Armor Re Ltd

The Armor Re Ltd. (Series 2014-1) catastrophe bond, which launched just over a week ago, has grown in size to $200m, but we understand has priced at the top end of guidance suggesting that investors will not allocate capital to cat bonds at any cost.

Primary, Florida-focused, insurer American Coastal Insurance Company is returning to the catastrophe bond market with a second take-down of the Armor Re program with the launch of an Armor Re Ltd. (Series 2014-1) cat bond issuance.

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 […]

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 […]

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 […]

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, […]

The catastrophe bond issuance market continues to heat up as yet another transaction launched yesterday bringing a first-time sponsor to the market. The cat bond is being issued by Bermuda incorporated Armor Re Ltd. which is seeking to issue a Series 2013-1 tranche of cat bond notes to secure Florida wind protection for Florida focused insurer […]