Caelus Re IV Ltd. Series 2016-1

U.S. insurer Nationwide Mutual’s first visit to the catastrophe bond market in almost three years is looking promising for the firm, as it looks set to upsize the Caelus Re IV Ltd. (Series 2016-1) U.S. multi-peril cat bond to $300m at the low-end of initial price guidance.

U.S. insurer Nationwide Mutual is returning to the catastrophe bond market for the first time in almost three years, as it seeks to sponsor a $225m Caelus Re IV Ltd. (Series 2016-1) U.S. multi-peril cat bond to secure collateralised capital markets backed reinsurance capacity.