Caelus Re V Ltd

US primary insurance giant Nationwide Mutual Insurance Company has now opted for a longer extension of two tranches of its Caelus Re catastrophe bonds that have been considered at-risk of facing a complete loss since 2021, but were only recently extended as their scheduled maturity date neared, Artemis understands.

Two tranches of the Caelus Re catastrophe bonds sponsored by US primary insurance giant Nationwide Mutual Insurance Company that have been considered at-risk of facing a complete loss since 2021 have now had its maturity date extended by one month, as the carrier looks to finalise its reinsurance recoveries from prior years, we understand.

The catastrophe bond market looks set to face some additional losses under Caelus Re catastrophe bonds sponsored by US primary insurance giant Nationwide Mutual Insurance Company, as its aggregate risk period losses have risen after February’s US winter storms and Texas freeze.

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.

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.

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.

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.

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.

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.

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.