Bonanza Re Ltd

Executives from US insurance giant Progressive, the owner of catastrophe bond sponsors ARX Holding and American Strategic Insurance Group, have explained that these cat bonds are helping it to maintain reinsurance stability in a challenging market environment.

Insurance group Progressive is now set to secure $135 million of collateralized catastrophe reinsurance from its new Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal that benefits the ARX Holding insurers, including American Strategic Insurance Group.

The new Bonanza Re Ltd. (Series 2023-1) catastrophe bond deal from ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, could now upsize to $130 million, while pricing has risen to the top-end of guidance.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has returned to the catastrophe bond market in search of a $125 million or larger Bonanza Re Ltd. (Series 2023-1) deal that will provide it both occurrence named storm and aggregate multi-peril coverage.

The new Bonanza Re Ltd. (Series 2022-1) catastrophe bond transaction, that is being issued for ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, has now been priced and did not upsize, remaining $135 million in size, the notes priced at the top-end of guidance.

ARX Holding, the Progressive-owned parent of American Strategic Insurance Group, is back in the catastrophe bond market with a US named storm focused issuance and is seeking $135 million or more in collateralized reinsurance protection from a Bonanza Re Ltd. (Series 2022-1) transaction.

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.

The new Bonanza Re Ltd. (Series 2020-2) catastrophe bond issuance eventually grew by 195%, with the now priced transaction set to provide $295 million of reinsurance protection to ARX Holding, the Progressive-owned parent of American Strategic Insurance Group.