Acorn Re Ltd. Series 2018-1

The new Acorn Re Ltd. (Series 2018-1) catastrophe bond transaction, that seeks parametric earthquake cover to benefit the Kaiser Permanente health group and other reinsureds of Hannover Re, looks set to upsize by one-third to $400 million, while pricing guidance fell to the bottom of the launch range.

A renewal catastrophe bond transaction has been launched for a novel parametric deal that ultimately provides workers compensation protection to an insured, with a $300 million Acorn Re Ltd. (Series 2018-1) transaction that seeks parametric earthquake cover that will benefit the Kaiser Permanente health group.