued their 16th natural catastrophe bond recently through their latest Cayman Islands domiciled special purpose vehicle Residential Reinsurance 2011 Ltd. The four year deal was marketed at around $200m in size but USAA have managed to secure $250m of cover through this their latest cat bond demonstrating that despite a quiet market […]

Standard & Poor’s has announced that it has reconsidered the preliminary rating that it assigned to the Class 5 tranche of catastrophe bond Residential Reinsurance 2011 Ltd. when it was first marketed earlier this month (previous article here). Originally S&P had assigned the Class 5 notes a rating of ‘B’ but today they have raised […]

Here’s a piece of news that you may not be expecting which has just broken and could hint at how the much discussed RMS risk model change may be reacted to by the ratings agencies. One tranche of USAA’s 2009 Residential Reinsurance 2009 Ltd. catastrophe bond has been downgraded due to an updated risk model, […]

USAA are seeking a return to the catastrophe bond market with the latest in their Residential Reinsurance series of transactions. Three tranches of Series 2011-1 notes are being issued by Cayman Islands domiciled special purpose reinsurance vehicle Residential Reinsurance 2011 Ltd. It will be their 16th natural catastrophe securitization to date.

Two classes of catastrophe bond notes issued by Residential Reinsurance 2008 Ltd. and Residential Reinsurance 2009 Ltd. have been accumulating aggregate losses over the past year including some from recent severe thunderstorm events in the U.S. The Residential Re cat bonds were issued by USAA to provide them with cover for a range of perils […]

USAA’s latest catastrophe bond issuance, a second series of notes under it’s Cayman Islands based SPV Residential Reinsurance 2010 Ltd., has now closed. The transaction upsized by $100m before close and in total provides USAA with another $300m of multi-peril cat bond cover.

USAA has begun marketing a new series of catastrophe bond notes to add to its Residential Reinsurance 2010 Ltd. transaction. We assume that USAA is seeking to take advantage of investor appetite to secure further coverage for its U.S. peril exposure through this additional issuance.