Caelus Re V Ltd

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Nationwide gives partial redemption & extends Caelus Re V 2017 cat bonds

Nationwide Mutual Insurance Company, the U.S. primary insurer, has allowed a partial redemption of one of the tranches of its Caelus Re V Ltd. (Series 2017-1) catastrophe bond amounting to $75 million of collateral released. At the same time, Nationwide Mutual has opted to hold onto the collateral remaining from this read the full article →

Nationwide receives fifth loss payment under Caelus Re V cat bond

Nationwide Mutual Insurance Company, the U.S. primary insurer, has benefited from another almost $8.5 million loss payment under its Caelus Re V Ltd. (Series 2017-1) Class D tranche of catastrophe bond notes, as reinsurance recoveries from that transaction continue. Nationwide started to benefit from reinsurance recoveries under this catastrophe bond back read the full article →

Nationwide makes another $8.85m recovery from Caelus Re V cat bond

U.S. primary insurer Nationwide Mutual Insurance Company has taken another loss payment from one of its catastrophe bonds as its reinsurance recoveries under the Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes continue. Nationwide began making reinsurance recoveries under this catastrophe bond back in July, once the impacts read the full article →

Nationwide’s Caelus Re V cat bond recoveries continue, near $25m

Reinsurance recoveries from one of its catastrophe bonds have continued for U.S. primary insurer Nationwide Mutual Insurance Company, which has now recovered almost $25 million in loss payments from its Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes. These recoveries began back in July, as the impacts of read the full article →

Nationwide gets another $10.3m Caelus Re V cat bond loss payment

U.S. primary insurer Nationwide Mutual Insurance Company has made a second reinsurance recovery from its Caelus Re catastrophe bond series, adding a further $10.3 million to its claims from the highest risk Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes. Back in July we revealed that Nationwide had read the full article →

Nationwide in first $10.73m Caelus Re V cat bond reinsurance recovery

U.S. primary insurer Nationwide Mutual Insurance Company has made its first reinsurance recovery under the stricken Caelus Re catastrophe bond series, claiming $10.73 million from the highest risk Caelus Re V Ltd. (Series 2017-1) Class D tranche of notes. A number of tranches of Nationwide's $375 million Caelus Re V Ltd. read the full article →

Nationwide’s Caelus Re 2018 cat bonds priced for wildfire losses

Two tranches of Nationwide Mutual's Caelus Re V Ltd. (Series 2018-1) catastrophe bond have been marked down in the secondary market due to market expectations they could face losses from the recent California wildfires. The Caelus Re V cat bond transaction provides U.S. primary insurer Nationwide Mutual with a source of read the full article →

Nationwide’s $450m Caelus 2018 cat bond priced mostly below guidance

We understand that the pricing has now been set for U.S. primary insurance firm Nationwide Mutual’s latest catastrophe bond issuance, the recently upsized to $450 million Caelus Re V Ltd. (Series 2018-1), with three of the four tranches priced below initial guidance and the fourth at the mid-point. Considering that Nationwide read the full article →

Nationwide Mutual’s new Caelus 2018 cat bond grows to $450m

U.S. primary insurance firm Nationwide Mutual's return to the catastrophe bond market in 2018 looks set to result in a bumper issuance, as the still-being-marketed Caelus Re V Ltd. (Series 2018-1) has grown by 50% to now offer investors $450 million of U.S. catastrophe risk exposed notes. Of course Nationwide Mutual read the full article →

Investors braced for growing Caelus cat bond losses

The insurance-linked securities (ILS) investor base is braced for the potential for losses to grow from U.S. primary insurer Nationwide Mutual Insurance Company’s $375 million Caelus Re V Ltd. (Series 2017-1) catastrophe bond, as the insurers aggregated natural catastrophe losses rise further. ILS and catastrophe bond investors have known they were on the read the full article →