Armor Re II Ltd. Series 2020-1

We’re told that the latest catastrophe bond from United Insurance Holdings (UPC Insurance) Armor Re II Ltd. (Series 2020-1) has failed to get sufficient investor support, so was pulled from the market and now won’t be issued.

United Insurance Holdings (UPC Insurance) is back in the insurance-linked securities (ILS) market for a fresh catastrophe bond issue for 2020, bringing a $130 million multi-peril Armor Re II Ltd. (Series 2020-1) transaction to market as it looks to expand on its capital markets backed reinsurance cover.