Bonanza Re Ltd Series 2021-1

The new catastrophe bond issuance for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has now been fixed at a smaller $80 million size, while one tranche of notes are not being issued at all, and the price for the remaining tranche of Bonanza Re Ltd. (Series 2021-1) cat bond notes has been […]

The new catastrophe bond issuance for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, now looks as if it could shrink in size, with one layer perhaps not being issued at all, while the price guidance for the remaining Bonanza Re Ltd. (Series 2021-1) cat bond notes has also risen.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has returned to the catastrophe bond market for its first issuance of 2021, with a $100 million plus target for a Bonanza Re Ltd. (Series 2021-1) deal through which it is seeking annual aggregate reinsurance protection.