Baldwin Re Ltd. Series 2023-1

Vermont Mutual Insurance Company looks set to secure its latest catastrophe bond at reduced pricing, as the spread for the new $100 million Baldwin Re Ltd. (Series 2023-1) cat bond issuance has now been reduced to the low-end of initial guidance.

Vermont Mutual Insurance Company has returned to the catastrophe bond market, seeking to sponsor a Baldwin Re Ltd. (Series 2023-1) cat bond, through which it aims to secure $100 million in multi-year collateralized reinsurance to cover losses from multi-peril events in north east US states.