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Armor Re Ltd. Series 2013-1

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Armor Re cat bond completes, rated and lists in Bermuda

15th May 2013

The Armor Re Ltd. (Series 2013-1) catastrophe bond issuance for first-time cat bond sponsor American Coastal Insurance Company has now completed successfully. The one-year duration Armor Re cat bond provides American Coastal with a $183m source of fully-collateralized reinsurance capacity for named Florida storms using an indemnity trigger, so any tropical cyclone, storm or hurricane […]

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Armor Re catastrophe bond prices at lowest end of guidance

9th May 2013

The Armor Re Ltd. (Series 2013-1) catastrophe bond, which is being marketed on behalf of first-time cat bond sponsor American Coastal Insurance Company, has seen its risk premium drop down to the lower end of an already reduced range when the deal finally priced yesterday, according to our sources. The cat bond also seems to […]

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Armor Re catastrophe bond pricing drops, hits $183m in size

7th May 2013

According to market sources, the Armor Re Ltd. (Series 2013-1) catastrophe bond, which is being marketed on behalf of first-time cat bond sponsor, American Coastal Insurance Company, has seen the coupon price guidance reduced and has now reached $183m in size due to investor commitments. The deal began as a $125m cat bond, but with […]

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Armor Re catastrophe bond rated by S&P, more details emerge

2nd May 2013

The Armor Re Ltd. (Series 2013-1) catastrophe bond, which we wrote about when it launched earlier this week here, has now received its preliminary rating from Standard & Poor’s and so more detail on the transaction is now available to us. The Armor Re deal sees a first-time cat bond sponsor, American Coastal Insurance Company, […]

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