Astro Re Ptd. Ltd

According to sources, the Astro Re Pte. Ltd. (Series 2021-1) catastrophe bond, that is being sponsored by U.S. primary insurance group Frontline Insurance on behalf of itself and subsidiary First Protective, is set to shrink to $40 million in size, with pricing at the high-end of guidance.

We understand from sources that issuance of the Astro Re Pte. Ltd. (Series 2021-1) catastrophe bond that is being sponsored by U.S. primary insurance group Frontline Insurance on behalf of itself and subsidiary First Protective, has been slower than anticipated and now the transaction is expected to fall into the third-quarter.

U.S. primary insurance group Frontline Insurance is back for its second catastrophe bond issuance, with the carrier seeking a $100 million or greater source of named storm reinsurance protection for itself and subsidiary First Protective from this Astro Re Pte. Ltd. (Series 2021-1) deal.