Bonanza Re Ltd

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.