Bonanza Re Ltd Series 2016-1

The recently completed $200 million Bonanza Re Ltd. (Series 2016-1) catastrophe bond, which secured sponsor American Strategic Insurance Group a slice of named storm and severe thunderstorm reinsurance protection, saw the lowest relative price in the history of ILS for a deal with significant Florida exposure.

American Strategic Insurance Group’s second catastrophe bond issuance, the currently in the market $200 million Bonanza Re Ltd. (Series 2016-1), has now been priced at the low-end of the already reduced guidance, once again reflecting the strong appetite investors have for new cat bond issues.

Coupon price guidance for the $200 million Bonanza Re Ltd. (Series 2016-1) catastrophe bond issuance, that is being marketed to investors on behalf of sponsor and ceding insurer American Strategic Insurance Group, has dropped to below the initial range once again reflecting strong investor demand.

American Strategic Insurance Group has returned to the catastrophe bond market seeking a $200 million source of capital market backed reinsurance protection for U.S. named storm and severe thunderstorm risks from a Bonanza Re Ltd. (Series 2016-1) deal.