Casablanca Re Ltd

Floridian primary insurer Avatar Property and Casualty Insurance Company’s Casablanca Re Ltd. (Series 2017-1) catastrophe bond transaction is now set to complete at $100 million, as the size increased on all three tranches of notes before final pricing.

Floridian primary insurer Avatar Property and Casualty Insurance Company’s first catastrophe bond issuance has now shrunk slightly before final pricing, with the Casablanca Re Ltd. (Series 2017-1) transaction now set to secure $87.7 million of reinsurance coverage for the firm.

Price guidance has been reduced on the two higher risk tranches of notes to be issued in Floridian primary insurer Avatar Property and Casualty Insurance Company’s first catastrophe bond issuance, the $100 million Casablanca Re Ltd. (Series 2017-1) transaction.

Floridian primary insurer Avatar Property and Casualty Insurance Company is coming to market with its first catastrophe bond issue, a $100 million Casablanca Re Ltd. (Series 2017-1) transaction, as it seeks a capital market backed source of Florida named storm reinsurance coverage.